FCG Investment Co Increases Stock Holdings in Apple Inc. (NASDAQ:AAPL)

FCG Investment Co grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 5.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,707 shares of the iPhone maker’s stock after purchasing an additional 2,554 shares during the quarter. Apple comprises approximately 7.9% of FCG Investment Co’s portfolio, making the stock its 2nd biggest holding. FCG Investment Co’s holdings in Apple were worth $12,048,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Bull Oak Capital LLC raised its stake in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the period. Hershey Financial Advisers LLC purchased a new position in Apple during the 2nd quarter valued at about $42,000. Christopher J. Hasenberg Inc increased its position in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares during the period. Cordant Inc. boosted its position in shares of Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after acquiring an additional 173 shares during the period. Finally, Sage Financial Group Inc. purchased a new position in Apple during the second quarter valued at approximately $206,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Trading Down 1.3 %

NASDAQ AAPL opened at $255.59 on Friday. The stock has a market cap of $3.86 trillion, a P/E ratio of 42.04, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The stock has a 50 day simple moving average of $237.41 and a two-hundred day simple moving average of $227.65. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

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

Apple Announces Dividend

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

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The shares were 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 of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 508,170 shares of company stock valued at $117,004,745 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several analyst reports. New Street Research reissued a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. UBS Group restated a “neutral” rating and issued a $236.00 target price on shares of Apple in a research note on Monday, December 2nd. Oppenheimer reiterated a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Tuesday, October 1st. Wedbush raised their target price on shares of Apple from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Loop Capital dropped their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $237.47.

About Apple

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.