Fortis Capital Advisors LLC Purchases 6,750 Shares of Apple Inc. (NASDAQ:AAPL)

Fortis Capital Advisors LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 10.0% during the second quarter, Holdings Channel reports. The institutional investor owned 74,059 shares of the iPhone maker’s stock after purchasing an additional 6,750 shares during the period. Apple comprises about 5.6% of Fortis Capital Advisors LLC’s portfolio, making the stock its 5th largest holding. Fortis Capital Advisors LLC’s holdings in Apple were worth $15,598,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in AAPL. Fidelis Capital Partners LLC raised its stake in shares of Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares during the last quarter. Access Investment Management LLC purchased a new stake in shares of Apple in the first quarter worth approximately $140,000. Hoese & Co LLP raised its stake in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the last quarter. Benchmark Wealth Management LLC purchased a new stake in shares of Apple in the second quarter worth approximately $208,000. Finally, Compass Financial Group Inc. purchased a new stake in shares of Apple in the first quarter worth approximately $210,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Trading Up 1.2 %

Shares of AAPL stock opened at $235.00 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The company has a market capitalization of $3.60 trillion, a PE ratio of 36.55, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The business’s fifty day moving average is $225.78 and its 200 day moving average is $207.84.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter last year, the business posted $1.26 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently commented on AAPL shares. The Goldman Sachs Group increased their price objective on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $245.00 target price on shares of Apple in a report on Monday, September 9th. Piper Sandler Companies reaffirmed a “neutral” rating and issued a $225.00 target price (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 target price on shares of Apple in a report on Tuesday, September 10th. Finally, New Street Research reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.27.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 517,924 shares of company stock worth $114,786,399. Corporate insiders own 0.06% of the company’s stock.

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.