Fortune Financial Advisors LLC Has $3.33 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Fortune Financial Advisors LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 40.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,301 shares of the iPhone maker’s stock after selling 9,720 shares during the period. Apple accounts for 3.0% of Fortune Financial Advisors LLC’s holdings, making the stock its 4th biggest position. Fortune Financial Advisors LLC’s holdings in Apple were worth $3,332,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its stake in shares of Apple by 20,372.7% during the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after buying an additional 93,886,664 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Apple by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock valued at $11,160,183,000 after acquiring an additional 2,785,807 shares during the period. Ameriprise Financial Inc. lifted its position in Apple by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after acquiring an additional 3,245,281 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Apple by 3.2% during the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after acquiring an additional 1,065,759 shares during the period. Finally, Swedbank AB grew its position in shares of Apple by 13.4% in the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after purchasing an additional 2,359,409 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AAPL has been the subject of several recent research reports. Monness Crespi & Hardt restated a “buy” rating and issued a $245.00 price target on shares of Apple in a research note on Monday, September 9th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price on shares of Apple in a research report on Tuesday, December 10th. UBS Group reaffirmed a “neutral” rating and set a $236.00 price target on shares of Apple in a research report on Monday, December 2nd. New Street Research reissued a “neutral” rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Finally, Wedbush raised their target price on shares of Apple from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $237.47.

Apple Trading Up 0.3 %

NASDAQ:AAPL opened at $259.02 on Friday. The company has a market cap of $3.92 trillion, a PE ratio of 42.60, a PEG ratio of 2.41 and a beta of 1.23. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. The firm has a 50-day moving average of $237.00 and a 200-day moving average of $227.21.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same quarter last year, the company earned $1.46 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. Apple’s payout ratio is 16.45%.

Insider Activity

In related news, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the sale, the senior vice president now owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This trade represents a 24.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. This trade represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 508,170 shares of company stock worth $117,004,745 over the last quarter. 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.