Future Financial Wealth Managment LLC Has $2.39 Million Stake in Apple Inc. (NASDAQ:AAPL)

Future Financial Wealth Managment LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,238 shares of the iPhone maker’s stock after selling 112 shares during the quarter. Apple makes up approximately 1.7% of Future Financial Wealth Managment LLC’s holdings, making the stock its 13th largest holding. Future Financial Wealth Managment LLC’s holdings in Apple were worth $2,385,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Apple by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after purchasing an additional 2,785,807 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Apple by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after acquiring an additional 3,245,281 shares during the last quarter. Capital International Investors lifted its stake in shares of Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after acquiring an additional 2,474,887 shares during the period. American Century Companies Inc. boosted its holdings in Apple by 3.2% in the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after acquiring an additional 1,065,759 shares during the last quarter. Finally, Jennison Associates LLC increased its position in Apple by 1.7% in the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock worth $5,061,296,000 after purchasing an additional 485,873 shares during the period. 60.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AAPL. Moffett Nathanson reduced their target price on shares of Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 19th. New Street Research reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. Bank of America reissued a “buy” rating and issued a $256.00 price target on shares of Apple in a research note on Thursday, October 3rd. Melius Research reiterated a “buy” rating and issued a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. Finally, Maxim Group raised their target price on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus target price of $235.25.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock worth $92,007,745 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Up 1.3 %

Apple stock opened at $232.87 on Tuesday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The stock has a market cap of $3.52 trillion, a P/E ratio of 38.30, a P/E/G ratio of 2.25 and a beta of 1.24. The company’s 50-day moving average price is $228.06 and its two-hundred day moving average price is $218.64. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

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, topping the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same period last year, the firm posted $1.46 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is 16.45%.

Apple 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.