CFC Planning Co LLC Invests $6.21 Million in Apple Inc. (NASDAQ:AAPL)

CFC Planning Co LLC bought a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,777 shares of the iPhone maker's stock, valued at approximately $6,205,000. Apple accounts for approximately 6.6% of CFC Planning Co LLC's portfolio, making the stock its biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC grew its position in Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker's stock valued at $219,829,700,000 after buying an additional 93,886,664 shares during the period. State Street Corp boosted its stake in shares of Apple by 10.6% during the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock worth $136,074,372,000 after acquiring an additional 55,935,105 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock valued at $77,542,863,000 after acquiring an additional 20,483,787 shares during the period. FMR LLC grew its position in shares of Apple by 5.3% during the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock valued at $84,779,231,000 after acquiring an additional 18,224,005 shares during the period. Finally, Strategic Financial Concepts LLC raised its holdings in Apple by 25,285.2% in the 4th quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock worth $2,411,260,000 after purchasing an additional 9,590,933 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Sanford C. Bernstein boosted their price target on Apple from $240.00 to $260.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Argus raised shares of Apple to a "strong-buy" rating in a research note on Friday, January 31st. Bank of America decreased their price objective on Apple from $265.00 to $250.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. TD Cowen reissued a "buy" rating on shares of Apple in a report on Tuesday, January 28th. Finally, UBS Group upped their price target on shares of Apple to $236.00 and gave the company a "buy" rating in a research note on Monday, April 14th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $235.85.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the transaction, the chief operating officer now directly owns 390,059 shares of the company's stock, valued at approximately $87,377,116.59. The trade was a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 38,822 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the transaction, the senior vice president now directly owns 179,158 shares in the company, valued at $40,072,269.86. This represents a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 182,451 shares of company stock valued at $40,818,720 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Apple Stock Up 1.3 %

NASDAQ AAPL traded up $2.52 during trading on Friday, reaching $196.79. 51,328,536 shares of the company's stock traded hands, compared to its average volume of 56,825,645. Apple Inc. has a 12-month low of $164.77 and a 12-month high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The firm has a market cap of $2.96 trillion, a price-to-earnings ratio of 31.24, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. The company's 50 day simple moving average is $219.65 and its two-hundred day simple moving average is $230.08.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) 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%. As a group, sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, February 10th. Apple's dividend payout ratio (DPR) 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.