Foundations Investment Advisors LLC Raises Holdings in Apple Inc. (NASDAQ:AAPL)

Foundations Investment Advisors LLC grew its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 70.7% during the second quarter, HoldingsChannel reports. The fund owned 112,402 shares of the iPhone maker’s stock after purchasing an additional 46,554 shares during the period. Apple accounts for about 0.7% of Foundations Investment Advisors LLC’s investment portfolio, making the stock its 22nd biggest holding. Foundations Investment Advisors LLC’s holdings in Apple were worth $16,065,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Qube Research & Technologies Ltd boosted its position in shares of Apple by 145.8% in the 4th quarter. Qube Research & Technologies Ltd now owns 643,206 shares of the iPhone maker’s stock valued at $114,214,000 after purchasing an additional 381,507 shares during the period. Nicola Wealth Management LTD. boosted its position in shares of Apple by 4.3% in the 4th quarter. Nicola Wealth Management LTD. now owns 72,500 shares of the iPhone maker’s stock valued at $12,874,000 after purchasing an additional 3,000 shares during the period. Pitti Group Wealth Management LLC acquired a new stake in shares of Apple in the 4th quarter valued at about $1,729,000. AlphaCrest Capital Management LLC boosted its position in shares of Apple by 1,295.9% in the 4th quarter. AlphaCrest Capital Management LLC now owns 43,720 shares of the iPhone maker’s stock valued at $7,763,000 after purchasing an additional 40,588 shares during the period. Finally, SBB Research Group LLC acquired a new stake in shares of Apple in the 4th quarter valued at about $2,233,000. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Apple Trading Down 1.1 %

Shares of AAPL opened at $150.70 on Monday. The stock’s 50-day moving average is $159.65 and its two-hundred day moving average is $156.02. The stock has a market cap of $2.42 trillion, a PE ratio of 24.87, a P/E/G ratio of 1.95 and a beta of 1.23. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.30 earnings per share. Equities analysts forecast that Apple Inc. will post 6.11 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio is presently 15.18%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AAPL. Credit Suisse Group set a $201.00 target price on Apple in a research report on Thursday, September 8th. Itau BBA Securities started coverage on Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price objective for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $139.00 price objective on shares of Apple in a research report on Thursday, September 8th. Bank of America decreased their price objective on Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. Finally, Wells Fargo & Company reduced their price target on Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $181.52.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Apple Company Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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