Apple Inc. (NASDAQ:AAPL) Stock Holdings Cut by Foundation Wealth Management LLC

Foundation Wealth Management LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,121 shares of the iPhone maker’s stock after selling 722 shares during the quarter. Apple comprises about 3.6% of Foundation Wealth Management LLC’s investment portfolio, making the stock its 5th largest position. Foundation Wealth Management LLC’s holdings in Apple were worth $3,709,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Apple by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after acquiring an additional 8,734,393 shares during the period. Berkshire Hathaway Inc raised its stake in shares of Apple by 2.3% in the first quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock valued at $150,975,907,000 after acquiring an additional 20,424,207 shares during the period. Moneta Group Investment Advisors LLC raised its stake in shares of Apple by 116,483.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock valued at $74,002,245,000 after acquiring an additional 569,066,184 shares during the period. Geode Capital Management LLC raised its stake in shares of Apple by 0.9% in the first quarter. Geode Capital Management LLC now owns 285,171,112 shares of the iPhone maker’s stock valued at $46,918,015,000 after acquiring an additional 2,421,295 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Apple by 3.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 234,017,381 shares of the iPhone maker’s stock valued at $38,589,468,000 after acquiring an additional 7,736,013 shares during the period. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Insider Activity

In other news, CFO Luca Maestri sold 31,685 shares of Apple stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $178.69, for a total transaction of $5,661,792.65. Following the completion of the transaction, the chief financial officer now directly owns 107,661 shares of the company’s stock, valued at approximately $19,237,944.09. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Luca Maestri sold 31,685 shares of Apple stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $178.69, for a total transaction of $5,661,792.65. Following the completion of the transaction, the chief financial officer now directly owns 107,661 shares of the company’s stock, valued at approximately $19,237,944.09. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Deirdre O’brien sold 65,536 shares of Apple stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the completion of the sale, the senior vice president now directly owns 136,445 shares in the company, valued at approximately $23,483,548.95. The disclosure for this sale can be found here. Insiders sold a total of 439,585 shares of company stock valued at $76,485,550 in the last three months. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on AAPL. StockNews.com began coverage on shares of Apple in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Oppenheimer cut their price target on shares of Apple from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, October 30th. Evercore ISI restated an “outperform” rating and issued a $210.00 price target on shares of Apple in a report on Thursday, September 28th. Credit Suisse Group restated an “outperform” rating and issued a $220.00 price target on shares of Apple in a report on Friday, September 15th. Finally, Robert W. Baird upped their price target on shares of Apple from $180.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday, August 1st. Ten analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $197.82.

Apple Stock Performance

AAPL opened at $182.41 on Friday. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $198.23. The company has a current ratio of 0.99, a quick ratio of 0.94 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $2.84 trillion, a PE ratio of 29.81, a P/E/G ratio of 2.51 and a beta of 1.30. The firm has a 50 day moving average of $176.54 and a two-hundred day moving average of $179.80.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.07. Apple had a net margin of 25.31% and a return on equity of 160.78%. The company had revenue of $89.50 billion during the quarter, compared to analyst estimates of $89.34 billion. During the same period last year, the firm posted $1.29 EPS. Apple’s revenue for the quarter was down .7% compared to the same quarter last year. On average, analysts anticipate that Apple Inc. will post 6.54 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 13th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Friday, November 10th. Apple’s dividend payout ratio (DPR) is 15.69%.

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.