Fonville Wealth Management LLC Purchases 1,591 Shares of Apple Inc. (NASDAQ:AAPL)

Fonville Wealth Management LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 7.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,475 shares of the iPhone maker’s stock after buying an additional 1,591 shares during the quarter. Apple makes up 1.9% of Fonville Wealth Management LLC’s holdings, making the stock its 17th largest holding. Fonville Wealth Management LLC’s holdings in Apple were worth $5,470,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. 1620 Investment Advisors Inc. grew its position in Apple by 0.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock worth $2,249,000 after purchasing an additional 45 shares during the last quarter. Carolina Wealth Advisors LLC grew its holdings in shares of Apple by 1.3% during the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after buying an additional 46 shares during the last quarter. Verus Financial Partners Inc. increased 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 valued at $3,566,000 after acquiring an additional 48 shares during the period. Brown Financial Advisory raised its stake in Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after acquiring an additional 50 shares during the last quarter. Finally, Core Wealth Management Inc. lifted its position in Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after acquiring an additional 50 shares during the period. Institutional investors own 67.73% of the company’s stock.

Apple Stock Down 0.2 %

Shares of AAPL opened at $243.36 on Friday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. 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 fifty day simple moving average of $238.68 and a two-hundred day simple moving average of $228.69. The company has a market capitalization of $3.68 trillion, a PE ratio of 40.03, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. Apple’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $1.46 earnings per share. As a group, equities analysts forecast 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 issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Friday, November 8th. 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 business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the 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 transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, 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. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AAPL. Sanford C. Bernstein increased their price objective on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday. JPMorgan Chase & Co. reissued an “overweight” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price objective on shares of Apple in a research note on Friday, December 13th. Wedbush boosted their target price on shares of Apple from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, December 26th. Finally, Jefferies Financial Group downgraded Apple from a “buy” rating to a “hold” rating and increased their price target for the stock from $205.00 to $212.92 in a research report on Monday, October 7th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $238.03.

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.