Quantum Financial Planning Services Inc. Takes $1.68 Million Position in Apple Inc. (NASDAQ:AAPL)

Quantum Financial Planning Services Inc. bought a new position in Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,711 shares of the iPhone maker's stock, valued at approximately $1,681,000. Apple makes up about 0.9% of Quantum Financial Planning Services Inc.'s holdings, making the stock its 8th biggest position.

A number of other institutional investors also recently made changes to their positions in the business. High Net Worth Advisory Group LLC increased its holdings in Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker's stock valued at $14,916,000 after purchasing an additional 1,066 shares during the period. Amara Financial LLC. purchased a new position in Apple during the third quarter valued at $288,000. Sterling Investment Counsel LLC boosted its stake in Apple by 3.8% during the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker's stock worth $16,269,000 after acquiring an additional 2,565 shares in the last quarter. Silicon Valley Capital Partners increased its position in Apple by 12.8% during the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker's stock valued at $59,122,000 after buying an additional 28,799 shares in the last quarter. Finally, Catalyst Financial Partners LLC raised its position in shares of Apple by 4.2% in the 3rd quarter. Catalyst Financial Partners LLC now owns 96,589 shares of the iPhone maker's stock worth $22,505,000 after purchasing an additional 3,935 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

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Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AAPL shares. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Apple in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lifted their price target on shares of Apple from $260.00 to $270.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Oppenheimer downgraded Apple from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 29th. Evercore ISI increased their price target on Apple from $260.00 to $275.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 18th. Finally, Redburn Partners set a $230.00 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, nine have issued a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Apple has an average rating of "Moderate Buy" and a consensus price target of $245.52.

Apple Stock Down 2.7 %

Apple stock traded down $5.95 during midday trading on Friday, reaching $217.90. The company's stock had a trading volume of 39,775,695 shares, compared to its average volume of 54,852,651. The stock's 50-day simple moving average is $230.70 and its 200-day simple moving average is $233.35. The stock has a market capitalization of $3.27 trillion, a P/E ratio of 34.59, a PEG ratio of 2.44 and a beta of 1.18. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a 52-week low of $164.08 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data 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 return on equity of 160.83% and a net margin of 24.30%. On average, sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend was Monday, February 10th. Apple's dividend payout ratio (DPR) is 15.87%.

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.