Keener Financial Planning LLC Reduces Stock Position in Apple Inc. (NASDAQ:AAPL)

Keener Financial Planning LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 18.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,413 shares of the iPhone maker’s stock after selling 968 shares during the quarter. Apple makes up about 0.7% of Keener Financial Planning LLC’s holdings, making the stock its 10th largest position. Keener Financial Planning LLC’s holdings in Apple were worth $1,028,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Godsey & Gibb Inc. increased its position in Apple by 0.3% in the third quarter. Godsey & Gibb Inc. now owns 151,564 shares of the iPhone maker’s stock worth $35,314,000 after buying an additional 485 shares during the last quarter. Baker Boyer National Bank grew its position in shares of Apple by 3.2% in the third quarter. Baker Boyer National Bank now owns 21,015 shares of the iPhone maker’s stock valued at $4,896,000 after purchasing an additional 650 shares in the last quarter. ACT Advisors LLC. grew its position in shares of Apple by 3.9% in the third quarter. ACT Advisors LLC. now owns 7,299 shares of the iPhone maker’s stock valued at $1,701,000 after purchasing an additional 277 shares in the last quarter. McClarren Financial Advisors Inc. grew its position in shares of Apple by 249.6% in the third quarter. McClarren Financial Advisors Inc. now owns 18,404 shares of the iPhone maker’s stock valued at $4,288,000 after purchasing an additional 13,139 shares in the last quarter. Finally, Cannon Financial Strategists Inc. grew its position in shares of Apple by 116.6% in the third quarter. Cannon Financial Strategists Inc. now owns 5,794 shares of the iPhone maker’s stock valued at $1,350,000 after purchasing an additional 3,119 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on Monday, November 18th. The stock was 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 in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 408,170 shares of company stock worth $92,007,745. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the subject of several research analyst reports. Rosenblatt Securities lifted their price objective on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and lifted their price objective for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Oppenheimer reissued a “buy” rating and set a $250.00 price objective on shares of Apple in a research note on Tuesday, October 1st. New Street Research reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 price target on shares of Apple in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $236.78.

Apple Stock Up 0.1 %

Apple stock opened at $248.13 on Monday. The firm has a market cap of $3.75 trillion, a price-to-earnings ratio of 40.81, a PEG ratio of 2.41 and a beta of 1.23. The stock has a fifty day simple moving average of $232.50 and a two-hundred day simple moving average of $223.88. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $250.80. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same quarter last year, the company earned $1.46 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

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.