Apple Inc. (NASDAQ:AAPL) is Asset Planning Services Inc. LA ADV's 3rd Largest Position

Asset Planning Services Inc. LA ADV grew its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 99,997.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,409,379 shares of the iPhone maker's stock after purchasing an additional 1,407,971 shares during the quarter. Apple makes up approximately 4.0% of Asset Planning Services Inc. LA ADV's portfolio, making the stock its 3rd biggest position. Asset Planning Services Inc. LA ADV's holdings in Apple were worth $313,065,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Life Planning Partners Inc bought a new position in shares of Apple during the fourth quarter valued at approximately $47,000. Conquis Financial LLC bought a new position in shares of Apple during the fourth quarter valued at approximately $63,000. LSV Asset Management bought a new position in shares of Apple during the fourth quarter valued at approximately $65,000. Pillar Financial Advisors LLC bought a new position in Apple in the fourth quarter worth $82,000. Finally, Compass Planning Associates Inc bought a new position in Apple in the fourth quarter worth $96,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Down 0.2%

Shares of AAPL opened at $202.92 on Wednesday. The business's 50 day moving average is $205.58 and its 200 day moving average is $213.24. The company has a market capitalization of $3.01 trillion, a PE ratio of 30.79, a price-to-earnings-growth ratio of 2.14 and a beta of 1.16. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

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

Apple announced that its board has initiated a share buyback program on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 11th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. Apple's payout ratio is presently 15.78%.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider owned 15,533 shares of the company's stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on AAPL. JPMorgan Chase & Co. increased their price objective on Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Citigroup increased their price objective on Apple from $240.00 to $245.00 and gave the stock a "buy" rating in a report on Friday, August 1st. DA Davidson reiterated a "buy" rating and issued a $250.00 price objective on shares of Apple in a report on Friday, August 1st. Wedbush reiterated an "outperform" rating and issued a $270.00 price objective on shares of Apple in a report on Wednesday, July 30th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Apple in a report on Friday, July 25th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $237.25.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.