Apple Inc. (NASDAQ:AAPL) Shares Acquired by Consolidated Planning Corp

Key Points

• Consolidated Planning Corp increased its stake in Apple Inc. by 4.9%, now holding 80,783 shares valued at approximately $17.94 million.
• Apple reported a quarterly earnings per share of $1.57, exceeding estimates and showcasing a revenue increase of 9.6% year-over-year, totaling $94.04 billion.
• The company declared a quarterly dividend of $0.26 per share, with a payout ratio of 15.78% and a dividend yield of 0.5%.

Consolidated Planning Corp grew its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,783 shares of the iPhone maker's stock after buying an additional 3,793 shares during the quarter. Apple comprises 2.5% of Consolidated Planning Corp's holdings, making the stock its 8th biggest position. Consolidated Planning Corp's holdings in Apple were worth $17,944,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Burkett Financial Services LLC increased its position in shares of Apple by 0.6% in the first 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 in the last quarter. Avid Wealth Partners LLC increased its position in shares of Apple by 28.3% in the first 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 in the last quarter. OneAscent Wealth Management LLC increased its position in shares of Apple by 4.6% in the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after acquiring an additional 409 shares in the last quarter. TruWealth Advisors LLC increased its position in shares of Apple by 2.8% in the first 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. Finally, Allstate Corp grew its position in Apple by 3,368.2% during the fourth quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock valued at $113,062,000 after purchasing an additional 438,471 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 4,486 shares of the company's 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 directly owned 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

AAPL has been the topic of a number of research analyst reports. DA Davidson reaffirmed a "buy" rating and set a $250.00 price objective on shares of Apple in a research report on Friday. Jefferies Financial Group raised shares of Apple from an "underperform" rating to a "hold" rating in a research report on Friday, July 18th. Bank of America boosted their price objective on shares of Apple from $235.00 to $240.00 and gave the company a "buy" rating in a research report on Friday. Citigroup boosted their price objective on shares of Apple from $240.00 to $245.00 and gave the company a "buy" rating in a research report on Friday. Finally, China Renaissance began coverage on shares of Apple in a research report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price objective on the stock. Two equities research 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $237.25.

Apple Stock Performance

NASDAQ:AAPL traded up $0.97 during trading hours on Monday, hitting $203.35. 74,983,799 shares of the company traded hands, compared to its average volume of 57,129,035. The stock has a market capitalization of $3.04 trillion, a price-to-earnings ratio of 30.86, a P/E/G ratio of 2.20 and a beta of 1.16. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The firm has a 50-day moving average of $205.37 and a 200 day moving average of $213.50. 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 released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business's quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.40 EPS. On average, analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its board has authorized a stock repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Apple Dividend Announcement

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

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.