Apple Inc. (NASDAQ:AAPL) Shares Bought by Fortis Capital Management LLC

Fortis Capital Management LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,500 shares of the iPhone maker’s stock after buying an additional 764 shares during the period. Apple comprises about 1.7% of Fortis Capital Management LLC’s portfolio, making the stock its 9th biggest holding. Fortis Capital Management LLC’s holdings in Apple were worth $8,272,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AAPL. High Net Worth Advisory Group LLC increased its holdings in Apple by 1.7% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after purchasing an additional 1,066 shares in the last quarter. Granite Investment Partners LLC boosted its position in shares of Apple by 2.7% during the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after purchasing an additional 7,606 shares in the last quarter. Truist Financial Corp boosted its position in shares of Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after purchasing an additional 126,210 shares in the last quarter. Sterling Investment Counsel LLC boosted its position in shares of Apple by 3.8% during the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after purchasing an additional 2,565 shares in the last quarter. Finally, Silicon Valley Capital Partners raised its stake in Apple by 12.8% during the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock worth $59,122,000 after buying an additional 28,799 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Price Performance

NASDAQ:AAPL opened at $222.64 on Wednesday. The stock has a fifty day moving average of $241.12 and a 200 day moving average of $230.85. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a market capitalization of $3.35 trillion, a price-to-earnings ratio of 36.62, a P/E/G ratio of 2.25 and a beta of 1.20.

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

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s dividend payout ratio is currently 16.45%.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,130 shares of the firm’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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 sale, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of several analyst reports. Evercore ISI reissued a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Thursday, September 26th. KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a research report on Friday, October 25th. Maxim Group increased their price target on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. UBS Group reaffirmed a “neutral” rating and set a $236.00 price target on shares of Apple in a research report on Monday, December 2nd. Finally, Wells Fargo & Company increased their price target on Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.02.

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.