Apple Inc. (NASDAQ:AAPL) Shares Sold by FMA Wealth Management LLC

FMA Wealth Management LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 1.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,348 shares of the iPhone maker’s stock after selling 195 shares during the period. Apple makes up approximately 1.8% of FMA Wealth Management LLC’s holdings, making the stock its 19th largest holding. FMA Wealth Management LLC’s holdings in Apple were worth $2,411,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Swedbank AB acquired a new position in shares of Apple during the 1st quarter valued at $3,026,492,000. Strategic Financial Concepts LLC lifted its stake in shares of Apple by 14,145.8% during the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after purchasing an additional 7,558,826 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Apple by 158.3% in the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after buying an additional 7,067,379 shares during the period. Lazard Asset Management LLC grew its stake in shares of Apple by 161.2% in the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after buying an additional 5,405,542 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in shares of Apple during the 2nd quarter valued at about $834,368,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Activity

In related news, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. This represents a 24.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 408,170 shares of company stock valued at $92,007,745. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AAPL. Piper Sandler restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 price target on shares of Apple in a report on Monday, November 25th. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a research note on Friday, October 25th. Loop Capital decreased their price objective on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Moffett Nathanson dropped their target price on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $235.68.

Apple Trading Up 0.0 %

Shares of NASDAQ:AAPL opened at $243.04 on Friday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $244.54. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a market cap of $3.67 trillion, a PE ratio of 39.97, a P/E/G ratio of 2.38 and a beta of 1.23. The company’s 50-day moving average price is $230.23 and its 200 day moving average price is $221.05.

Apple (NASDAQ:AAPL) last released its quarterly 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 analysts’ expectations of $94.52 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The firm also recently declared 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 of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. Apple’s payout ratio is 16.45%.

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.