Apple Inc. (NASDAQ:AAPL) is Fortis Capital Management LLC's 7th Largest Position

Fortis Capital Management LLC lifted its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 49.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,146 shares of the iPhone maker's stock after purchasing an additional 17,646 shares during the period. Apple accounts for about 2.5% of Fortis Capital Management LLC's investment portfolio, making the stock its 7th biggest position. Fortis Capital Management LLC's holdings in Apple were worth $13,309,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Canopy Partners LLC boosted its position in Apple by 2.1% during the third quarter. Canopy Partners LLC now owns 48,659 shares of the iPhone maker's stock valued at $11,338,000 after purchasing an additional 1,008 shares in the last quarter. CMG Global Holdings LLC boosted its holdings in shares of Apple by 2.9% in the 3rd quarter. CMG Global Holdings LLC now owns 32,811 shares of the iPhone maker's stock valued at $7,645,000 after buying an additional 926 shares in the last quarter. Algert Global LLC boosted its holdings in shares of Apple by 4,035.9% in the 3rd quarter. Algert Global LLC now owns 124,862 shares of the iPhone maker's stock valued at $29,093,000 after buying an additional 121,843 shares in the last quarter. Jim Saulnier & Associates LLC purchased a new position in shares of Apple in the 3rd quarter worth approximately $400,000. Finally, Truepoint Inc. lifted its position in Apple by 16.0% during the third quarter. Truepoint Inc. now owns 17,853 shares of the iPhone maker's stock valued at $4,160,000 after acquiring an additional 2,464 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In related news, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the sale, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. The trade was a 17.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the business's stock in a transaction that occurred on 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock valued at $42,694,080 over the last ninety days. Corporate insiders own 0.06% of the company's stock.

Apple Price Performance

NASDAQ AAPL traded down $0.61 during trading hours on Thursday, reaching $202.21. The company's stock had a trading volume of 8,967,959 shares, compared to its average volume of 55,938,325. The firm has a market capitalization of $3.02 trillion, a price-to-earnings ratio of 32.15, a P/E/G ratio of 2.44 and a beta of 1.27. The company's 50-day moving average is $201.99 and its two-hundred day moving average is $224.54. 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 $169.21 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share 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 the consensus estimate of $94.04 billion. During the same period in the prior year, the company posted $1.53 EPS. The business's quarterly revenue was up 5.1% on a year-over-year basis. On average, equities analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its Board of Directors has authorized a share repurchase plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.51%. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio (DPR) is presently 16.20%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several analyst reports. Scotiabank lowered shares of Apple to a "market perform" rating in a report on Friday, May 2nd. Tigress Financial boosted their target price on Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a research note on Thursday, April 3rd. DA Davidson increased their price target on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Bank of America dropped their price target on Apple from $250.00 to $240.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Needham & Company LLC restated a "hold" rating and set a $225.00 price objective on shares of Apple in a report on Wednesday. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Apple has a consensus rating of "Moderate Buy" and a consensus price target of $235.80.

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.