FSM Wealth Advisors LLC Purchases 1,509 Shares of Apple Inc. (NASDAQ:AAPL)

FSM Wealth Advisors LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 39,955 shares of the iPhone maker’s stock after acquiring an additional 1,509 shares during the quarter. Apple accounts for 2.5% of FSM Wealth Advisors LLC’s portfolio, making the stock its 12th biggest position. FSM Wealth Advisors LLC’s holdings in Apple were worth $9,309,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AAPL. High Net Worth Advisory Group LLC boosted its holdings in shares of Apple by 1.7% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after buying an additional 1,066 shares during the last quarter. Granite Investment Partners LLC boosted its stake in Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after acquiring an additional 7,606 shares during the last quarter. Truist Financial Corp grew its position in shares of Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after acquiring an additional 126,210 shares during the period. Sterling Investment Counsel LLC raised its holdings in shares of Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after purchasing an additional 2,565 shares during the period. Finally, Catalyst Financial Partners LLC lifted its stake in Apple by 4.2% in the third quarter. Catalyst Financial Partners LLC now owns 96,589 shares of the iPhone maker’s stock valued at $22,505,000 after purchasing an additional 3,935 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on AAPL shares. Piper Sandler restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Rosenblatt Securities lifted their target price on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Morgan Stanley restated an “overweight” rating and set a $273.00 price target on shares of Apple in a research note on Friday, December 13th. Finally, Maxim Group lifted their price objective on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $237.64.

Apple Price Performance

Shares of Apple stock opened at $242.70 on Thursday. The business’s 50 day simple moving average is $239.57 and its two-hundred day simple moving average is $229.66. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market capitalization of $3.67 trillion, a P/E ratio of 39.92, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 earnings per share. Analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. Apple’s dividend payout ratio is presently 16.45%.

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.