Total Wealth Planning & Management Inc. Purchases Shares of 14,132 Apple Inc. (NASDAQ:AAPL)

Total Wealth Planning & Management Inc. purchased a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,132 shares of the iPhone maker's stock, valued at approximately $3,539,000. Apple makes up about 3.2% of Total Wealth Planning & Management Inc.'s portfolio, making the stock its 2nd largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Drystone LLC bought a new position in shares of Apple during the 4th quarter valued at about $25,000. Conquis Financial LLC bought a new position in shares of Apple during the 4th quarter valued at about $63,000. LSV Asset Management bought a new position in shares of Apple during the 4th quarter valued at about $65,000. Pillar Financial Advisors LLC bought a new position in shares of Apple during the 4th quarter valued at about $82,000. Finally, Compass Planning Associates Inc bought a new position in shares of Apple during the 4th quarter valued at about $96,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Activity

In other news, COO Jeffrey E. Williams sold 35,493 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was 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 in the company, valued at $87,377,116.59. This trade represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider now owns 15,533 shares of the company's stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock worth $42,694,080 in the last quarter. 0.06% of the stock is owned by company insiders.

Apple Price Performance

Shares of AAPL stock opened at $201.00 on Friday. The firm has a market cap of $3.00 trillion, a P/E ratio of 31.31, a P/E/G ratio of 2.24 and a beta of 1.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The business's 50 day moving average price is $202.35 and its 200-day moving average price is $221.56. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.

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

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

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is presently 16.20%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Bank of America reiterated a "buy" rating and set a $235.00 price objective on shares of Apple in a research report on Tuesday, June 10th. Morgan Stanley reiterated an "overweight" rating on shares of Apple in a research report on Friday, June 13th. Citigroup reiterated a "buy" rating on shares of Apple in a research report on Tuesday, June 10th. JPMorgan Chase & Co. reduced their price objective on Apple from $270.00 to $245.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Finally, TD Cowen reduced their price target on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and a consensus price target of $234.86.

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.

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