Planned Solutions Inc. Reduces Holdings in Apple Inc. (NASDAQ:AAPL)

Planned Solutions Inc. cut its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 31.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,248 shares of the iPhone maker's stock after selling 5,652 shares during the quarter. Apple comprises approximately 1.1% of Planned Solutions Inc.'s portfolio, making the stock its 17th largest holding. Planned Solutions Inc.'s holdings in Apple were worth $2,721,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Regent Peak Wealth Advisors LLC lifted its position in Apple by 0.9% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 111,858 shares of the iPhone maker's stock valued at $28,012,000 after purchasing an additional 1,050 shares during the period. Tallon Kerry Patrick purchased a new position in shares of Apple during the 4th quarter worth approximately $1,877,000. JGP Wealth Management LLC lifted its holdings in shares of Apple by 0.6% in the 4th quarter. JGP Wealth Management LLC now owns 221,319 shares of the iPhone maker's stock valued at $55,423,000 after buying an additional 1,424 shares during the period. Omega Financial Group LLC boosted its stake in shares of Apple by 5.4% in the fourth quarter. Omega Financial Group LLC now owns 6,919 shares of the iPhone maker's stock valued at $1,733,000 after buying an additional 352 shares in the last quarter. Finally, Capital Advisors Wealth Management LLC boosted its stake in shares of Apple by 4.8% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 52,944 shares of the iPhone maker's stock valued at $13,258,000 after buying an additional 2,414 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apple

In related 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 transaction, the insider owned 15,533 shares in the company, 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 SEC, which can be accessed through this link. Also, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the sale, the chief financial officer owned 4,569 shares of the company's stock, valued at approximately $941,214. This represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company's stock.

Apple Trading Up 0.4%

Shares of AAPL stock traded up $0.92 on Thursday, reaching $213.36. 34,926,355 shares of the stock were exchanged, compared to its average volume of 53,553,501. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The stock has a market cap of $3.19 trillion, a P/E ratio of 33.23, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. The firm has a 50 day moving average of $203.16 and a two-hundred day moving average of $219.40. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The firm's revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.53 earnings per share. On average, research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

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

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is 16.20%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Scotiabank downgraded Apple to a "market perform" rating in a report on Friday, May 2nd. Evercore ISI raised their price objective on shares of Apple to $250.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Tigress Financial upped their target price on shares of Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a research report on Thursday, April 3rd. JPMorgan Chase & Co. decreased their price target on Apple from $245.00 to $230.00 and set an "overweight" rating on the stock in a research note on Thursday, June 26th. Finally, KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and a consensus price target of $234.95.

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.