Apple Inc. (NASDAQ:AAPL) Stake Raised by Retirement Solution LLC

Retirement Solution LLC boosted its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 289.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,398 shares of the iPhone maker's stock after purchasing an additional 35,232 shares during the quarter. Apple comprises approximately 2.9% of Retirement Solution LLC's investment portfolio, making the stock its 8th largest holding. Retirement Solution LLC's holdings in Apple were worth $10,529,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Drystone LLC purchased a new position in Apple during the fourth quarter worth about $25,000. Life Planning Partners Inc bought a new stake in Apple in the 4th quarter valued at about $47,000. Conquis Financial LLC bought a new stake in Apple in the 4th quarter valued at about $63,000. LSV Asset Management purchased a new position in Apple during the 4th quarter valued at about $65,000. Finally, Pillar Financial Advisors LLC purchased a new position in Apple during the 4th quarter valued at about $82,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Activity

In related news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider directly owned 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.06% of the company's stock.

Apple Stock Performance

AAPL stock traded down $0.25 during trading on Wednesday, reaching $214.15. The stock had a trading volume of 46,876,618 shares, compared to its average volume of 53,159,595. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The stock's 50 day moving average is $204.67 and its two-hundred day moving average is $215.18. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The firm has a market cap of $3.20 trillion, a PE ratio of 33.36, a PEG ratio of 2.40 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last issued 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. The business had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The company's revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.53 EPS. As a group, equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its board has authorized a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Apple Increases Dividend

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

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research analyst reports. Morgan Stanley reiterated an "overweight" rating on shares of Apple in a research report on Friday, June 13th. Evercore ISI raised their price target on Apple to $250.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Scotiabank downgraded Apple to a "market perform" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. upped their target price on Apple from $230.00 to $250.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Finally, Raymond James Financial reduced their target price on Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $235.11.

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.