Capital Planning LLC Cuts Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Capital Planning LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,900 shares of the iPhone maker’s stock after selling 375 shares during the quarter. Apple comprises approximately 1.5% of Capital Planning LLC’s portfolio, making the stock its 22nd biggest holding. Capital Planning LLC’s holdings in Apple were worth $4,216,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Wyrmwood Management LLC increased its position in shares of Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after purchasing an additional 69 shares during the last quarter. Gilfoyle & Co LLC grew its position in Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after acquiring an additional 118 shares during the last quarter. PayPay Securities Corp raised its stake in shares of Apple by 70.2% during the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after acquiring an additional 210 shares in the last quarter. Cordant Inc. lifted its holdings in shares of Apple by 27.7% in the 3rd quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after acquiring an additional 140 shares during the last quarter. Finally, Life Planning Partners Inc purchased a new stake in shares of Apple in the 4th quarter valued at $132,000. 60.41% of the stock is currently owned by institutional investors.

Apple Stock Performance

Apple stock opened at $165.84 on Tuesday. The stock’s 50 day moving average is $174.24 and its 200 day moving average is $182.10. The company has a market capitalization of $2.56 trillion, a P/E ratio of 25.83, a PEG ratio of 1.99 and a beta of 1.27. Apple Inc. has a twelve month low of $162.80 and a twelve month high of $199.62. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. The firm had revenue of $119.60 billion for the quarter, compared to analysts’ expectations of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.88 earnings per share. On average, equities research analysts predict that Apple Inc. will post 6.54 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were issued a $0.24 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.96 annualized dividend and a yield of 0.58%. Apple’s dividend payout ratio (DPR) is presently 14.95%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AAPL shares. Bank of America upgraded shares of Apple from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $208.00 to $225.00 in a research report on Thursday, January 18th. Piper Sandler dropped their target price on Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. UBS Group reaffirmed a “hold” rating and issued a $190.00 price target on shares of Apple in a research note on Monday, March 25th. JPMorgan Chase & Co. dropped their price objective on Apple from $215.00 to $210.00 and set an “overweight” rating for the company in a research note on Thursday, April 11th. Finally, Monness Crespi & Hardt lifted their target price on shares of Apple from $189.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $203.05.

Insider Transactions at Apple

In related news, SVP Deirdre O’brien sold 54,732 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the sale, the senior vice president now owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now directly owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the sale, the senior vice president now directly owns 136,572 shares in the company, valued at $23,068,376.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 366,271 shares of company stock worth $63,653,887. Corporate insiders own 0.06% of the company’s stock.

Apple Profile

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.