Apple Inc. $AAPL is Founders Financial Alliance LLC's Largest Position

Founders Financial Alliance LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,474 shares of the iPhone maker's stock after selling 1,276 shares during the period. Apple makes up 6.9% of Founders Financial Alliance LLC's investment portfolio, making the stock its largest holding. Founders Financial Alliance LLC's holdings in Apple were worth $28,316,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Truepoint Inc. lifted its holdings in shares of Apple by 36.6% during the first quarter. Truepoint Inc. now owns 24,681 shares of the iPhone maker's stock valued at $5,482,000 after purchasing an additional 6,612 shares during the last quarter. Nicholson Wealth Management Group LLC increased its position in Apple by 3.8% during the 1st quarter. Nicholson Wealth Management Group LLC now owns 10,341 shares of the iPhone maker's stock valued at $2,297,000 after buying an additional 382 shares in the last quarter. Integrity Financial Corp WA raised its stake in Apple by 7.6% during the first quarter. Integrity Financial Corp WA now owns 33,759 shares of the iPhone maker's stock valued at $7,499,000 after buying an additional 2,389 shares during the last quarter. NS Partners Ltd boosted its holdings in Apple by 0.4% in the first quarter. NS Partners Ltd now owns 581,285 shares of the iPhone maker's stock worth $129,121,000 after acquiring an additional 2,495 shares in the last quarter. Finally, Savvy Advisors Inc. boosted its holdings in Apple by 24.9% in the first quarter. Savvy Advisors Inc. now owns 141,322 shares of the iPhone maker's stock worth $31,392,000 after acquiring an additional 28,186 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Apple Stock Performance

Shares of AAPL traded up $3.24 on Thursday, reaching $230.03. The company's stock had a trading volume of 50,112,500 shares, compared to its average volume of 45,309,252. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market capitalization of $3.41 trillion, a P/E ratio of 34.91, a PEG ratio of 2.37 and a beta of 1.11. The stock's 50 day simple moving average is $221.08 and its two-hundred day simple moving average is $212.48. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. During the same period in the prior year, the company earned $1.40 earnings per share. The firm's revenue was up 9.6% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. Apple's dividend payout ratio (DPR) is currently 15.78%.

Insider Buying and Selling

In related news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barclays raised their price target on Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a report on Friday, August 1st. Rosenblatt Securities lifted their target price on shares of Apple from $223.00 to $241.00 and gave the stock a "neutral" rating in a report on Wednesday. Monness Crespi & Hardt upped their target price on shares of Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Citigroup reissued a "buy" rating on shares of Apple in a research report on Wednesday. Finally, Melius Research set a $290.00 price objective on Apple and gave the company a "buy" rating in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $240.80.

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.