FSB Premier Wealth Management Inc. Has $3.16 Million Holdings in Apple Inc. (NASDAQ:AAPL)

FSB Premier Wealth Management Inc. lessened its position in Apple Inc. (NASDAQ:AAPL) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,612 shares of the iPhone maker’s stock after selling 76 shares during the quarter. Apple comprises about 1.3% of FSB Premier Wealth Management Inc.’s investment portfolio, making the stock its 18th biggest position. FSB Premier Wealth Management Inc.’s holdings in Apple were worth $3,158,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AAPL. Drystone LLC acquired a new position in Apple in the 4th quarter valued at approximately $25,000. Life Planning Partners Inc bought a new stake in shares of Apple in the 4th quarter worth about $47,000. SPX Gestao de Recursos Ltda acquired a new stake in shares of Apple during the third quarter worth approximately $71,000. Pillar Financial Advisors LLC acquired a new stake in Apple during the 4th quarter valued at $82,000. Finally, Compass Planning Associates Inc acquired a new stake in shares of Apple in the fourth quarter valued at $96,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Performance

AAPL opened at $203.92 on Monday. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The company has a market capitalization of $3.05 trillion, a PE ratio of 32.37, a price-to-earnings-growth ratio of 2.44 and a beta of 1.22. The business has a fifty day simple moving average of $201.17 and a 200 day simple moving average of $224.12.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) 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 company had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same period in the prior year, the firm posted $1.53 EPS. Apple’s quarterly revenue was up 5.1% on a year-over-year basis. Research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its board has initiated a share buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a $0.26 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.51%. Apple’s dividend payout ratio (DPR) is presently 16.20%.

Insider Activity

In other news, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the transaction, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. The trade was a 3.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 38,822 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the sale, the senior vice president now directly owns 179,158 shares of the company’s stock, valued at approximately $40,072,269.86. The trade was a 17.81% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,507 shares of company stock worth $42,694,080. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AAPL shares. JPMorgan Chase & Co. reduced their price objective on Apple from $270.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a research note on Wednesday, May 21st. Needham & Company LLC reaffirmed a “hold” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, June 4th. KeyCorp raised shares of Apple from an “underweight” rating to a “sector weight” rating in a research report on Monday, April 14th. Finally, Loop Capital decreased their price target on shares of Apple from $230.00 to $215.00 and set a “hold” rating for the company in a research note on Wednesday, April 30th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $235.02.

About Apple

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.