FSM Wealth Advisors LLC Buys 25,922 Shares of Apple Inc. $AAPL

FSM Wealth Advisors LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 56.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,539 shares of the iPhone maker’s stock after purchasing an additional 25,922 shares during the quarter. Apple accounts for about 2.4% of FSM Wealth Advisors LLC’s portfolio, making the stock its 12th biggest position. FSM Wealth Advisors LLC’s holdings in Apple were worth $15,020,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. First National Bank of Hutchinson grew its stake in shares of Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after acquiring an additional 6,982 shares in the last quarter. Eagle Capital Management LLC lifted its position in shares of Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after purchasing an additional 272 shares in the last quarter. Brighton Jones LLC boosted its holdings in Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after purchasing an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC grew its position in Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after purchasing an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE increased its stake in Apple by 2.4% in the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after buying an additional 1,155 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Bank of America boosted their target price on Apple from $270.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. BMO Capital Markets reissued a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. HSBC set a $220.00 target price on Apple and gave the company a “hold” rating in a research report on Monday, September 8th. Argus set a $325.00 price target on shares of Apple and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Robert W. Baird set a $300.00 price target on shares of Apple in a research report on Friday, October 31st. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $278.22.

Apple Stock Up 2.0%

AAPL stock opened at $271.49 on Monday. The stock has a fifty day moving average of $259.49 and a 200-day moving average of $229.36. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $277.32. The company has a market capitalization of $4.01 trillion, a price-to-earnings ratio of 41.20, a PEG ratio of 2.62 and a beta of 1.09. 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 announced its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. The business had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.64 EPS. As a group, equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, November 10th. Apple’s dividend payout ratio is presently 13.92%.

Insider Buying and Selling

In related news, insider Chris Kondo sold 3,752 shares of Apple stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $271.23, for a total value of $1,017,654.96. Following the completion of the transaction, the insider directly owned 15,098 shares in the company, valued at approximately $4,095,030.54. The trade was a 19.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevan Parekh sold 4,199 shares of the business’s stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the sale, the chief financial officer directly owned 8,765 shares in the company, valued at $2,168,373.35. The trade was a 32.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 228,052 shares of company stock worth $58,604,588 in the last 90 days. 0.06% of the stock is currently owned by company 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.