Fonville Wealth Management LLC Has $5.89 Million Stock Holdings in Apple Inc. $AAPL

Fonville Wealth Management LLC lifted its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 18.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,223 shares of the iPhone maker's stock after acquiring an additional 4,332 shares during the period. Apple makes up approximately 1.7% of Fonville Wealth Management LLC's holdings, making the stock its 21st biggest holding. Fonville Wealth Management LLC's holdings in Apple were worth $5,894,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Tallon Kerry Patrick bought a new position in Apple in the fourth quarter valued at approximately $1,877,000. First National Bank of Hutchinson lifted its stake in Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after buying an additional 6,982 shares in the last quarter. Eagle Capital Management LLC lifted its stake in Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after buying an additional 272 shares in the last quarter. Brighton Jones LLC lifted its stake in Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after buying an additional 69,207 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in Apple in the fourth quarter valued at approximately $158,067,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AAPL has been the topic of a number of research reports. Monness Crespi & Hardt lifted their price target on shares of Apple from $245.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, August 1st. DA Davidson reiterated a "buy" rating and issued a $250.00 price objective on shares of Apple in a report on Friday, August 1st. Scotiabank downgraded shares of Apple to a "market perform" rating in a report on Friday, May 2nd. BMO Capital Markets reiterated a "buy" rating on shares of Apple in a report on Wednesday, August 13th. Finally, Barclays lifted their price objective on shares of Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $237.37.

Insider Activity at Apple

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares in the company, valued at $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 available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

NASDAQ:AAPL opened at $232.56 on Friday. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a market cap of $3.45 trillion, a P/E ratio of 35.29, a P/E/G ratio of 2.41 and a beta of 1.16. The firm's fifty day moving average price is $215.17 and its two-hundred day moving average price is $213.08. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

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

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's payout ratio is currently 15.78%.

Apple declared that its board has approved a stock buyback plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

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.

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