Planned Solutions Inc. Cuts Stake in Apple Inc. (NASDAQ:AAPL)

Planned Solutions Inc. decreased its position in Apple Inc. (NASDAQ:AAPL) by 11.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,900 shares of the iPhone maker’s stock after selling 2,242 shares during the period. Apple comprises 1.8% of Planned Solutions Inc.’s portfolio, making the stock its 16th largest holding. Planned Solutions Inc.’s holdings in Apple were worth $4,483,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. Bull Oak Capital LLC increased its stake in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares in the last quarter. Hershey Financial Advisers LLC acquired a new position in shares of Apple in the second quarter valued at approximately $42,000. Christopher J. Hasenberg Inc lifted its stake in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the period. SPX Gestao de Recursos Ltda acquired a new stake in Apple in the 3rd quarter worth about $71,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in shares of Apple in the third quarter worth approximately $77,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $260.00 price target on shares of Apple in a research note on Friday, January 31st. Oppenheimer downgraded Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company increased their target price on Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Redburn Partners set a $230.00 price objective on Apple in a research note on Friday, January 31st. Finally, DA Davidson set a $290.00 price objective on shares of Apple in a research note on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.88.

Apple Stock Down 4.8 %

Apple stock opened at $227.48 on Tuesday. Apple Inc. has a 1-year low of $164.08 and a 1-year high of $260.10. The firm’s fifty day simple moving average is $237.06 and its 200-day simple moving average is $234.16. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $3.42 trillion, a P/E ratio of 36.11, a P/E/G ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio is 15.87%.

Insider Activity at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the 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 directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.06% of the company’s stock.

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.