Capasso Planning Partners LLC Sells 1,710 Shares of Apple Inc. (NASDAQ:AAPL)

Key Points

• Capasso Planning Partners LLC reduced its stake in Apple Inc. by 6.6%, selling 1,710 shares, which left them with 24,282 shares valued at approximately $5.39 million.
• Apple recently reported strong quarterly earnings with a EPS of $1.57, surpassing expectations, alongside a revenue of $94.04 billion, representing a 9.6% year-over-year increase.
• The company declared a quarterly dividend of $0.26 per share to be paid out on August 14th, indicating a dividend yield of 0.5% and a payout ratio of 15.78%.

Capasso Planning Partners LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,282 shares of the iPhone maker's stock after selling 1,710 shares during the quarter. Apple makes up about 2.3% of Capasso Planning Partners LLC's holdings, making the stock its 10th largest position. Capasso Planning Partners LLC's holdings in Apple were worth $5,394,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of AAPL. Life Planning Partners Inc acquired a new position in Apple in the fourth quarter valued at $47,000. Conquis Financial LLC acquired a new stake in shares of Apple during the fourth quarter worth about $63,000. LSV Asset Management acquired a new stake in shares of Apple during the fourth quarter worth about $65,000. Pillar Financial Advisors LLC acquired a new stake in shares of Apple during the fourth quarter worth about $82,000. Finally, Compass Planning Associates Inc acquired a new stake in shares of Apple during the fourth quarter worth about $96,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In related news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AAPL. Rosenblatt Securities reiterated a "neutral" rating and set a $217.00 target price on shares of Apple in a research note on Tuesday, July 29th. Wedbush reiterated an "outperform" rating and set a $270.00 target price on shares of Apple in a research note on Thursday. Citigroup increased their target price on shares of Apple from $240.00 to $245.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Jefferies Financial Group upgraded shares of Apple from an "underperform" rating to a "hold" rating in a research note on Friday, July 18th. Finally, China Renaissance began coverage on shares of Apple in a research note on Tuesday, April 22nd. They set a "buy" rating and a $241.00 target price for the company. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $237.60.

Apple Price Performance

Shares of AAPL traded up $9.32 during mid-day trading on Friday, reaching $229.35. 113,661,399 shares of the company's stock were exchanged, compared to its average volume of 56,719,256. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The company has a 50-day simple moving average of $206.84 and a two-hundred day simple moving average of $213.14. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a market cap of $3.40 trillion, a price-to-earnings ratio of 34.80, a PEG ratio of 2.40 and a beta of 1.16.

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 for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. During the same period last year, the company posted $1.40 EPS. The company's revenue was up 9.6% on a year-over-year basis. On average, 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 initiated a share buyback program on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Apple Announces Dividend

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