Cornerstone Planning Group LLC Acquires 115 Shares of Apple Inc. (NASDAQ:AAPL)

Cornerstone Planning Group LLC grew its position in Apple Inc. (NASDAQ:AAPL) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,227 shares of the iPhone maker’s stock after purchasing an additional 115 shares during the period. Apple comprises about 1.0% of Cornerstone Planning Group LLC’s portfolio, making the stock its 17th largest position. Cornerstone Planning Group LLC’s holdings in Apple were worth $4,493,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Lantz Financial LLC increased its holdings in Apple by 8.6% in the 2nd quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock worth $6,266,000 after acquiring an additional 2,361 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Apple by 0.8% in the 2nd quarter. Fifth Third Bancorp now owns 6,202,902 shares of the iPhone maker’s stock valued at $1,306,455,000 after acquiring an additional 48,719 shares in the last quarter. Oak Harvest Investment Services increased its holdings in shares of Apple by 3.1% in the 2nd quarter. Oak Harvest Investment Services now owns 124,883 shares of the iPhone maker’s stock worth $26,303,000 after buying an additional 3,727 shares during the last quarter. Centennial Wealth Advisory LLC increased its stake in Apple by 5.6% in the second quarter. Centennial Wealth Advisory LLC now owns 28,773 shares of the iPhone maker’s stock valued at $6,060,000 after acquiring an additional 1,529 shares during the last quarter. Finally, Geneva Partners LLC raised its holdings in shares of Apple by 2,181.9% during the 2nd quarter. Geneva Partners LLC now owns 63,826 shares of the iPhone maker’s stock valued at $13,443,000 after buying an additional 61,029 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Apple stock opened at $229.98 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. The company’s 50-day moving average price is $241.01 and its 200-day moving average price is $230.79. The company has a market cap of $3.48 trillion, a PE ratio of 37.83, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the previous year, the business posted $1.46 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is presently 16.45%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Piper Sandler restated a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, October 9th. Oppenheimer reaffirmed a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Tuesday, October 1st. Bank of America reiterated a “buy” rating and set a $256.00 target price on shares of Apple in a report on Friday, January 3rd. Morgan Stanley reissued an “overweight” rating and set a $273.00 price target on shares of Apple in a research report on Friday, December 13th. Finally, Wells Fargo & Company boosted their price objective on shares of Apple to $275.00 and gave the company a “buy” rating in a report on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.85.

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.