Forbes Financial Planning Inc. purchased a new stake in shares of Apple Inc. (NASDAQ: AAPL – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 26,505 shares of the iPhone maker’s stock, valued at approximately $ 4,704,000. Apple accounts for approximately 4.6% of Forbes Financial Planning Inc.’s holdings, making the stock its 11th biggest holding.
Other hedge funds have also recently added to or reduced their stakes in the company. Daniels & Tansey LLP lifted its position in Apple by 1.6% in the 4th quarter. Daniels & Tansey LLP now owns 3,858 shares of the iPhone maker’s stock worth $ 685,000 after buying an additional 60 shares during the last quarter. Hanlon Investment Management Inc. lifted its position in Apple by 0.7% in the 4th quarter. Hanlon Investment Management Inc. now owns 10,124 shares of the iPhone maker’s stock worth $ 1,798,000 after buying an additional 66 shares during the last quarter. Financial Planning & Information Services Inc. lifted its position in Apple by 1.0% in the 4th quarter. Financial Planning & Information Services Inc. now owns 6,837 shares of the iPhone maker’s stock worth $ 1,214,000 after buying an additional 67 shares during the last quarter. Salzhauer Michael lifted its position in Apple by 2.0% in the 4th quarter. Salzhauer Michael now owns 3,397 shares of the iPhone maker’s stock worth $ 603,000 after buying an additional 67 shares during the last quarter. Finally, MorganRosel Wealth Management LLC lifted its position in Apple by 1.1% in the 4th quarter. MorganRosel Wealth Management LLC now owns 6,394 shares of the iPhone maker’s stock worth $ 1,135,000 after buying an additional 70 shares during the last quarter. 57.98% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ: AAPL opened at $ 130.06 on Friday. The company has a market cap of $ 2.11 trillion, a P / E ratio of 21.11, a PEG ratio of 1.79 and a beta of 1.20. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88. Apple Inc. has a 1 year low of $ 129.04 and a 1 year high of $ 182.94. The stock’s fifty day moving average price is $ 151.89 and its 200-day moving average price is $ 163.59.
Apple (NASDAQ: AAPL – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $ 1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $ 1.43 by $ 0.09. The firm had revenue of $ 97.28 billion for the quarter, compared to the consensus estimate of $ 93.99 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. The company quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $ 1.40 earnings per share. On average, sell-side analysts anticipate that Apple Inc. will post 6.11 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Investors of record on Monday, May 9th were given a dividend of $ 0.23 per share. This represents a $ 0.92 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date was Friday, May 6th. This is a boost from Apple’s previous quarterly dividend of $ 0.22. Apple’s dividend payout ratio is 14.94%.
Apple announced that its Board of Directors has approved a share repurchase program on Thursday, April 28th that authorizes the company to repurchase $ 90.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company leadership believes its stock is undervalued.
A number of equities analysts have commented on the company. StockNews.com assumed coverage on Apple in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Piper Sandler decreased their price target on Apple from $ 200.00 to $ 195.00 in a research note on Friday, April 29th. Rosenblatt Securities dropped their price target on Apple from $ 184.00 to $ 168.00 and set a “neutral” rating on the stock in a research note on Monday, May 2nd. Sanford C. Bernstein set a $ 170.00 price target on Apple in a research note on Monday, May 2nd. Finally, Credit Suisse Group set a $ 169.00 target price on Apple in a research note on Friday, April 29th. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company stock. According to MarketBeat.com, Apple currently has an average rating of “Buy” and an average price target of $ 186.55.
In related news, COO Jeffrey E. Williams sold 105,901 shares of the company stock in a transaction on Monday, April 4th. The stock was sold at an average price of $ 177.75, for a total transaction of $ 18,823,902.75. Following the completion of the sale, the chief operating officer now owns 489,662 shares in the company, valued at $ 87,037,420.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Deirdre O’brien sold 29,198 shares of the company stock in a transaction on Monday, April 4th. The shares were sold at an average price of $ 177.77, for a total value of $ 5,190,528.46. Following the sale, the senior vice president now owns 136,290 shares of the company stock, valued at approximately $ 24,228,273.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 168,099 shares of company stock valued at $ 29,376,711. 0.06% of the stock is owned by company insiders.
About Apple: (Get Rating)
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
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