Firestone Capital Management Acquires 140 Shares of Apple Inc. (NASDAQ:AAPL)

Firestone Capital Management increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,786 shares of the iPhone maker’s stock after acquiring an additional 140 shares during the period. Apple comprises approximately 0.9% of Firestone Capital Management’s holdings, making the stock its 25th largest holding. Firestone Capital Management’s holdings in Apple were worth $3,114,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Fidelis Capital Partners LLC increased its holdings in Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares in the last quarter. Access Investment Management LLC acquired a new stake in Apple in the 1st quarter valued at about $140,000. Hoese & Co LLP lifted its position in Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 57 shares during the last quarter. Sage Financial Group Inc. acquired a new stake in Apple during the second quarter worth approximately $206,000. Finally, Benchmark Wealth Management LLC acquired a new stake in Apple during the second quarter worth approximately $208,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and raised their target price for the stock from $205.00 to $212.92 in a report on Monday, October 7th. 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. Loop Capital decreased their price objective on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday. Barclays decreased their price objective on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday. Finally, Evercore ISI reissued a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $235.51.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction 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 sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. 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 417,924 shares of company stock valued at $94,142,399. Company insiders own 0.06% of the company’s stock.

Apple Trading Down 0.4 %

AAPL opened at $222.01 on Tuesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The firm has a market capitalization of $3.38 trillion, a PE ratio of 36.51, a P/E/G ratio of 2.41 and a beta of 1.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The company’s 50-day moving average is $227.07 and its 200 day moving average is $213.03.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 145.09%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.46 EPS. As a group, research analysts predict that Apple Inc. will post 7.48 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s payout ratio is currently 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.