Planned Solutions Inc. Purchases 3,472 Shares of Apple Inc. (NASDAQ:AAPL)

Planned Solutions Inc. boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 20.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,142 shares of the iPhone maker’s stock after buying an additional 3,472 shares during the period. Apple makes up about 1.9% of Planned Solutions Inc.’s portfolio, making the stock its 12th biggest holding. Planned Solutions Inc.’s holdings in Apple were worth $4,693,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hershey Financial Advisers LLC purchased a new position in shares of Apple in the 2nd quarter worth approximately $42,000. Hoese & Co LLP boosted its holdings in shares of 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 purchasing an additional 57 shares during the period. Sage Financial Group Inc. purchased a new position in shares of Apple in the 2nd quarter worth approximately $206,000. Benchmark Wealth Management LLC purchased a new position in shares of Apple in the 2nd quarter worth approximately $208,000. Finally, SMH Capital Advisors Inc. purchased a new position in shares of Apple in the 2nd quarter worth approximately $209,000. 60.41% of the stock is owned by institutional investors.

Apple Stock Down 0.1 %

Shares of AAPL stock opened at $234.93 on Thursday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The stock’s fifty day moving average price is $228.71 and its 200 day moving average price is $219.12. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The company has a market cap of $3.55 trillion, a price-to-earnings ratio of 38.64, a price-to-earnings-growth ratio of 2.28 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the previous year, the business earned $1.46 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, research analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.43%. Apple’s dividend payout ratio (DPR) is 16.45%.

Analysts Set New Price Targets

A number of brokerages have recently commented on AAPL. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and lifted their target price for the stock from $205.00 to $212.92 in a report on Monday, October 7th. UBS Group boosted their price objective on Apple to $236.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Bank of America restated a “buy” rating and set a $256.00 price objective on shares of Apple in a report on Thursday, October 3rd. Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Apple in a report on Friday, November 1st. Finally, Melius Research restated a “buy” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $235.25.

Insider Buying and Selling

In other Apple news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 107,788 shares in the company, valued at approximately $24,416,137.76. The trade was a 35.49 % decrease in their position. The transaction 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 223,986 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock worth $92,007,745 in the last ninety days. 0.06% of the stock is owned by insiders.

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.