Foster Group Inc. Acquires 2,472 Shares of Apple Inc. (NASDAQ:AAPL)

Foster Group Inc. grew its stake in Apple Inc. (NASDAQ:AAPL) by 1.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,028 shares of the iPhone maker’s stock after acquiring an additional 2,472 shares during the period. Apple accounts for approximately 1.2% of Foster Group Inc.’s holdings, making the stock its 26th largest position. Foster Group Inc.’s holdings in Apple were worth $30,967,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brown Financial Advisory raised its position in Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after purchasing an additional 50 shares during the last quarter. Core Wealth Management Inc. increased its position in Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after purchasing an additional 50 shares during the period. Klein Pavlis & Peasley Financial Inc. raised its holdings in Apple by 1.1% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after purchasing an additional 51 shares during the last quarter. Foresight Capital Management Advisors Inc. lifted its position in shares of Apple by 0.3% in the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock worth $4,003,000 after purchasing an additional 55 shares during the period. Finally, Altus Wealth Management LLC boosted its stake in shares of Apple by 0.6% in the 2nd quarter. Altus Wealth Management LLC now owns 9,508 shares of the iPhone maker’s stock valued at $2,002,000 after purchasing an additional 55 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Trading Down 0.2 %

Shares of AAPL opened at $229.04 on Friday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The business has a 50-day moving average of $223.25 and a 200 day moving average of $205.14. The firm has a market cap 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. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. The firm had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $1.26 earnings per share. As a group, research analysts forecast that Apple Inc. will post 6.7 EPS for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a $0.25 dividend. The ex-dividend date 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%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Robert W. Baird upped their price target on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Wedbush reaffirmed an “outperform” rating and issued a $285.00 target price on shares of Apple in a research report on Monday, September 9th. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price target on shares of Apple in a report on Tuesday, September 10th. Finally, Barclays restated an “underweight” rating and set a $186.00 price objective on shares of Apple in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $239.27.

Insider Activity

In other Apple news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Apple news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 517,924 shares of company stock worth $114,786,399. 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.