Foundry Financial Group Inc. Buys 411 Shares of Apple Inc. $AAPL

Foundry Financial Group Inc. boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 13.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,424 shares of the iPhone maker’s stock after purchasing an additional 411 shares during the quarter. Foundry Financial Group Inc.’s holdings in Apple were worth $761,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Life Planning Partners Inc purchased a new position in Apple during the fourth quarter valued at $47,000. Elite Financial Inc. purchased a new stake in Apple in the 1st quarter worth $58,000. Conquis Financial LLC bought a new position in shares of Apple during the 4th quarter valued at about $63,000. LSV Asset Management purchased a new position in shares of Apple during the fourth quarter valued at about $65,000. Finally, Pillar Financial Advisors LLC purchased a new position in shares of Apple during the fourth quarter valued at about $82,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

NASDAQ:AAPL opened at $232.14 on Tuesday. The firm has a market capitalization of $3.45 trillion, a PE ratio of 35.23, a PEG ratio of 2.42 and a beta of 1.11. The stock’s fifty day moving average is $216.40 and its 200 day moving average is $212.63. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.40 earnings per share. On average, sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid 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 presently 15.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Loop Capital decreased their target price on Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a research report on Thursday, August 21st. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research note on Friday, July 25th. Jefferies Financial Group upgraded Apple from an “underperform” rating to a “hold” rating in a research report on Friday, July 18th. JPMorgan Chase & Co. increased their target price on Apple from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, Citigroup increased their target price on Apple from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $237.37.

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is owned by 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.