Axim Planning & Wealth Invests $232,000 in Apple Inc. (NASDAQ:AAPL)

Axim Planning & Wealth purchased a new position in Apple Inc. (NASDAQ:AAPL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,206 shares of the iPhone maker’s stock, valued at approximately $232,000. Apple makes up about 0.2% of Axim Planning & Wealth’s portfolio, making the stock its 24th biggest holding.

Other large investors also recently added to or reduced their stakes in the company. Wyrmwood Management LLC boosted its stake in shares of Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after acquiring an additional 69 shares during the last quarter. Gilfoyle & Co LLC raised its position in shares of Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares during the last quarter. PayPay Securities Corp lifted its stake in shares of Apple by 70.2% in the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after buying an additional 210 shares in the last quarter. Cordant Inc. lifted its stake in shares of Apple by 27.7% in the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after buying an additional 140 shares in the last quarter. Finally, Life Planning Partners Inc purchased a new stake in Apple during the 4th quarter valued at about $132,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the sale, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 53,194 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 366,271 shares of company stock worth $63,653,887. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Morgan Stanley increased their price objective on shares of Apple from $210.00 to $216.00 and gave the company an “overweight” rating in a report on Friday. Maxim Group initiated coverage on Apple in a research note on Wednesday, April 17th. They set a “hold” rating and a $178.00 price objective on the stock. DZ Bank reaffirmed a “hold” rating and issued a $180.00 target price on shares of Apple in a research note on Thursday, March 28th. Needham & Company LLC reissued a “buy” rating and set a $220.00 price target on shares of Apple in a research report on Friday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Apple from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Friday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.72.

Apple Stock Up 6.0 %

Shares of Apple stock opened at $183.38 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $199.62. The company has a market capitalization of $2.83 trillion, a P/E ratio of 28.56, a P/E/G ratio of 2.05 and a beta of 1.26. The company has a 50 day moving average of $172.15 and a 200 day moving average of $181.57.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. The business had revenue of $90.75 billion during the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.52 EPS. As a group, research analysts forecast that Apple Inc. will post 6.53 EPS for the current fiscal year.

Apple announced that its board has authorized a share repurchase program on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 13th will be given a dividend of $0.25 per share. This is a boost from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Friday, May 10th. Apple’s dividend payout ratio is currently 14.95%.

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.