4,840 Shares in Apple Inc. (NASDAQ:AAPL) Purchased by Foundation Wealth Management LLC PA

Foundation Wealth Management LLC PA acquired a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,840 shares of the iPhone maker's stock, valued at approximately $1,212,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock valued at $136,074,372,000 after acquiring an additional 55,935,105 shares during the last quarter. Vanguard Group Inc. raised its position in Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after purchasing an additional 49,168,843 shares during the period. Proficio Capital Partners LLC lifted its stake in shares of Apple by 23,555.4% in the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after purchasing an additional 20,966,232 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Apple by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock worth $77,542,863,000 after purchasing an additional 20,483,787 shares during the period. Finally, Strategic Financial Concepts LLC boosted its holdings in shares of Apple by 25,285.2% in the 4th quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock worth $2,411,260,000 after purchasing an additional 9,590,933 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Up 1.6%

Shares of AAPL stock traded up $3.29 during trading hours on Friday, reaching $203.92. 46,447,106 shares of the company's stock were exchanged, compared to its average volume of 56,081,504. The stock has a market cap of $3.05 trillion, a PE ratio of 32.37, a PEG ratio of 2.44 and a beta of 1.22. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock's fifty day moving average price is $201.56 and its two-hundred day moving average price is $224.35. 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 released 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. The company had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. Apple's revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.53 EPS. Research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. Apple's dividend payout ratio is currently 16.20%.

Apple announced that its Board of Directors has approved a share repurchase program on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AAPL shares. Loop Capital decreased their target price on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Monness Crespi & Hardt dropped their target price on shares of Apple from $260.00 to $245.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. DA Davidson lifted their price target on shares of Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Tigress Financial raised their price objective on Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a report on Thursday, April 3rd. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $235.02.

Insider Buying and Selling

In related news, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer now directly owns 4,569 shares of the company's stock, valued at $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the transaction, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. This represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is owned by company insiders.

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.