FSA Wealth Management LLC Acquires Shares of 20,655 Apple Inc. (NASDAQ:AAPL)

FSA Wealth Management LLC purchased a new stake in Apple Inc. (NASDAQ:AAPL) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 20,655 shares of the iPhone maker’s stock, valued at approximately $4,813,000. Apple makes up approximately 1.9% of FSA Wealth Management LLC’s investment portfolio, making the stock its 10th largest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Heritage Family Offices LLP acquired a new position in Apple during the 2nd quarter valued at about $3,331,000. Sterling Financial Planning Inc. boosted its holdings in Apple by 0.6% during the second quarter. Sterling Financial Planning Inc. now owns 15,304 shares of the iPhone maker’s stock worth $3,223,000 after purchasing an additional 94 shares during the last quarter. Fonville Wealth Management LLC grew its position in Apple by 12.0% in the 2nd quarter. Fonville Wealth Management LLC now owns 21,884 shares of the iPhone maker’s stock worth $4,609,000 after purchasing an additional 2,339 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in Apple by 1.3% in the 2nd quarter. Pinnacle Associates Ltd. now owns 1,342,531 shares of the iPhone maker’s stock valued at $282,764,000 after buying an additional 17,842 shares during the last quarter. Finally, Foster Group Inc. lifted its position in shares of Apple by 1.7% during the 2nd quarter. Foster Group Inc. now owns 147,028 shares of the iPhone maker’s stock worth $30,967,000 after buying an additional 2,472 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Trading Down 2.4 %

Shares of AAPL opened at $227.63 on Friday. The firm has a market cap of $3.42 trillion, a P/E ratio of 36.13, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The company has a 50 day simple moving average of $241.45 and a two-hundred day simple moving average of $230.97.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, equities analysts expect that Apple Inc. will post 7.33 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 13th. Stockholders of record on Monday, February 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio is currently 15.87%.

Analyst Ratings Changes

A number of brokerages recently commented on AAPL. Morgan Stanley lifted their price target on Apple from $273.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Raymond James lifted their target price on Apple to $250.00 and gave the stock a “buy” rating in a research note on Monday, January 20th. Barclays raised their price objective on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. UBS Group reiterated a “neutral” rating and issued a $236.00 target price on shares of Apple in a research note on Monday, December 2nd. Finally, Oppenheimer cut shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $242.52.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 4,130 shares of Apple 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 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

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.