Investment Planning Advisors Inc. Sells 62 Shares of Apple Inc. (NASDAQ:AAPL)

Investment Planning Advisors Inc. trimmed its position in Apple Inc. (NASDAQ:AAPL) by 2.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,923 shares of the iPhone maker’s stock after selling 62 shares during the quarter. Investment Planning Advisors Inc.’s holdings in Apple were worth $732,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bull Oak Capital LLC grew its stake in Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in shares of Apple during the third quarter worth about $71,000. Christopher J. Hasenberg Inc boosted its position in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares during the last quarter. Teachers Insurance & Annuity Association of America acquired a new position in Apple in the 3rd quarter worth approximately $77,000. Finally, ARK Investment Management LLC purchased a new position in Apple during the 3rd quarter worth approximately $110,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays increased their price objective on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Wells Fargo & Company lifted their price objective on Apple to $275.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Maxim Group upped their target price on Apple to $215.00 and gave the stock a “hold” rating in a research note on Friday, February 21st. KeyCorp reiterated an “underweight” rating and set a $200.00 price target on shares of Apple in a research report on Friday, January 31st. Finally, Needham & Company LLC restated a “buy” rating and issued a $260.00 price objective on shares of Apple in a research report on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have 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 an average target price of $243.65.

Apple Trading Up 1.9 %

Shares of NASDAQ:AAPL opened at $218.27 on Friday. The firm has a fifty day moving average of $231.82 and a two-hundred day moving average of $233.33. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a 12-month low of $164.08 and a 12-month high of $260.10. The firm has a market capitalization of $3.28 trillion, a P/E ratio of 34.65, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, equities analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.46%. Apple’s payout ratio is currently 15.87%.

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.