FSA Advisors Inc. Has $1.68 Million Position in Apple Inc. (NASDAQ:AAPL)

FSA Advisors Inc. lowered its stake in Apple Inc. (NASDAQ:AAPL) by 2.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,698 shares of the iPhone maker’s stock after selling 207 shares during the quarter. Apple makes up 1.7% of FSA Advisors Inc.’s investment portfolio, making the stock its 9th largest holding. FSA Advisors Inc.’s holdings in Apple were worth $1,684,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. Carolina Wealth Advisors LLC grew its position in Apple by 1.3% during the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after buying an additional 46 shares in the last quarter. Verus Financial Partners Inc. lifted its position in shares of Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after acquiring an additional 48 shares during the period. Brown Financial Advisory grew its holdings in shares of Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after purchasing an additional 50 shares in the last quarter. Core Wealth Management Inc. increased its position in shares of Apple by 1.7% during the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after purchasing an additional 50 shares during the period. Finally, Lowery Thomas LLC raised its stake in shares of Apple by 0.7% in the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after purchasing an additional 50 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Down 1.3 %

AAPL opened at $255.59 on Friday. The firm has a 50 day simple moving average of $237.41 and a 200 day simple moving average of $227.65. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The company has a market cap of $3.86 trillion, a price-to-earnings ratio of 42.04, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the previous year, the company posted $1.46 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, sell-side analysts anticipate 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. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.39%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value 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 approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 508,170 shares of company stock worth $117,004,745 in the last ninety days. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AAPL. Loop Capital decreased their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Morgan Stanley reiterated an “overweight” rating and set a $273.00 target price on shares of Apple in a research report on Friday, December 13th. Rosenblatt Securities increased their price target on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Jefferies Financial Group downgraded Apple from a “buy” rating to a “hold” rating and lifted their price objective for the company from $205.00 to $212.92 in a report on Monday, October 7th. Finally, StockNews.com cut Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Two 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 given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $237.47.

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.