Apple Inc. (NASDAQ:AAPL) Holdings Cut by Foundation Wealth Management LLC

Foundation Wealth Management LLC decreased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 7.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,085 shares of the iPhone maker's stock after selling 1,293 shares during the period. Apple accounts for about 2.9% of Foundation Wealth Management LLC's holdings, making the stock its 5th biggest holding. Foundation Wealth Management LLC's holdings in Apple were worth $3,777,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Drystone LLC acquired a new stake in Apple during the fourth quarter worth approximately $25,000. SPX Gestao de Recursos Ltda acquired a new stake in Apple during the third quarter worth approximately $71,000. Teachers Insurance & Annuity Association of America acquired a new stake in Apple in the third quarter valued at approximately $77,000. Compass Planning Associates Inc acquired a new stake in Apple in the fourth quarter valued at approximately $96,000. Finally, Collier Financial acquired a new stake in Apple in the fourth quarter valued at approximately $140,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider now owns 15,533 shares of the company's stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the sale, the chief executive officer now directly owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock valued at $42,694,080 over the last 90 days. Insiders own 0.06% of the company's stock.

Apple Price Performance

Apple stock traded down $0.19 during midday trading on Friday, hitting $211.26. 53,614,750 shares of the company's stock were exchanged, compared to its average volume of 55,997,127. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The stock has a 50-day moving average price of $206.09 and a two-hundred day moving average price of $226.66. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The company has a market cap of $3.16 trillion, a P/E ratio of 33.53, a PEG ratio of 2.44 and a beta of 1.27.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The business had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same period in the previous year, the business earned $1.53 earnings per share. The firm's revenue was up 5.1% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple announced that its board has authorized a share repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.49%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is 16.20%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AAPL shares. Argus raised Apple to a "strong-buy" rating in a research note on Friday, January 31st. Evercore ISI raised their price objective on Apple from $260.00 to $275.00 and gave the company an "outperform" rating in a research note on Tuesday, March 18th. Tigress Financial raised their price objective on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research note on Thursday, April 3rd. Maxim Group raised their price objective on Apple to $215.00 and gave the company a "hold" rating in a research note on Friday, February 21st. Finally, Scotiabank cut Apple to a "market perform" rating in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $235.80.

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.