Foster & Motley Inc. Boosts Position in Apple Inc. $AAPL

Foster & Motley Inc. boosted its stake in Apple Inc. (NASDAQ:AAPL) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 250,899 shares of the iPhone maker’s stock after purchasing an additional 5,410 shares during the period. Apple comprises 3.0% of Foster & Motley Inc.’s investment portfolio, making the stock its 5th largest position. Foster & Motley Inc.’s holdings in Apple were worth $51,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Ryan Investment Management Inc. purchased a new stake in Apple during the 2nd quarter valued at $31,000. ROSS JOHNSON & Associates LLC increased its position in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares during the period. Nexus Investment Management ULC raised its stake in shares of Apple by 333.3% during the second quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock valued at $53,000 after acquiring an additional 200 shares during the last quarter. Elite Financial Inc. purchased a new stake in shares of Apple during the first quarter worth about $58,000. Finally, LSV Asset Management bought a new stake in shares of Apple in the fourth quarter worth about $65,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $272.41 on Friday. The company’s fifty day moving average price is $255.92 and its 200-day moving average price is $226.95. The stock has a market cap of $4.03 trillion, a PE ratio of 41.34, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $277.32.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results 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. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. During the same period last year, the company posted $1.64 EPS. Apple’s revenue was up 8.7% on a year-over-year basis. On average, equities analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were given 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 of this dividend was Monday, November 10th. Apple’s payout ratio is currently 13.92%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Raymond James Financial reaffirmed an “outperform” rating and set a $240.00 price target (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. UBS Group upped their target price on Apple from $220.00 to $280.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Cowen reiterated a “buy” rating on shares of Apple in a report on Monday, October 27th. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research report on Friday, July 25th. Finally, Wells Fargo & Company set a $300.00 target price on shares of Apple and gave the stock an “overweight” rating in a research report on Friday, October 31st. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $278.22.

Insider Transactions at Apple

In related news, CFO Kevan Parekh sold 4,199 shares of the company’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $247.39, for a total value of $1,038,790.61. Following the sale, the chief financial officer owned 8,765 shares in the company, valued at $2,168,373.35. This represents a 32.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 transaction, the senior vice president directly owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 228,052 shares of company stock worth $58,604,588. Company insiders own 0.06% of the company’s stock.

Apple Profile

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.