Apple Inc. (NASDAQ:AAPL) is Fortune Financial Advisors LLC’s 4th Largest Position

Fortune Financial Advisors LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,021 shares of the iPhone maker’s stock after acquiring an additional 80 shares during the quarter. Apple makes up about 3.1% of Fortune Financial Advisors LLC’s portfolio, making the stock its 4th biggest position. Fortune Financial Advisors LLC’s holdings in Apple were worth $5,059,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. American Century Companies Inc. boosted its holdings in shares of Apple by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after buying an additional 1,065,759 shares in the last quarter. Ground Swell Capital LLC purchased a new position in Apple in the second quarter worth $666,000. Hazlett Burt & Watson Inc. increased its position in shares of Apple by 0.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 51,816 shares of the iPhone maker’s stock worth $10,909,000 after purchasing an additional 253 shares in the last quarter. Trifecta Capital Advisors LLC lifted its holdings in shares of Apple by 1.2% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 113,029 shares of the iPhone maker’s stock valued at $23,806,000 after purchasing an additional 1,305 shares during the last quarter. Finally, Wellington Shields & Co. LLC lifted its holdings in shares of Apple by 3.6% during the 2nd quarter. Wellington Shields & Co. LLC now owns 111,335 shares of the iPhone maker’s stock valued at $23,449,000 after purchasing an additional 3,900 shares during the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock worth $114,786,399 over the last 90 days. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Raymond James upped their target price on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Maxim Group restated a “hold” rating and set a $203.00 price objective on shares of Apple in a report on Tuesday, September 10th. Oppenheimer reiterated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. StockNews.com raised shares of Apple from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average price target of $235.91.

Apple Price Performance

Shares of Apple stock opened at $233.67 on Wednesday. The firm has a market cap of $3.58 trillion, a PE ratio of 36.34, a P/E/G ratio of 2.40 and a beta of 1.24. The business has a 50-day moving average price of $227.15 and a 200 day moving average price of $211.46. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the prior year, the company posted $1.26 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Sell-side analysts predict that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is 15.55%.

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.