Fortis Capital Advisors LLC Raises Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Fortis Capital Advisors LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 10.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 74,059 shares of the iPhone maker’s stock after acquiring an additional 6,750 shares during the quarter. Apple makes up approximately 5.6% of Fortis Capital Advisors LLC’s holdings, making the stock its 5th biggest holding. Fortis Capital Advisors LLC’s holdings in Apple were worth $15,598,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AAPL. Brown Financial Advisory increased its holdings in Apple by 3.8% during the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after buying an additional 50 shares during the last quarter. Core Wealth Management Inc. increased its holdings in Apple by 1.7% during the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after buying an additional 50 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. increased its holdings in Apple by 1.1% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after buying an additional 51 shares during the last quarter. Foresight Capital Management Advisors Inc. boosted its position in Apple by 0.3% during the second 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 position in Apple by 0.6% during the second quarter. Altus Wealth Management LLC now owns 9,508 shares of the iPhone maker’s stock worth $2,002,000 after purchasing an additional 55 shares during the period. Institutional investors own 60.41% of the company’s stock.

Insider Transactions at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related 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 owns 24,125 shares in the company, valued at $5,223,062.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 517,924 shares of company stock valued at $114,786,399. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Apple stock opened at $235.00 on Friday. The business has a 50 day moving average of $225.78 and a 200-day moving average of $207.84. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The company 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 current ratio of 0.95 and a quick ratio of 0.91.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter in the previous year, the company earned $1.26 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts predict that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have commented on AAPL shares. Wedbush reaffirmed an “outperform” rating and set a $285.00 price objective on shares of Apple in a research report on Monday, September 9th. UBS Group reissued a “hold” rating and issued a $236.00 target price on shares of Apple in a research report on Wednesday. Moffett Nathanson started coverage on shares of Apple in a research report on Monday, August 19th. They issued a “neutral” rating and a $211.00 target price for the company. Loop Capital raised shares of Apple from a “hold” rating to a “buy” rating and boosted their target price for the company from $170.00 to $300.00 in a research report on Monday, July 15th. Finally, Maxim Group reissued a “hold” rating and issued a $203.00 target price on shares of Apple in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $239.27.

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.