Fortune Financial Advisors LLC Sells 9,720 Shares of Apple Inc. (NASDAQ:AAPL)

Fortune Financial Advisors LLC decreased its stake in Apple Inc. (NASDAQ:AAPL) by 40.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,301 shares of the iPhone maker’s stock after selling 9,720 shares during the quarter. Apple accounts for about 3.0% of Fortune Financial Advisors LLC’s investment portfolio, making the stock its 4th largest holding. Fortune Financial Advisors LLC’s holdings in Apple were worth $3,332,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of AAPL. International Assets Investment Management LLC raised its position in Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after buying an additional 93,886,664 shares during the period. Strategic Financial Concepts LLC grew its stake in Apple by 14,145.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after acquiring an additional 7,558,826 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in shares of Apple by 22,870.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 5,590,588 shares of the iPhone maker’s stock valued at $1,302,607,000 after purchasing an additional 5,566,250 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of Apple in the second quarter worth approximately $834,368,000. Finally, Ameriprise Financial Inc. lifted its position in shares of Apple by 6.7% in the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after purchasing an additional 3,245,281 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AAPL. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a research note on Friday, October 25th. Barclays reduced their price target on Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, November 1st. JPMorgan Chase & Co. reissued an “overweight” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, September 10th. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, New Street Research reiterated a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $237.47.

Apple Stock Up 0.3 %

Shares of Apple stock opened at $259.02 on Friday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10. The business has a fifty day simple moving average of $237.00 and a 200 day simple moving average of $227.21. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The stock has a market cap of $3.92 trillion, a PE ratio of 42.60, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23.

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

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. Apple’s dividend payout ratio is presently 16.45%.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 508,170 shares of company stock valued at $117,004,745. 0.06% of the stock is owned by corporate insiders.

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.