Apple Inc. $AAPL is WealthPlan Investment Management LLC's Largest Position

Key Points

• WealthPlan Investment Management LLC holds a **7.9%** stake in Apple and has made it their **largest position**, with holdings worth approximately **$79.77 million** after a slight reduction in shares.
• Institutional investors currently own **67.73%** of Apple's stock, indicating strong institutional interest in the tech giant.
• Apple recently announced a quarterly dividend of **$0.26** per share, reflecting a **0.4% yield** and a payout ratio of **15.78%**.

WealthPlan Investment Management LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 359,120 shares of the iPhone maker's stock after selling 2,805 shares during the period. Apple comprises approximately 7.9% of WealthPlan Investment Management LLC's holdings, making the stock its largest holding. WealthPlan Investment Management LLC's holdings in Apple were worth $79,771,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AAPL. Burkett Financial Services LLC boosted its position in Apple by 0.6% during the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock worth $3,199,000 after acquiring an additional 93 shares during the period. Avid Wealth Partners LLC lifted its position in shares of Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock worth $935,000 after acquiring an additional 930 shares during the period. OneAscent Wealth Management LLC boosted its position in shares of Apple by 4.6% during the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock valued at $2,337,000 after acquiring an additional 409 shares in the last quarter. Bell & Brown Wealth Advisors LLC raised its holdings in shares of Apple by 0.4% in the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker's stock worth $13,772,000 after buying an additional 240 shares in the last quarter. Finally, TruWealth Advisors LLC boosted its holdings in shares of Apple by 2.8% in the 1st quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock worth $42,045,000 after acquiring an additional 5,120 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Insider Activity at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the transaction, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on AAPL shares. Wedbush reiterated an "outperform" rating and issued a $270.00 price objective on shares of Apple in a research report on Wednesday. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research report on Friday, July 25th. DA Davidson restated a "buy" rating and set a $250.00 price objective on shares of Apple in a report on Friday, August 1st. Rosenblatt Securities restated a "neutral" rating and set a $217.00 target price on shares of Apple in a research note on Tuesday, July 29th. Finally, Moffett Nathanson upgraded shares of Apple from a "sell" rating to a "neutral" rating and set a $225.00 price target for the company in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $239.05.

Apple Stock Performance

Shares of NASDAQ:AAPL traded down $0.09 during mid-day trading on Friday, reaching $239.69. The company had a trading volume of 54,829,143 shares, compared to its average volume of 47,688,568. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The firm has a market cap of $3.56 trillion, a price-to-earnings ratio of 36.37, a PEG ratio of 2.50 and a beta of 1.11. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company's 50-day moving average price is $219.28 and its 200-day moving average price is $212.64.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter last year, the business posted $1.40 earnings per share. The firm's revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple's dividend payout ratio is 15.78%.

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.