WealthPlan Investment Management LLC Acquires Shares of 621,658 Apple Inc. (NASDAQ:AAPL)

WealthPlan Investment Management LLC acquired a new stake in Apple Inc. (NASDAQ:AAPL – Get Rating) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 621,658 shares of the iPhone maker’s stock, valued at approximately $87,616,000. Apple makes up approximately 6.4% of WealthPlan Investment Management LLC’s portfolio, making the stock its biggest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Robinson Value Management Ltd. acquired a new stake in Apple in the 3rd quarter valued at about $28,000. Hanseatic Management Services Inc. increased its position in Apple by 75.4% in the 3rd quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock valued at $34,000 after acquiring an additional 107 shares in the last quarter. Bluestem Financial Advisors LLC grew its position in shares of Apple by 5,935.2% during the 2nd quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock worth $35,000 after buying an additional 229,929 shares during the period. HBC Financial Services PLLC grew its position in shares of Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares during the period. Finally, Ramsey Quantitative Systems acquired a new stake in shares of Apple during the 2nd quarter worth approximately $55,000. Institutional investors and hedge funds own 57.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AAPL shares. StockNews.com started coverage on shares of Apple in a research report on Thursday. They set a “hold” rating for the company. Credit Suisse Group set a $184.00 price objective on shares of Apple in a report on Monday, February 6th. Cowen decreased their price objective on shares of Apple from $200.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. Deutsche Bank Aktiengesellschaft set a $160.00 price objective on shares of Apple in a report on Friday, February 3rd. Finally, Wedbush boosted their price objective on shares of Apple from $180.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, March 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $168.24.

Apple Stock Performance

NASDAQ AAPL opened at $155.00 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.76. The firm’s fifty day moving average price is $146.64 and its two-hundred day moving average price is $145.32. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $179.61. The firm has a market capitalization of $2.45 trillion, a P/E ratio of 26.32, a price-to-earnings-growth ratio of 2.03 and a beta of 1.30.

Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.05). Apple had a return on equity of 163.45% and a net margin of 24.56%. The firm had revenue of $117.15 billion for the quarter, compared to the consensus estimate of $121.67 billion. During the same period last year, the company posted $2.10 earnings per share. The business’s revenue was down 5.5% compared to the same quarter last year. As a group, research analysts anticipate that Apple Inc. will post 6.04 EPS for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Shareholders of record on Monday, February 13th were issued a $0.23 dividend. This is an increase from Apple’s previous quarterly dividend of $0.17. This represents a $0.92 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Friday, February 10th. Apple’s payout ratio is currently 15.62%.

About Apple

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Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.