Forbes Financial Planning Inc. Trims Stock Position in Apple Inc. (NASDAQ:AAPL)

Forbes Financial Planning Inc. lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,833 shares of the iPhone maker’s stock after selling 827 shares during the quarter. Apple makes up 3.6% of Forbes Financial Planning Inc.’s holdings, making the stock its 13th biggest position. Forbes Financial Planning Inc.’s holdings in Apple were worth $4,598,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. SNS Financial Group LLC raised its position in shares of Apple by 2.7% during the 2nd quarter. SNS Financial Group LLC now owns 153,925 shares of the iPhone maker’s stock worth $32,420,000 after purchasing an additional 4,027 shares during the last quarter. David Kennon Inc boosted its holdings in Apple by 1.9% in the 2nd quarter. David Kennon Inc now owns 9,036 shares of the iPhone maker’s stock valued at $1,903,000 after purchasing an additional 170 shares during the last quarter. Pettinga Financial Advisors LLC increased its stake in Apple by 1.0% during the second quarter. Pettinga Financial Advisors LLC now owns 47,622 shares of the iPhone maker’s stock worth $10,030,000 after acquiring an additional 481 shares during the last quarter. Destiny Wealth Partners LLC boosted its stake in Apple by 6.6% during the second quarter. Destiny Wealth Partners LLC now owns 77,753 shares of the iPhone maker’s stock worth $16,376,000 after buying an additional 4,801 shares during the period. Finally, Community Financial Services Group LLC boosted its position in shares of Apple by 0.7% during the second quarter. Community Financial Services Group LLC now owns 121,182 shares of the iPhone maker’s stock worth $25,523,000 after buying an additional 803 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock valued at $23,723,887 in the last three months. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $227.79 on Monday. The stock’s fifty day simple moving average is $222.19 and its 200 day simple moving average is $202.38. The stock has a market capitalization of $3.49 trillion, a price-to-earnings ratio of 35.43, a PEG ratio of 2.66 and a beta of 1.24. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. During the same quarter in the prior year, the company earned $1.26 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts forecast that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

Analyst Ratings Changes

Several brokerages have recently issued reports on AAPL. Sanford C. Bernstein increased their price objective on Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. Robert W. Baird increased their price target on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. UBS Group increased their price target on Apple from $190.00 to $236.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Moffett Nathanson assumed coverage on Apple in a research note on Monday, August 19th. They issued a “neutral” rating and a $211.00 price target on the stock. Finally, Cfra upped their price target on Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $238.76.

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.