Planning Alternatives Ltd. ADV Lowers Holdings in Apple Inc. (NASDAQ:AAPL)

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Planning Alternatives Ltd. ADV decreased its stake in Apple Inc. (NASDAQ:AAPL) by 5.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,045 shares of the iPhone maker’s stock after selling 835 shares during the quarter. Apple makes up 0.5% of Planning Alternatives Ltd. ADV’s holdings, making the stock its 25th largest position. Planning Alternatives Ltd. ADV’s holdings in Apple were worth $2,780,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Centaurus Financial Inc. boosted its stake in shares of Apple by 17.9% in the first quarter. Centaurus Financial Inc. now owns 8,318 shares of the iPhone maker’s stock worth $44,000 after buying an additional 1,262 shares during the last quarter. Semmax Financial Advisors Inc. purchased a new stake in shares of Apple in the fourth quarter worth about $50,000. NuWave Investment Management LLC boosted its stake in shares of Apple by 2,245.0% in the second quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock worth $93,000 after buying an additional 449 shares during the last quarter. INR Advisory Services LLC purchased a new stake in shares of Apple in the fourth quarter worth about $124,000. Finally, Denali Advisors LLC boosted its stake in shares of Apple by 12.5% in the second quarter. Denali Advisors LLC now owns 900 shares of the iPhone maker’s stock worth $178,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 59.67% of the company’s stock.

In other Apple news, Director Arthur D. Levinson sold 17,500 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $214.02, for a total transaction of $3,745,350.00. Following the completion of the sale, the director now owns 1,150,783 shares of the company’s stock, valued at $246,290,577.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,376 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $217.47, for a total value of $951,648.72. The disclosure for this sale can be found here. 0.05% of the stock is owned by company insiders.

A number of analysts have recently commented on the company. Raymond James upgraded Apple from a “market perform” rating to an “outperform” rating and set a $250.00 target price on the stock in a research note on Thursday, July 18th. Morgan Stanley set a $247.00 target price on Apple and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Barclays assumed coverage on Apple in a research report on Wednesday, August 7th. They set an “equal weight” rating and a $192.00 price target on the stock. Maxim Group lowered their price target on Apple to $211.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. Finally, ValuEngine downgraded Apple from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $217.12.

NASDAQ:AAPL opened at $208.97 on Wednesday. Apple Inc. has a one year low of $142.00 and a one year high of $233.47. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.47 and a current ratio of 1.50. The firm has a market capitalization of $908.31 billion, a PE ratio of 17.55, a PEG ratio of 1.69 and a beta of 1.25. The firm has a 50 day moving average of $203.54.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, beating the consensus estimate of $2.10 by $0.08. The firm had revenue of $53.81 billion during the quarter, compared to analysts’ expectations of $53.39 billion. Apple had a return on equity of 52.13% and a net margin of 21.50%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.34 earnings per share. As a group, sell-side analysts forecast that Apple Inc. will post 11.58 EPS for the current year.

Apple declared that its board has approved a stock repurchase program on Tuesday, April 30th that permits the company to buyback $75.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, August 12th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $3.08 annualized dividend and a yield of 1.47%. Apple’s dividend payout ratio (DPR) is 25.86%.

Apple Company Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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