Fonville Wealth Management LLC Has $4.61 Million Stake in Apple Inc. (NASDAQ:AAPL)

Fonville Wealth Management LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 12.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,884 shares of the iPhone maker’s stock after buying an additional 2,339 shares during the quarter. Apple comprises approximately 1.8% of Fonville Wealth Management LLC’s investment portfolio, making the stock its 18th biggest position. Fonville Wealth Management LLC’s holdings in Apple were worth $4,609,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Apple by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after buying an additional 18,067,216 shares in the last quarter. Swedbank AB acquired a new position in shares of Apple during the first quarter worth $3,026,492,000. Global Assets Advisory LLC lifted its stake in shares of Apple by 23,076.4% in the 1st quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock valued at $1,584,512,000 after acquiring an additional 9,200,345 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Apple by 158.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after acquiring an additional 7,067,379 shares during the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Apple by 161.2% in the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after purchasing an additional 5,405,542 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. KeyCorp reaffirmed a “hold” rating and issued a $247.61 price objective on shares of Apple in a research note on Wednesday, August 28th. Robert W. Baird increased their price objective on Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Raymond James upped their price target on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Loop Capital raised Apple from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $170.00 to $300.00 in a research note on Monday, July 15th. Finally, StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.27.

Apple Stock Performance

Shares of Apple stock opened at $229.04 on Friday. The business’s fifty day simple moving average is $223.25 and its 200 day simple moving average is $205.14. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23. The firm has a market capitalization of $3.51 trillion, a P/E ratio of 35.62, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.26 EPS. As a group, analysts anticipate that Apple Inc. will post 6.7 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Insiders Place Their Bets

In other news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock valued at $114,786,399 over the last ninety days. 0.06% of the stock is currently owned by insiders.

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.