Fortis Capital Advisors LLC Has $17.34 Million Stake in Apple Inc. $AAPL

Key Points

• Fortis Capital Advisors LLC increased its stake in Apple Inc. by 4.1%, now holding 78,070 shares valued at approximately $17.34 million.
• Apple's latest earnings report showed $1.57 EPS for the quarter, exceeding estimates, with revenue of $94.04 billion, a 9.6% year-over-year increase.
• The company recently declared a dividend of $0.26 per share, resulting in an annualized yield of 0.4% and a payout ratio of 15.78%.

Fortis Capital Advisors LLC increased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,070 shares of the iPhone maker's stock after acquiring an additional 3,052 shares during the period. Apple comprises about 3.5% of Fortis Capital Advisors LLC's holdings, making the stock its 8th largest holding. Fortis Capital Advisors LLC's holdings in Apple were worth $17,342,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. ROSS JOHNSON & Associates LLC raised its position in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after acquiring an additional 180 shares in the last quarter. Conquis Financial LLC bought a new position in shares of Apple in the 4th quarter worth approximately $63,000. LSV Asset Management bought a new position in shares of Apple in the 4th quarter worth approximately $65,000. Elite Financial Inc. bought a new position in shares of Apple in the 1st quarter worth approximately $58,000. Finally, Pillar Financial Advisors LLC bought a new position in shares of Apple in the 4th quarter worth approximately $82,000. Institutional investors own 67.73% of the company's stock.

Apple Stock Performance

Shares of AAPL opened at $234.07 on Friday. The business's fifty day simple moving average is $221.50 and its two-hundred day simple moving average is $212.20. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a market cap of $3.47 trillion, a price-to-earnings ratio of 35.52, a P/E/G ratio of 2.39 and a beta of 1.11.

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

Apple Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AAPL shares. Jefferies Financial Group increased their target price on Apple from $190.67 to $205.82 and gave the stock a "hold" rating in a research report on Monday, September 8th. Citigroup restated a "buy" rating on shares of Apple in a research note on Wednesday. Rosenblatt Securities upped their price target on Apple from $223.00 to $241.00 and gave the stock a "neutral" rating in a research note on Wednesday. UBS Group restated a "neutral" rating on shares of Apple in a research note on Monday, September 8th. Finally, Phillip Securities downgraded Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 price target on the stock. in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $240.80.

Insider Buying and Selling

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the sale, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by 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.

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