Planning Capital Management Corp Buys 5,046 Shares of Apple Inc. (NASDAQ:AAPL)

Planning Capital Management Corp boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 23.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,978 shares of the iPhone maker’s stock after buying an additional 5,046 shares during the quarter. Apple makes up approximately 4.2% of Planning Capital Management Corp’s portfolio, making the stock its 2nd biggest position. Planning Capital Management Corp’s holdings in Apple were worth $6,286,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. High Net Worth Advisory Group LLC lifted its holdings in Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after buying an additional 1,066 shares during the period. Granite Investment Partners LLC raised its position in shares of Apple by 2.7% in the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after acquiring an additional 7,606 shares in the last quarter. Truist Financial Corp raised its position in shares of Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after acquiring an additional 126,210 shares in the last quarter. Sterling Investment Counsel LLC raised its position in shares of Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after acquiring an additional 2,565 shares in the last quarter. Finally, Silicon Valley Capital Partners increased its position in Apple by 12.8% in the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock valued at $59,122,000 after buying an additional 28,799 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Trading Down 3.2 %

Apple stock opened at $222.64 on Wednesday. The stock has a market cap of $3.35 trillion, a P/E ratio of 36.62, a PEG ratio of 2.25 and a beta of 1.20. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The firm’s fifty day moving average price is $241.12 and its 200-day moving average price is $230.85. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.46 earnings per share. Equities research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple’s dividend payout ratio is presently 16.45%.

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of analyst reports. Raymond James lifted their price target on Apple to $250.00 and gave the company a “buy” rating in a research note on Monday. New Street Research reiterated a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Jefferies Financial Group downgraded Apple from a “hold” rating to an “underperform” rating and cut their price target for the company from $211.84 to $200.75 in a research note on Tuesday. Piper Sandler restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. Finally, UBS Group restated a “neutral” rating and issued a $236.00 target price on shares of Apple in a research note on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.02.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.