Future Financial Wealth Managment LLC Has $2.39 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Future Financial Wealth Managment LLC decreased its stake in Apple Inc. (NASDAQ:AAPL) by 1.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 10,238 shares of the iPhone maker’s stock after selling 112 shares during the quarter. Apple makes up about 1.7% of Future Financial Wealth Managment LLC’s investment portfolio, making the stock its 13th biggest position. Future Financial Wealth Managment LLC’s holdings in Apple were worth $2,385,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AAPL. Hershey Financial Advisers LLC bought a new stake in shares of Apple in the second quarter worth $42,000. Hoese & Co LLP lifted its holdings in Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares during the period. Sage Financial Group Inc. bought a new stake in shares of Apple in the 2nd quarter valued at about $206,000. Benchmark Wealth Management LLC bought a new stake in shares of Apple in the 2nd quarter valued at about $208,000. Finally, SMH Capital Advisors Inc. acquired a new stake in shares of Apple in the second quarter valued at about $209,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock valued at $92,007,745 over the last quarter. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 target price on shares of Apple in a report on Monday. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, October 9th. UBS Group lifted their target price on shares of Apple to $236.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Rosenblatt Securities boosted their target price on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Barclays decreased their price target on Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $235.25.

Apple Price Performance

Shares of NASDAQ AAPL opened at $232.87 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The stock has a fifty day simple moving average of $228.06 and a two-hundred day simple moving average of $218.64. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The firm has a market cap of $3.52 trillion, a price-to-earnings ratio of 38.30, a price-to-earnings-growth ratio of 2.25 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the prior year, the company earned $1.46 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. Analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The firm 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 of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s payout ratio is 16.45%.

Apple Company 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.