FMB Wealth Management Acquires 500 Shares of Apple Inc. (NASDAQ:AAPL)

FMB Wealth Management increased its holdings in Apple Inc. (NASDAQ:AAPL) by 2.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,291 shares of the iPhone maker’s stock after acquiring an additional 500 shares during the quarter. Apple comprises approximately 2.5% of FMB Wealth Management’s portfolio, making the stock its 11th biggest position. FMB Wealth Management’s holdings in Apple were worth $4,495,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Retirement Solution LLC grew its position in shares of Apple by 165.3% in the 3rd quarter. Retirement Solution LLC now owns 32,845 shares of the iPhone maker’s stock worth $7,653,000 after buying an additional 20,467 shares during the period. Costello Asset Management INC lifted its position in Apple by 8.5% during the 3rd quarter. Costello Asset Management INC now owns 7,939 shares of the iPhone maker’s stock valued at $1,850,000 after acquiring an additional 620 shares during the period. Avid Wealth Partners LLC boosted its stake in Apple by 11.1% during the third quarter. Avid Wealth Partners LLC now owns 3,652 shares of the iPhone maker’s stock worth $851,000 after acquiring an additional 365 shares in the last quarter. Summit Wealth & Retirement Planning Inc. grew its holdings in Apple by 21.8% in the third quarter. Summit Wealth & Retirement Planning Inc. now owns 28,062 shares of the iPhone maker’s stock worth $6,538,000 after purchasing an additional 5,021 shares during the period. Finally, 17 Capital Partners LLC increased its stake in shares of Apple by 10.5% during the third quarter. 17 Capital Partners LLC now owns 8,498 shares of the iPhone maker’s stock valued at $1,980,000 after purchasing an additional 810 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 4,130 shares of the company’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 completion of the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of recent research reports. Citigroup lifted their price objective on Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. UBS Group reiterated a “neutral” rating and issued a $236.00 price target on shares of Apple in a research note on Monday, December 2nd. Barclays increased their price objective on shares of Apple to $184.00 and gave the company a “sell” rating in a research report on Friday, January 10th. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a report on Friday, October 25th. Finally, Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and increased their price target for the company from $205.00 to $212.92 in a report on Monday, October 7th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have given a buy rating and one has given 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 $239.85.

Apple Stock Performance

Shares of AAPL stock opened at $228.26 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 market cap of $3.45 trillion, a PE ratio of 37.54, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. The business has a 50-day simple moving average of $240.93 and a 200-day simple moving average of $230.57.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating 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 company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the previous year, the company posted $1.46 earnings per share. Apple’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The company also recently declared 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

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.