Apple Inc. (NASDAQ:AAPL) Position Decreased by Fortune Financial Advisors LLC

Fortune Financial Advisors LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,122 shares of the iPhone maker’s stock after selling 179 shares during the period. Apple makes up about 3.2% of Fortune Financial Advisors LLC’s portfolio, making the stock its 5th biggest holding. Fortune Financial Advisors LLC’s holdings in Apple were worth $3,536,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after acquiring an additional 93,886,664 shares in the last quarter. State Street Corp boosted its position in Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after purchasing an additional 20,483,787 shares during the period. FMR LLC increased its holdings in shares of Apple by 5.3% during the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after purchasing an additional 18,224,005 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Apple by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock valued at $22,121,656,000 after purchasing an additional 5,893,741 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research report on Wednesday, February 19th. JPMorgan Chase & Co. upped their price target on Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Monness Crespi & Hardt increased their price target on Apple to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Jefferies Financial Group restated an “underperform” rating on shares of Apple in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company increased their target price on Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $243.65.

Apple Trading Down 1.0 %

AAPL stock opened at $221.53 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The firm has a market cap of $3.33 trillion, a P/E ratio of 35.16, a P/E/G ratio of 2.44 and a beta of 1.18. Apple Inc. has a 1-year low of $164.08 and a 1-year high of $260.10. The business’s 50 day moving average is $231.03 and its 200-day moving average is $233.35.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio is 15.87%.

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.