Founders Financial Securities LLC Has $19.11 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Founders Financial Securities LLC grew its position in Apple Inc. (NASDAQ:AAPL) by 19.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 90,731 shares of the iPhone maker’s stock after buying an additional 14,870 shares during the period. Apple makes up about 1.8% of Founders Financial Securities LLC’s investment portfolio, making the stock its 10th largest holding. Founders Financial Securities LLC’s holdings in Apple were worth $19,110,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital International Investors boosted its holdings in shares of Apple by 7.1% during the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after acquiring an additional 2,474,887 shares during the last quarter. Jennison Associates LLC boosted its holdings in Apple by 1.7% in the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock worth $5,061,296,000 after purchasing an additional 485,873 shares during the last quarter. Swedbank AB grew its position in Apple by 13.4% in the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after purchasing an additional 2,359,409 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Apple by 16.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock valued at $3,085,427,000 after buying an additional 2,594,138 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Apple by 2.5% during the 1st quarter. Nordea Investment Management AB now owns 17,247,950 shares of the iPhone maker’s stock valued at $2,951,297,000 after buying an additional 415,186 shares during the period. Institutional investors own 60.41% of the company’s stock.

Apple Stock Up 0.2 %

Shares of NASDAQ:AAPL opened at $232.15 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The business has a 50 day simple moving average of $225.41 and a two-hundred day simple moving average of $207.39. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The firm has a market capitalization of $3.56 trillion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. During the same period in the previous year, the firm earned $1.26 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. On average, equities analysts predict that Apple Inc. will post 6.65 EPS for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.43%. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Loop Capital upgraded shares of Apple from a “hold” rating to a “buy” rating and increased their price objective for the stock from $170.00 to $300.00 in a research note on Monday, July 15th. Citigroup restated a “buy” rating and issued a $255.00 price objective on shares of Apple in a research note on Wednesday, October 2nd. Cfra lifted their target price on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Raymond James raised their price objective on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Robert W. Baird increased their target price on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $239.27.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Apple 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 transaction of $20,644,000.00. Following the transaction, the senior vice president now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 517,924 shares of company stock worth $114,786,399 in the last ninety days. 0.06% of the stock is owned by company insiders.

Apple 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.