Retirement Income Solutions Inc Purchases 1,272 Shares of Apple Inc. (NASDAQ:AAPL)

Retirement Income Solutions Inc increased its stake in Apple Inc. (NASDAQ:AAPL) by 6.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,141 shares of the iPhone maker’s stock after purchasing an additional 1,272 shares during the period. Apple accounts for 1.1% of Retirement Income Solutions Inc’s portfolio, making the stock its 17th largest holding. Retirement Income Solutions Inc’s holdings in Apple were worth $4,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Bellwether Advisors LLC grew its holdings in shares of Apple by 387.3% in the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after buying an additional 19,352 shares during the period. WT Asset Management Ltd bought a new stake in shares of Apple in the 2nd quarter valued at about $80,057,000. Councilmark Asset Management LLC bought a new position in Apple in the 1st quarter valued at about $11,776,000. Financial Life Advisors bought a new position in Apple in the 4th quarter valued at about $212,000. Finally, Hummer Financial Advisory Services Inc grew its position in shares of Apple by 2.2% during the 1st quarter. Hummer Financial Advisory Services Inc now owns 5,488 shares of the iPhone maker’s stock worth $941,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling

In other Apple news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of analyst reports. TD Cowen increased their target price on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. The Goldman Sachs Group increased their target price on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Sanford C. Bernstein increased their price target on shares of Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. KeyCorp reiterated a “hold” rating and set a $247.61 price target on shares of Apple in a research report on Wednesday, August 28th. Finally, Tigress Financial increased their price target on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $239.27.

Apple Price Performance

AAPL stock opened at $231.78 on Thursday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The company has a fifty day moving average price of $225.03 and a 200-day moving average price of $207.22. The company has a market capitalization of $3.55 trillion, a P/E ratio of 36.05, a PEG ratio of 2.40 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the company posted $1.26 earnings per share. As a group, equities analysts expect that Apple Inc. will post 6.65 EPS for the current year.

Apple Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

Apple 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.