Quantum Financial Planning Services Inc. Invests $1.68 Million in Apple Inc. (NASDAQ:AAPL)

Quantum Financial Planning Services Inc. acquired a new position in shares of Apple Inc. (NASDAQ:AAPL) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,711 shares of the iPhone maker’s stock, valued at approximately $1,681,000. Apple accounts for approximately 0.9% of Quantum Financial Planning Services Inc.’s holdings, making the stock its 8th biggest holding.

Other hedge funds have also bought and sold shares of the company. AMF Tjanstepension AB increased its stake in shares of Apple by 21.1% in the 3rd quarter. AMF Tjanstepension AB now owns 3,380,064 shares of the iPhone maker’s stock valued at $787,631,000 after acquiring an additional 588,427 shares in the last quarter. TL Private Wealth increased its stake in Apple by 3.9% in the third quarter. TL Private Wealth now owns 3,583 shares of the iPhone maker’s stock valued at $794,000 after purchasing an additional 133 shares in the last quarter. Kelly Financial Services LLC raised its holdings in shares of Apple by 2.3% during the third quarter. Kelly Financial Services LLC now owns 17,147 shares of the iPhone maker’s stock valued at $3,995,000 after purchasing an additional 382 shares during the period. Morton Capital Management LLC CA boosted its position in shares of Apple by 4.3% during the 3rd quarter. Morton Capital Management LLC CA now owns 66,499 shares of the iPhone maker’s stock worth $15,494,000 after purchasing an additional 2,719 shares in the last quarter. Finally, Cypress Wealth Services LLC grew its stake in shares of Apple by 0.6% in the 3rd quarter. Cypress Wealth Services LLC now owns 133,518 shares of the iPhone maker’s stock valued at $31,110,000 after buying an additional 817 shares during the period. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on AAPL shares. Wells Fargo & Company increased their price target on Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. The Goldman Sachs Group reissued a “buy” rating on shares of Apple in a research report on Wednesday, February 19th. Monness Crespi & Hardt upped their price objective on shares of Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Redburn Partners set a $230.00 price objective on shares of Apple in a report on Friday, January 31st. Finally, Maxim Group upped their target price on shares of Apple to $215.00 and gave the stock a “hold” rating in a report on Friday, February 21st. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $243.65.

Apple Price Performance

Shares of Apple stock opened at $223.85 on Friday. The firm has a market cap of $3.36 trillion, a PE ratio of 35.53, a P/E/G ratio of 2.44 and a beta of 1.18. The business has a 50-day moving average price of $230.94 and a 200 day moving average price of $233.28. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a twelve month low of $164.08 and a twelve month high of $260.10.

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

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s dividend payout ratio is currently 15.87%.

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.