Strategic Planning Group LLC Reduces Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Strategic Planning Group LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 8.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 118,970 shares of the iPhone maker’s stock after selling 10,342 shares during the period. Apple comprises 5.5% of Strategic Planning Group LLC’s portfolio, making the stock its largest holding. Strategic Planning Group LLC’s holdings in Apple were worth $29,793,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bull Oak Capital LLC lifted its stake in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares in the last quarter. Christopher J. Hasenberg Inc raised its holdings in Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new position in Apple in the 3rd quarter valued at approximately $71,000. Teachers Insurance & Annuity Association of America purchased a new stake in Apple during the 3rd quarter valued at $77,000. Finally, ARK Investment Management LLC bought a new stake in shares of Apple in the 3rd quarter worth $110,000. Institutional investors own 67.73% of the company’s stock.

Apple Stock Up 1.4 %

NASDAQ AAPL opened at $223.75 on Wednesday. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a market cap of $3.36 trillion, a PE ratio of 35.52, a P/E/G ratio of 2.44 and a beta of 1.18. The stock’s 50 day moving average is $231.35 and its 200 day moving average is $233.43.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Apple in a report on Wednesday, February 19th. Bank of America upped their target price on shares of Apple from $253.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, January 31st. KeyCorp reiterated an “underweight” rating and issued a $200.00 price target on shares of Apple in a research note on Friday, January 31st. Rosenblatt Securities restated a “buy” rating and set a $262.00 price objective on shares of Apple in a research report on Monday, January 27th. Finally, DA Davidson set a $290.00 target price on shares of Apple in a research report on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $243.65.

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.