Apple Inc. (NASDAQ:AAPL) Shares Sold by RCS Financial Planning LLC

RCS Financial Planning LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 1.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,108 shares of the iPhone maker’s stock after selling 162 shares during the period. Apple accounts for about 2.0% of RCS Financial Planning LLC’s investment portfolio, making the stock its 9th largest position. RCS Financial Planning LLC’s holdings in Apple were worth $3,520,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Hershey Financial Advisers LLC acquired a new stake in shares of Apple during the 2nd quarter worth about $42,000. Christopher J. Hasenberg Inc lifted its stake in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares during the period. Cordant Inc. boosted its position in Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after acquiring an additional 173 shares during the last quarter. Hoese & Co LLP grew its stake in Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 57 shares during the period. Finally, Sage Financial Group Inc. acquired a new position in Apple in the 2nd quarter valued at $206,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Trading Up 0.7 %

Shares of AAPL opened at $249.79 on Friday. Apple Inc. has a one year low of $164.07 and a one year high of $254.28. The stock has a 50-day moving average price of $234.43 and a 200 day moving average price of $225.06. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The company has a market capitalization of $3.78 trillion, a P/E ratio of 41.08, a P/E/G ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.46 EPS. Sell-side analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

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

Wall Street Analysts Forecast Growth

AAPL has been the subject of several analyst reports. Monness Crespi & Hardt reiterated a “buy” rating and issued a $245.00 target price on shares of Apple in a research note on Monday, September 9th. New Street Research restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. Loop Capital cut their price objective on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Rosenblatt Securities upped their price target on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Evercore ISI reaffirmed a “buy” rating and set a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $236.78.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred 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 owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 508,170 shares of company stock valued at $117,004,745. 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.