FMB Wealth Management Buys 2,155 Shares of Apple Inc. $AAPL

FMB Wealth Management lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 12.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,592 shares of the iPhone maker’s stock after acquiring an additional 2,155 shares during the period. Apple makes up 1.9% of FMB Wealth Management’s holdings, making the stock its 17th biggest holding. FMB Wealth Management’s holdings in Apple were worth $4,020,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Ryan Investment Management Inc. bought a new position in shares of Apple during the 2nd quarter valued at approximately $31,000. ROSS JOHNSON & Associates LLC lifted its stake in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 180 shares in the last quarter. Elite Financial Inc. purchased a new stake in shares of Apple during the 1st quarter valued at approximately $58,000. LSV Asset Management purchased a new stake in shares of Apple during the 4th quarter valued at approximately $65,000. Finally, HFM Investment Advisors LLC purchased a new stake in shares of Apple during the 1st quarter valued at approximately $99,000. 67.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Rosenblatt Securities increased their target price on shares of Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. UBS Group reiterated a “neutral” rating on shares of Apple in a research note on Monday, September 8th. Barclays increased their target price on shares of Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research note on Friday, August 1st. Seaport Res Ptn upgraded shares of Apple to a “strong-buy” rating in a research note on Wednesday, October 1st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Apple in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $248.29.

Apple Trading Up 2.0%

Shares of AAPL opened at $252.29 on Friday. The firm’s 50-day moving average price is $241.13 and its 200-day moving average price is $216.81. The firm has a market capitalization of $3.74 trillion, a price-to-earnings ratio of 38.28, a PEG ratio of 2.46 and a beta of 1.09. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.

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

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s payout ratio is presently 15.78%.

Insider Buying and Selling at Apple

In related news, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the sale, the senior vice president directly owned 136,687 shares in the company, valued at approximately $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the transaction, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 259,121 shares of company stock valued at $65,358,981. 0.06% of the stock is owned by corporate insiders.

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.