WealthPlan Investment Management LLC Raises Stock Holdings in Apple Inc. (NASDAQ:AAPL)

WealthPlan Investment Management LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 361,925 shares of the iPhone maker's stock after buying an additional 5,039 shares during the period. Apple comprises approximately 9.0% of WealthPlan Investment Management LLC's portfolio, making the stock its biggest position. WealthPlan Investment Management LLC's holdings in Apple were worth $90,633,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp boosted its position in Apple by 10.6% during the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock valued at $136,074,372,000 after purchasing an additional 55,935,105 shares during the last quarter. FMR LLC boosted its position in Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock valued at $84,779,231,000 after purchasing an additional 18,224,005 shares during the last quarter. Geode Capital Management LLC boosted its position in Apple by 6.5% during the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock valued at $77,542,863,000 after purchasing an additional 20,483,787 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Apple by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker's stock valued at $22,121,656,000 after purchasing an additional 5,893,741 shares during the last quarter. Finally, International Assets Investment Management LLC boosted 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 purchasing an additional 93,886,664 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Price Performance

Apple stock traded up $6.09 during mid-day trading on Wednesday, hitting $205.83. 13,793,166 shares of the company were exchanged, compared to its average volume of 56,640,486. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The business has a fifty day moving average of $217.94 and a 200 day moving average of $229.69. Apple Inc. has a 1-year low of $164.92 and a 1-year high of $260.10. The company has a market capitalization of $3.09 trillion, a PE ratio of 32.67, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26.

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

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.49%. Apple's dividend payout ratio (DPR) is presently 15.87%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Evercore ISI lifted their price objective on Apple from $260.00 to $275.00 and gave the company an "outperform" rating in a research report on Tuesday, March 18th. Wedbush reduced their price objective on Apple from $325.00 to $250.00 and set an "outperform" rating for the company in a research report on Monday, April 7th. Tigress Financial raised their target price on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a report on Thursday, April 3rd. Bank of America cut their target price on Apple from $265.00 to $250.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Finally, Raymond James raised their target price on Apple to $250.00 and gave the company a "buy" rating in a report on Friday, April 4th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $235.25.

Insider Activity

In related news, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the sale, the chief operating officer now directly owns 390,059 shares in the company, valued at $87,377,116.59. This trade represents a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the sale, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. The trade was a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 182,451 shares of company stock worth $40,818,720. 0.06% of the stock is owned by corporate insiders.

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.