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

Fortis Capital Management LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 86.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 34,736 shares of the iPhone maker’s stock after purchasing an additional 16,143 shares during the period. Apple accounts for approximately 1.6% of Fortis Capital Management LLC’s portfolio, making the stock its 10th largest position. Fortis Capital Management LLC’s holdings in Apple were worth $7,316,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Yeomans Consulting Group Inc. bought a new position in shares of Apple during the 4th quarter worth approximately $1,713,000. Raleigh Capital Management Inc. raised its position in shares of Apple by 11.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock worth $2,986,000 after purchasing an additional 1,643 shares during the period. GLOBALT Investments LLC GA bought a new position in shares of Apple in the 4th quarter worth $38,406,000. Barden Capital Management Inc. lifted its holdings in shares of Apple by 132.8% in the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after purchasing an additional 18,615 shares in the last quarter. Finally, Sunpointe LLC acquired a new stake in Apple in the 4th quarter valued at $4,782,000. 60.41% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock worth $23,723,887 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on AAPL. Rosenblatt Securities reaffirmed a “buy” rating and issued a $261.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Melius Research reiterated a “buy” rating and set a $265.00 price target on shares of Apple in a research note on Tuesday, August 27th. Erste Group Bank raised Apple from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Barclays cut their target price on Apple from $187.00 to $186.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. Finally, Citigroup reissued a “buy” rating and issued a $255.00 price target on shares of Apple in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $239.17.

Apple Stock Performance

NASDAQ AAPL opened at $226.47 on Tuesday. The company’s 50 day moving average is $222.25 and its 200-day moving average is $200.82. The firm has a market cap of $3.47 trillion, a P/E ratio of 35.22, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. The firm had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.26 earnings per share. Sell-side analysts predict that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th 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 Monday, August 12th. Apple’s payout ratio is presently 15.55%.

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.