Apple Inc. (NASDAQ:AAPL) Shares Acquired by Spartan Planning & Wealth Management

Spartan Planning & Wealth Management increased its position in Apple Inc. (NASDAQ:AAPL) by 187.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,808 shares of the iPhone maker’s stock after purchasing an additional 15,526 shares during the period. Apple accounts for about 4.9% of Spartan Planning & Wealth Management’s investment portfolio, making the stock its 6th biggest holding. Spartan Planning & Wealth Management’s holdings in Apple were worth $4,584,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AAPL. Allen Capital Group LLC lifted its holdings in Apple by 1.8% in the third quarter. Allen Capital Group LLC now owns 81,159 shares of the iPhone maker’s stock worth $14,101,000 after acquiring an additional 1,444 shares during the last quarter. Triad Financial Advisors Inc. raised its holdings in shares of Apple by 2.5% during the third quarter. Triad Financial Advisors Inc. now owns 52,092 shares of the iPhone maker’s stock valued at $8,919,000 after buying an additional 1,292 shares during the last quarter. Rebalance LLC raised its holdings in shares of Apple by 2.4% during the third quarter. Rebalance LLC now owns 15,106 shares of the iPhone maker’s stock valued at $2,586,000 after buying an additional 360 shares during the last quarter. Vantage Financial Partners LLC raised its holdings in shares of Apple by 1.2% during the third quarter. Vantage Financial Partners LLC now owns 13,502 shares of the iPhone maker’s stock valued at $2,312,000 after buying an additional 166 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. raised its holdings in shares of Apple by 100.0% during the third quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 26,000 shares of the iPhone maker’s stock valued at $4,451,000 after buying an additional 13,000 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AAPL has been the topic of a number of recent analyst reports. Wedbush lifted their price target on Apple from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, May 24th. UBS Group reaffirmed a “neutral” rating and set a $190.00 price target on shares of Apple in a report on Tuesday, June 11th. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $205.00 price target on shares of Apple in a report on Thursday, June 6th. Barclays reaffirmed an “underweight” rating and set a $164.00 price target on shares of Apple in a report on Tuesday, June 11th. Finally, Erste Group Bank raised Apple from a “hold” rating to a “buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.47.

Insider Activity

In related news, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value 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 approximately $23,068,376.52. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value 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 approximately $23,068,376.52. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. Insiders have sold 346,270 shares of company stock worth $60,880,196 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $216.67 on Tuesday. The company has a market capitalization of $3.32 trillion, a price-to-earnings ratio of 33.70, a P/E/G ratio of 2.59 and a beta of 1.25. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $220.20. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. The business’s 50-day moving average is $184.73 and its 200-day moving average is $184.19.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.52 EPS. Equities research analysts expect that Apple Inc. will post 6.58 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were issued a $0.25 dividend. This is an increase from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. Apple’s dividend payout ratio is currently 15.55%.

Apple announced that its Board of Directors has approved a stock buyback plan on Thursday, May 2nd that permits the company to repurchase $110.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Apple Company 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.