Future Financial Wealth Managment LLC Sells 499 Shares of Apple Inc. (NASDAQ:AAPL)

Future Financial Wealth Managment LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 4.9% during the fourth quarter, HoldingsChannel reports. The fund owned 9,739 shares of the iPhone maker’s stock after selling 499 shares during the quarter. Apple comprises 1.8% of Future Financial Wealth Managment LLC’s holdings, making the stock its 13th biggest position. Future Financial Wealth Managment LLC’s holdings in Apple were worth $2,439,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. O Connor Financial Group LLC lifted its stake in Apple by 1.2% in the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock worth $896,000 after acquiring an additional 41 shares during the period. 1620 Investment Advisors Inc. raised its holdings in Apple by 0.5% in the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock worth $2,249,000 after purchasing an additional 45 shares in the last quarter. Carolina Wealth Advisors LLC raised its holdings in Apple by 1.3% in the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after purchasing an additional 46 shares in the last quarter. Menard Financial Group LLC raised its holdings in Apple by 0.4% in the third quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock worth $2,848,000 after purchasing an additional 48 shares in the last quarter. Finally, Latitude Advisors LLC raised its holdings in Apple by 0.3% in the third quarter. Latitude Advisors LLC now owns 17,236 shares of the iPhone maker’s stock worth $4,016,000 after purchasing an additional 50 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO Jeffrey E. Williams sold 100,000 shares of the 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 sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.

Apple Stock Down 0.1 %

Apple stock opened at $245.55 on Friday. The firm 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 business’s 50-day moving average price is $240.47 and its 200 day moving average price is $232.55. 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 52 week low of $164.07 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. As a group, sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.41%. Apple’s dividend payout ratio is currently 15.87%.

Analyst Ratings Changes

A number of research firms have issued reports on AAPL. Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective for the company. in a report on Tuesday, January 21st. Evercore ISI increased their price objective on Apple to $260.00 and gave the stock a “buy” rating in a report on Thursday. Barclays increased their price objective on Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. KeyCorp restated an “underweight” rating and set a $200.00 price target on shares of Apple in a report on Friday, January 31st. Finally, Jefferies Financial Group downgraded Apple from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $211.84 to $200.75 in a report on Thursday, January 30th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $242.52.

Apple Company Profile

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.