Summit Wealth & Retirement Planning Inc. Acquires 129 Shares of Apple Inc. (NASDAQ:AAPL)

Summit Wealth & Retirement Planning Inc. grew its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,005 shares of the iPhone maker’s stock after purchasing an additional 129 shares during the quarter. Apple makes up 0.9% of Summit Wealth & Retirement Planning Inc.’s portfolio, making the stock its 25th biggest position. Summit Wealth & Retirement Planning Inc.’s holdings in Apple were worth $2,462,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. CFS Investment Advisory Services LLC raised its holdings in shares of Apple by 18,263.5% in the 1st quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock valued at $47,000 after purchasing an additional 7,416,445 shares in the last quarter. Spence Asset Management bought a new stake in shares of Apple in the 2nd quarter valued at about $49,000. HBC Financial Services PLLC raised its holdings in shares of Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares in the last quarter. Emerson Wealth LLC raised its holdings in shares of Apple by 363.6% in the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after purchasing an additional 320 shares in the last quarter. Finally, Econ Financial Services Corp raised its holdings in shares of Apple by 29.1% in the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock valued at $74,000 after purchasing an additional 95 shares in the last quarter. Institutional investors own 57.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AAPL shares. Wedbush cut their price objective on shares of Apple from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, October 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $170.00 price objective on shares of Apple in a research report on Tuesday, November 8th. Bank of America cut their price objective on shares of Apple from $160.00 to $154.00 and set a “neutral” rating on the stock in a research report on Monday, November 7th. Citigroup reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Apple in a research report on Tuesday, November 8th. Finally, Barclays cut their price objective on shares of Apple from $156.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, November 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.26.

Apple Stock Performance

AAPL opened at $151.29 on Friday. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85. The firm has a fifty day moving average price of $147.08 and a 200 day moving average price of $149.95. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The stock has a market cap of $2.41 trillion, a P/E ratio of 24.76, a P/E/G ratio of 1.90 and a beta of 1.25.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.02. The company had revenue of $90.15 billion during the quarter, compared to analysts’ expectations of $88.77 billion. Apple had a net margin of 25.31% and a return on equity of 160.90%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.24 earnings per share. Equities research analysts anticipate that Apple Inc. will post 6.26 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s dividend payout ratio is presently 15.06%.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 8,053 shares of the company’s stock in a transaction on Monday, October 17th. The shares were sold at an average price of $142.45, for a total transaction of $1,147,149.85. Following the completion of the transaction, the senior vice president now directly owns 136,290 shares in the company, valued at $19,414,510.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, SVP Deirdre O’brien sold 8,053 shares of the company’s stock in a transaction on Monday, October 17th. The shares were sold at an average price of $142.45, for a total transaction of $1,147,149.85. Following the completion of the transaction, the senior vice president now directly owns 136,290 shares in the company, valued at $19,414,510.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 176,299 shares of the stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 360,651 shares of company stock worth $53,703,645. Company insiders own 0.06% of the company’s stock.

Apple Profile

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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