Foundation Wealth Management LLC Cuts Position in Apple Inc. (NASDAQ:AAPL)

Foundation Wealth Management LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 8.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,378 shares of the iPhone maker’s stock after selling 1,431 shares during the period. Apple accounts for 2.9% of Foundation Wealth Management LLC’s portfolio, making the stock its 5th largest position. Foundation Wealth Management LLC’s holdings in Apple were worth $3,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of AAPL. Bull Oak Capital LLC grew its position in shares of Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares during the period. Hershey Financial Advisers LLC bought a new stake in Apple during the second quarter worth about $42,000. Christopher J. Hasenberg Inc grew its holdings in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the period. Cordant Inc. increased its stake in shares of Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after purchasing an additional 173 shares in the last quarter. Finally, EMC Capital Management lifted its holdings in shares of Apple by 7.3% during the third quarter. EMC Capital Management now owns 892 shares of the iPhone maker’s stock valued at $201,000 after purchasing an additional 61 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Trading Up 0.7 %

Shares of Apple stock opened at $245.00 on Tuesday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The company’s fifty day simple moving average is $239.15 and its 200-day simple moving average is $229.33. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market capitalization of $3.70 trillion, a PE ratio of 40.30, a P/E/G ratio of 2.41 and a beta of 1.20.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The company 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%. Apple’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.46 earnings per share. As a group, equities analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The sale was disclosed in a 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 directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This 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.

Analyst Ratings Changes

AAPL has been the topic of several recent research reports. KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a research note on Friday, October 25th. Maxim Group increased their target price on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. Rosenblatt Securities increased their price objective on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, New Street Research restated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.03.

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.