Planning Capital Management Corp Has $6.29 Million Position in Apple Inc. (NASDAQ:AAPL)

Planning Capital Management Corp grew its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 23.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,978 shares of the iPhone maker's stock after buying an additional 5,046 shares during the quarter. Apple accounts for approximately 4.2% of Planning Capital Management Corp's portfolio, making the stock its 2nd largest holding. Planning Capital Management Corp's holdings in Apple were worth $6,286,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of AAPL. Bull Oak Capital LLC raised its position 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. Hershey Financial Advisers LLC purchased a new position in shares of Apple during the second quarter valued at approximately $42,000. Christopher J. Hasenberg Inc lifted its stake in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker's stock worth $69,000 after acquiring an additional 144 shares during the period. ARK Investment Management LLC bought a new stake in Apple in the third quarter valued at $110,000. Finally, Cordant Inc. increased its position in Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker's stock valued at $158,000 after purchasing an additional 173 shares during the period. Institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AAPL. Sanford C. Bernstein raised their target price on shares of Apple from $240.00 to $260.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Oppenheimer reaffirmed a "buy" rating and set a $250.00 price objective on shares of Apple in a research report on Tuesday, October 1st. JPMorgan Chase & Co. lowered their target price on Apple from $265.00 to $260.00 and set an "overweight" rating for the company in a research note on Tuesday. UBS Group reaffirmed a "neutral" rating and issued a $236.00 price target on shares of Apple in a research note on Monday, December 2nd. Finally, Rosenblatt Securities raised their price objective on Apple from $261.00 to $262.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Apple currently has an average rating of "Moderate Buy" and an average target price of $238.02.

Apple Stock Performance

Shares of AAPL opened at $222.64 on Wednesday. The business has a 50-day simple moving average of $241.12 and a two-hundred day simple moving average of $230.85. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The stock has a market cap of $3.35 trillion, a price-to-earnings ratio of 36.62, a PEG ratio of 2.25 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 EPS. On average, analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple's payout ratio is 16.45%.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the firm's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company's stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company's stock.

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.