Forbes Financial Planning Inc. Has $5.12 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Forbes Financial Planning Inc. trimmed its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,454 shares of the iPhone maker's stock after selling 1,379 shares during the period. Apple comprises approximately 3.8% of Forbes Financial Planning Inc.'s portfolio, making the stock its 14th biggest holding. Forbes Financial Planning Inc.'s holdings in Apple were worth $5,122,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Drystone LLC acquired a new stake in shares of Apple in the fourth quarter valued at about $25,000. Life Planning Partners Inc acquired a new stake in shares of Apple in the fourth quarter valued at about $47,000. SPX Gestao de Recursos Ltda acquired a new stake in shares of Apple in the third quarter valued at about $71,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Apple in the third quarter valued at about $77,000. Finally, Pillar Financial Advisors LLC acquired a new stake in shares of Apple in the fourth quarter valued at about $82,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction 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 completion of the sale, the insider now owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 35,493 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the transaction, the chief operating officer now directly owns 390,059 shares of the company's stock, valued at $87,377,116.59. This trade represents a 8.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,507 shares of company stock valued at $42,694,080. Company insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AAPL shares. China Renaissance started coverage on Apple in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on Apple from $270.00 to $245.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Needham & Company LLC reissued a "buy" rating and set a $225.00 target price on shares of Apple in a research report on Friday, May 2nd. DA Davidson lifted their target price on Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, UBS Group reissued a "buy" rating on shares of Apple in a research report on Sunday. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $235.80.

Apple Trading Down 0.5%

AAPL stock traded down $0.94 during trading on Friday, hitting $199.01. The company had a trading volume of 70,744,759 shares, compared to its average volume of 56,229,633. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The firm has a 50-day moving average price of $203.10 and a 200-day moving average price of $225.00. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The stock has a market cap of $2.97 trillion, a price-to-earnings ratio of 31.59, a PEG ratio of 2.44 and a beta of 1.27.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter in the previous year, the company posted $1.53 EPS. Apple's revenue was up 5.1% on a year-over-year basis. As a group, analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its shares are undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is currently 16.20%.

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.