Firethorn Wealth Partners LLC Has $7.32 Million Stock Position in Apple Inc. $AAPL

Firethorn Wealth Partners LLC grew its position in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 11.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,730 shares of the iPhone maker’s stock after purchasing an additional 2,836 shares during the quarter. Apple makes up 2.9% of Firethorn Wealth Partners LLC’s holdings, making the stock its 7th biggest holding. Firethorn Wealth Partners LLC’s holdings in Apple were worth $7,315,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Baker Boyer National Bank raised its stake in shares of Apple by 0.3% during the second quarter. Baker Boyer National Bank now owns 18,011 shares of the iPhone maker’s stock valued at $3,695,000 after acquiring an additional 47 shares during the last quarter. Beddow Capital Management Inc. raised its position in Apple by 1.8% during the 2nd quarter. Beddow Capital Management Inc. now owns 2,597 shares of the iPhone maker’s stock worth $533,000 after purchasing an additional 47 shares during the last quarter. Red Tortoise LLC lifted its holdings in Apple by 0.9% during the 2nd quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock worth $1,173,000 after buying an additional 49 shares during the period. SigFig Wealth Management LLC grew its position in shares of Apple by 2.8% in the 2nd quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock valued at $368,000 after buying an additional 50 shares during the last quarter. Finally, Shariaportfolio Inc. grew its position in shares of Apple by 1.3% in the 2nd quarter. Shariaportfolio Inc. now owns 3,999 shares of the iPhone maker’s stock valued at $820,000 after buying an additional 50 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Trading Down 1.0%

Shares of Apple stock opened at $270.92 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.86 and a current ratio of 0.89. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $288.62. The stock has a 50 day moving average price of $270.62 and a two-hundred day moving average price of $240.31. The stock has a market capitalization of $4.00 trillion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 2.56 and a beta of 1.10.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.11. Apple had a net margin of 26.92% and a return on equity of 164.05%. The business had revenue of $102.47 billion during the quarter, compared to the consensus estimate of $101.65 billion. During the same quarter last year, the firm posted $1.64 EPS. Apple’s revenue was up 8.7% compared to the same quarter last year. As a group, equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were issued a $0.26 dividend. 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 currently 13.92%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AAPL shares. Wedbush set a $350.00 price objective on Apple and gave the stock an “outperform” rating in a research note on Monday, December 8th. JPMorgan Chase & Co. lifted their target price on shares of Apple from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Sanford C. Bernstein set a $325.00 price target on Apple in a report on Monday, November 3rd. Cowen reissued a “buy” rating on shares of Apple in a research note on Monday, October 27th. Finally, Wells Fargo & Company set a $300.00 target price on Apple and gave the stock an “overweight” rating in a report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $283.92.

View Our Latest Stock Analysis on Apple

Insider Buying and Selling at Apple

In other Apple news, CFO Kevan Parekh sold 4,199 shares of Apple stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the completion of the transaction, the chief financial officer owned 8,765 shares in the company, valued at approximately $2,168,373.35. The trade was a 32.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the transaction, the senior vice president owned 179,158 shares in the company, valued at $46,005,982.82. This represents a 20.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 228,052 shares of company stock worth $58,604,588. 0.06% of the stock is currently owned by corporate insiders.

Apple News Summary

Here are the key news stories impacting Apple this week:

About Apple

(Free Report)

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

Further Reading

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLFree Report).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.