Capasso Planning Partners LLC Has $6.51 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Capasso Planning Partners LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 49.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 25,992 shares of the iPhone maker's stock after selling 25,211 shares during the period. Apple makes up 2.6% of Capasso Planning Partners LLC's investment portfolio, making the stock its 6th biggest position. Capasso Planning Partners LLC's holdings in Apple were worth $6,509,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. O Connor Financial Group LLC raised its position in Apple by 1.2% in the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker's stock worth $896,000 after purchasing an additional 41 shares during the period. Menard Financial Group LLC raised its position in Apple by 0.4% in the 3rd quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker's stock worth $2,848,000 after purchasing an additional 48 shares during the period. Hanseatic Management Services Inc. raised its position in Apple by 1.3% in the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock worth $945,000 after purchasing an additional 48 shares during the period. Family Capital Management Inc. raised its position in Apple by 0.3% in the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock worth $4,235,000 after purchasing an additional 48 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA raised its position in Apple by 0.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock worth $4,178,000 after purchasing an additional 48 shares during the period. 67.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 108,136 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the sale, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider now owns 15,533 shares of the company's stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock valued at $42,694,080 in the last three months. Corporate insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AAPL. Monness Crespi & Hardt lowered their price objective on shares of Apple from $260.00 to $245.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. The Goldman Sachs Group reduced their price target on shares of Apple from $259.00 to $256.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. 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 target on the stock. Oppenheimer cut shares of Apple from an "outperform" rating to a "market perform" rating in a research report on Wednesday, January 29th. Finally, Citigroup restated a "cautious" rating on shares of Apple in a report on Monday, May 5th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $235.80.

Apple Stock Performance

AAPL traded down $0.73 during trading on Thursday, hitting $201.36. The company's stock had a trading volume of 46,619,795 shares, compared to its average volume of 56,066,213. 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 one year low of $169.21 and a one year high of $260.10. The firm has a market cap of $3.01 trillion, a PE ratio of 31.96, a P/E/G ratio of 2.44 and a beta of 1.27. The business's 50 day simple moving average is $205.64 and its 200-day simple moving average is $226.26.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The business had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same period last year, the firm earned $1.53 earnings per share. The company's quarterly revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

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

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.52%. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio (DPR) is presently 16.20%.

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.