Fortem Financial Group LLC Has $4.57 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Fortem Financial Group LLC decreased its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 2.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,180 shares of the iPhone maker’s stock after selling 692 shares during the quarter. Apple accounts for approximately 2.0% of Fortem Financial Group LLC’s holdings, making the stock its 4th largest position. Fortem Financial Group LLC’s holdings in Apple were worth $4,571,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Apple in the fourth quarter valued at $25,228,507,000. State Street Corp lifted its holdings in shares of Apple by 1.8% in the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock valued at $112,422,274,000 after buying an additional 10,951,705 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Apple in the fourth quarter valued at $1,461,735,000. Capital Research Global Investors lifted its holdings in shares of Apple by 38.1% in the fourth quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock valued at $5,247,094,000 after buying an additional 8,154,171 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in shares of Apple by 41.8% in the fourth quarter. ProShare Advisors LLC now owns 20,866,567 shares of the iPhone maker’s stock valued at $3,705,275,000 after buying an additional 6,154,422 shares during the period. Institutional investors own 57.98% of the company’s stock.

Insider Activity

In related news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the completion of the sale, the senior vice president now owns 452,334 shares in the company, valued at approximately $73,151,454.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AAPL. The Goldman Sachs Group set a $139.00 price objective on Apple in a report on Friday. Credit Suisse Group set a $166.00 target price on Apple in a report on Friday. Deutsche Bank Aktiengesellschaft set a $175.00 target price on Apple in a report on Monday. Evercore ISI upped their target price on Apple from $180.00 to $185.00 in a report on Friday. Finally, Itau BBA Securities initiated coverage on Apple in a report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $179.04.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $161.51 on Tuesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The firm has a market cap of $2.61 trillion, a price-to-earnings ratio of 26.65, a P/E/G ratio of 2.11 and a beta of 1.23. The business’s 50-day simple moving average is $144.68 and its 200-day simple moving average is $157.12. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The business had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.30 EPS. As a group, equities research analysts expect that Apple Inc. will post 6.08 earnings per share for the current fiscal year.

Apple announced that its Board of Directors has authorized a stock repurchase plan on Thursday, April 28th that allows the company to buyback $90.00 billion in shares. This buyback authorization allows the iPhone maker to reacquire up to 3.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Monday, August 8th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Friday, August 5th. Apple’s dividend payout ratio is 15.18%.

Apple Company Profile

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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