Founders Capital Management Sells 667 Shares of Apple Inc. (NASDAQ:AAPL)

Founders Capital Management lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,880 shares of the iPhone maker’s stock after selling 667 shares during the period. Apple comprises 6.2% of Founders Capital Management’s holdings, making the stock its 3rd biggest holding. Founders Capital Management’s holdings in Apple were worth $9,736,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Envision Financial LLC acquired a new position in shares of Apple in the fourth quarter worth about $512,000. HFG Wealth Management LLC boosted its holdings in shares of Apple by 3.8% in the fourth quarter. HFG Wealth Management LLC now owns 9,982 shares of the iPhone maker’s stock worth $2,326,000 after buying an additional 366 shares during the period. Asset Allocation & Management Company LLC acquired a new position in shares of Apple in the fourth quarter worth about $1,202,000. Cardano Risk Management B.V. boosted its holdings in shares of Apple by 3.1% in the fourth quarter. Cardano Risk Management B.V. now owns 3,839,577 shares of the iPhone maker’s stock worth $961,506,000 after buying an additional 116,473 shares during the period. Finally, Compton Wealth Advisory Group LLC boosted its holdings in shares of Apple by 0.8% in the fourth quarter. Compton Wealth Advisory Group LLC now owns 64,889 shares of the iPhone maker’s stock worth $16,250,000 after buying an additional 492 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Apple Stock Down 0.1 %

Shares of NASDAQ AAPL opened at $245.55 on Friday. The firm’s 50-day simple moving average is $240.47 and its 200 day simple moving average is $232.55. The company has a market cap of $3.69 trillion, a price-to-earnings ratio of 38.98, a price-to-earnings-growth ratio of 2.43 and a beta of 1.20. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Wall Street Analyst Weigh In

Several brokerages have commented on AAPL. Monness Crespi & Hardt raised their target price on shares of Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Rosenblatt Securities restated a “buy” rating and set a $262.00 price target on shares of Apple in a report on Monday, January 27th. Jefferies Financial Group cut shares of Apple from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $211.84 to $200.75 in a report on Thursday, January 30th. The Goldman Sachs Group raised their price target on shares of Apple from $280.00 to $294.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Finally, Sanford C. Bernstein raised their price target on shares of Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $242.52.

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.