Forbes Financial Planning Inc. Makes New $8.04 Million Investment in Apple Inc. $AAPL

Key Points

• Forbes Financial Planning Inc. opened a new position in Apple during the fourth quarter, buying 29,578 shares worth about $8.04 million. Apple now makes up 4.7% of the firm’s portfolio and is its 11th-largest holding.
• Apple reported strong quarterly results, with earnings per share of $2.01 and revenue of $111.18 billion, both topping analyst expectations. Revenue rose 16.6% year over year, and the company said quarterly results beat consensus estimates.
• The company also raised its quarterly dividend to $0.27 per share from $0.26, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $305.74.

Forbes Financial Planning Inc. purchased a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 29,578 shares of the iPhone maker's stock, valued at approximately $8,041,000. Apple comprises 4.7% of Forbes Financial Planning Inc.'s investment portfolio, making the stock its 11th biggest holding.

Several other large investors also recently modified their holdings of the stock. Overbrook Management Corp grew its holdings in shares of Apple by 57.4% during the fourth quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker's stock worth $28,449,000 after purchasing an additional 38,174 shares in the last quarter. Citizens Financial Group Inc. RI boosted its stake in shares of Apple by 48.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,426,605 shares of the iPhone maker's stock valued at $363,256,000 after purchasing an additional 465,393 shares in the last quarter. Tufton Capital Management grew its holdings in shares of Apple by 4.3% during the 3rd quarter. Tufton Capital Management now owns 100,130 shares of the iPhone maker's stock valued at $25,496,000 after purchasing an additional 4,157 shares during the last quarter. Montis Financial LLC grew its holdings in shares of Apple by 15.8% during the 3rd quarter. Montis Financial LLC now owns 77,919 shares of the iPhone maker's stock valued at $19,841,000 after purchasing an additional 10,640 shares during the last quarter. Finally, Silver Oak Securities Incorporated raised its position in Apple by 21.1% in the 3rd quarter. Silver Oak Securities Incorporated now owns 120,674 shares of the iPhone maker's stock worth $30,727,000 after purchasing an additional 21,054 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Insiders Place Their Bets

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the firm's stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the transaction, the chief financial officer directly owned 13,366 shares of the company's stock, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Deirdre O'brien sold 30,002 shares of Apple stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total value of $7,661,010.70. Following the transaction, the senior vice president directly owned 136,810 shares in the company, valued at approximately $34,934,433.50. The trade was a 17.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 96,485 shares of company stock valued at $24,594,845. Insiders own 0.06% of the company's stock.

Apple Trading Up 2.0%

NASDAQ AAPL opened at $293.25 on Friday. Apple Inc. has a 12 month low of $193.46 and a 12 month high of $294.76. The stock has a market cap of $4.31 trillion, a P/E ratio of 35.46, a P/E/G ratio of 2.50 and a beta of 1.06. The stock's fifty day moving average price is $261.85 and its 200-day moving average price is $266.04. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating the consensus estimate of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company had revenue of $111.18 billion for the quarter, compared to analysts' expectations of $109.46 billion. During the same period last year, the firm posted $1.65 earnings per share. Apple's revenue was up 16.6% compared to the same quarter last year. As a group, equities analysts forecast that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Monday, May 11th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, May 11th. This is a positive change from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio is 12.58%.

Analyst Ratings Changes

Several analysts have weighed in on AAPL shares. KeyCorp reissued a "sector weight" rating on shares of Apple in a research note on Thursday, March 12th. Phillip Securities raised Apple from a "moderate sell" rating to a "hold" rating in a research note on Sunday, February 1st. DA Davidson restated a "neutral" rating and set a $270.00 target price on shares of Apple in a report on Friday, May 1st. Jefferies Financial Group set a $330.00 price objective on Apple in a report on Wednesday, March 4th. Finally, Evercore reissued an "outperform" rating on shares of Apple in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $305.74.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Wedbush lifted Apple’s price target to $400 and said AI could drive a major growth wave for AAPL. Apple price target boosted by Wedbush on AI monetization expectations
• Positive Sentiment: Reports that Apple reached a preliminary chip-making deal with Intel boosted confidence in Apple’s manufacturing strategy and supply chain flexibility. Apple, Intel Have Reached Preliminary Chip-Making Agreement
• Positive Sentiment: Analysts see WWDC as a potential inflection point, with upcoming AI-related software features seen as a possible catalyst for Apple’s next leg higher. Apple’s biggest bull is now calling for a 37% stock jump
• Neutral Sentiment: Apple remains near its recent highs after strong quarterly results, keeping investor expectations elevated ahead of the next catalyst. Dow Jones Futures: Market At Highs With Iran, Trump-Xi Summit In Focus; Apple, Nvidia, Boeing In Buy Areas
• Negative Sentiment: Apple also faces ongoing legal and regulatory noise, including a Siri settlement and App Store antitrust disputes, which could weigh on sentiment if they escalate. Apple promised a smarter Siri, but a lawsuit says it didn’t deliver—and you can get up to $95 back

Apple Company Profile

Apple Inc NASDAQ: AAPL is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple's principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

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