Apple Inc. (NASDAQ:AAPL) is Founders Capital Management’s 3rd Largest Position

Founders Capital Management cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 9.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,547 shares of the iPhone maker’s stock after selling 4,292 shares during the period. Apple makes up 5.6% of Founders Capital Management’s holdings, making the stock its 3rd biggest holding. Founders Capital Management’s holdings in Apple were worth $9,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. Kwmg LLC increased its stake in Apple by 0.8% during the third quarter. Kwmg LLC now owns 24,734 shares of the iPhone maker’s stock worth $5,763,000 after purchasing an additional 189 shares during the period. Value Partners Investments Inc. boosted its stake in shares of Apple by 6.8% in the third quarter. Value Partners Investments Inc. now owns 4,294 shares of the iPhone maker’s stock valued at $1,001,000 after purchasing an additional 274 shares during the period. MKT Advisors LLC grew its holdings in shares of Apple by 1.8% in the third quarter. MKT Advisors LLC now owns 12,872 shares of the iPhone maker’s stock valued at $2,919,000 after purchasing an additional 231 shares in the last quarter. Consilio Wealth Advisors LLC increased its stake in Apple by 24.0% during the 3rd quarter. Consilio Wealth Advisors LLC now owns 17,146 shares of the iPhone maker’s stock worth $3,995,000 after buying an additional 3,324 shares during the period. Finally, Diversified Trust Co increased its stake in Apple by 11.6% during the 3rd quarter. Diversified Trust Co now owns 605,036 shares of the iPhone maker’s stock worth $140,974,000 after buying an additional 62,907 shares during the period. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. The trade was a 10.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock valued at $92,007,745 in the last 90 days. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

Shares of AAPL opened at $229.87 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The stock’s 50 day moving average is $227.73 and its two-hundred day moving average is $217.81. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The firm has a market capitalization of $3.47 trillion, a PE ratio of 37.81, a P/E/G ratio of 2.24 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the prior year, the company posted $1.46 earnings per share. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. Research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio is presently 16.45%.

Analysts Set New Price Targets

AAPL has been the subject of several research reports. Jefferies Financial Group downgraded shares of Apple from a “buy” rating to a “hold” rating and boosted their price target for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Moffett Nathanson lowered their target price on Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. 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. Finally, Maxim Group boosted their price objective on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.25.

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.