FSB Premier Wealth Management Inc. Sells 71 Shares of Apple Inc. (NASDAQ:AAPL)

FSB Premier Wealth Management Inc. lowered its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 13,893 shares of the iPhone maker’s stock after selling 71 shares during the period. Apple makes up about 1.1% of FSB Premier Wealth Management Inc.’s portfolio, making the stock its 24th largest position. FSB Premier Wealth Management Inc.’s holdings in Apple were worth $1,920,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Wealthspire Advisors LLC increased its holdings in Apple by 42.8% during the 2nd quarter. Wealthspire Advisors LLC now owns 299,829 shares of the iPhone maker’s stock worth $40,993,000 after purchasing an additional 89,865 shares in the last quarter. Eagle Bay Advisors LLC boosted its stake in shares of Apple by 35.7% during the 2nd quarter. Eagle Bay Advisors LLC now owns 25,608 shares of the iPhone maker’s stock worth $3,501,000 after buying an additional 6,735 shares during the last quarter. Callan Capital LLC boosted its stake in shares of Apple by 1.6% during the 2nd quarter. Callan Capital LLC now owns 85,226 shares of the iPhone maker’s stock worth $11,652,000 after buying an additional 1,322 shares during the last quarter. Bennett Selby Investments LP boosted its stake in shares of Apple by 0.3% during the 3rd quarter. Bennett Selby Investments LP now owns 151,793 shares of the iPhone maker’s stock worth $20,978,000 after buying an additional 450 shares during the last quarter. Finally, Blueshift Asset Management LLC acquired a new position in shares of Apple during the 3rd quarter worth about $563,000. Institutional investors own 57.60% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $155.85 on Friday. The company’s 50 day simple moving average is $146.13 and its 200 day simple moving average is $145.45. The stock has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 1.99 and a beta of 1.30. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.94 and a quick ratio of 0.89. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $179.61.

Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.05). The firm had revenue of $117.15 billion during the quarter, compared to the consensus estimate of $121.67 billion. Apple had a net margin of 24.56% and a return on equity of 163.45%. The business’s revenue was down 5.5% compared to the same quarter last year. During the same period last year, the business earned $2.10 earnings per share. As a group, research analysts predict that Apple Inc. will post 6.04 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 13th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Friday, February 10th. This is a positive change from Apple’s previous quarterly dividend of $0.17. Apple’s payout ratio is 15.62%.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of recent research reports. Piper Sandler restated an “overweight” rating and set a $195.00 price objective on shares of Apple in a research note on Friday, February 3rd. BNP Paribas downgraded shares of Apple from an “outperform” rating to a “neutral” rating and set a $140.00 price objective for the company. in a research note on Tuesday, January 3rd. Barclays raised their target price on shares of Apple from $133.00 to $145.00 and gave the company an “equal weight” rating in a research note on Friday, February 3rd. The Goldman Sachs Group began coverage on shares of Apple in a research note on Sunday, March 5th. They issued a “buy” rating and a $199.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft set a $160.00 target price on shares of Apple in a research note on Friday, February 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.24.

Apple Company Profile

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Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.