Fortem Financial Group LLC Has $5.15 Million Position in Apple Inc. (NASDAQ:AAPL)

Fortem Financial Group LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 2.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,452 shares of the iPhone maker’s stock after selling 507 shares during the quarter. Apple accounts for approximately 2.2% of Fortem Financial Group LLC’s investment portfolio, making the stock its 11th largest position. Fortem Financial Group LLC’s holdings in Apple were worth $5,150,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Davis Capital Management raised its holdings in Apple by 1.4% during the 1st quarter. Davis Capital Management now owns 14,679 shares of the iPhone maker’s stock worth $2,496,000 after purchasing an additional 203 shares during the last quarter. Insight Wealth Strategies LLC raised its holdings in Apple by 43.4% during the 1st quarter. Insight Wealth Strategies LLC now owns 60,185 shares of the iPhone maker’s stock worth $10,320,000 after purchasing an additional 18,224 shares during the last quarter. Somerset Trust Co raised its holdings in Apple by 0.9% during the 1st quarter. Somerset Trust Co now owns 55,827 shares of the iPhone maker’s stock worth $9,573,000 after purchasing an additional 471 shares during the last quarter. Prism Advisors Inc. raised its holdings in Apple by 12.7% during the 1st quarter. Prism Advisors Inc. now owns 6,143 shares of the iPhone maker’s stock worth $1,053,000 after purchasing an additional 693 shares during the last quarter. Finally, Hilltop Wealth Advisors LLC bought a new position in Apple during the 1st quarter worth approximately $686,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Trading Up 1.2 %

Shares of Apple stock opened at $235.00 on Friday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The stock’s 50-day simple moving average is $225.78 and its 200 day simple moving average is $207.84. The stock has a market capitalization of $3.60 trillion, a P/E ratio of 36.55, a P/E/G ratio of 2.40 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 announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same period in the previous year, the business posted $1.26 EPS. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, research analysts anticipate that Apple Inc. will post 6.65 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is presently 15.55%.

Analysts Set New Price Targets

AAPL has been the subject of several research analyst reports. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, October 9th. Oppenheimer reiterated a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Tuesday, October 1st. Bank of America reiterated a “buy” rating and issued a $256.00 price objective on shares of Apple in a research note on Thursday, October 3rd. Cfra lifted their price objective on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, New Street Research reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $239.27.

Insider Activity

In other news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 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 value of $13,433,768.60. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the company’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 transaction of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock worth $114,786,399 over the last ninety days. Company insiders own 0.06% of the company’s stock.

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.