Founders Capital Management LLC Reduces Stake in Apple Inc. (NASDAQ:AAPL)

Founders Capital Management LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 22,501 shares of the iPhone maker’s stock after selling 553 shares during the quarter. Apple makes up about 1.8% of Founders Capital Management LLC’s investment portfolio, making the stock its 18th largest holding. Founders Capital Management LLC’s holdings in Apple were worth $5,108,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Centaurus Financial Inc. lifted its stake in shares of Apple by 17.9% in the 1st quarter. Centaurus Financial Inc. now owns 8,318 shares of the iPhone maker’s stock valued at $44,000 after purchasing an additional 1,262 shares during the period. Semmax Financial Advisors Inc. purchased a new position in shares of Apple in the 4th quarter valued at approximately $50,000. Avondale Wealth Management raised its stake in Apple by 25.4% during the second quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock valued at $63,000 after buying an additional 64 shares during the last quarter. NuWave Investment Management LLC raised its stake in Apple by 2,245.0% during the second quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock valued at $93,000 after buying an additional 449 shares during the last quarter. Finally, Horan Securities Inc. raised its stake in Apple by 64.2% during the second quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock valued at $112,000 after buying an additional 221 shares during the last quarter. Institutional investors and hedge funds own 58.63% of the company’s stock.

Shares of AAPL traded up $2.67 during trading hours on Thursday, hitting $229.70. The stock had a trading volume of 2,272,020 shares, compared to its average volume of 30,272,828. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.50 and a quick ratio of 1.47. Apple Inc. has a 12 month low of $142.00 and a 12 month high of $229.93. The firm has a market capitalization of $1,025.99 billion, a PE ratio of 19.29, a PEG ratio of 2.00 and a beta of 1.24. The stock has a fifty day moving average price of $215.93 and a 200 day moving average price of $202.23.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.10 by $0.08. Apple had a return on equity of 52.13% and a net margin of 21.50%. The company had revenue of $53.81 billion during the quarter, compared to analyst estimates of $53.39 billion. During the same quarter in the previous year, the company posted $2.34 earnings per share. Apple’s revenue was up 1.0% compared to the same quarter last year. As a group, analysts anticipate that Apple Inc. will post 11.68 EPS for the current fiscal year.

In related news, insider Chris Kondo sold 4,376 shares of Apple stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $217.47, for a total value of $951,648.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arthur D. Levinson sold 17,500 shares of Apple stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $214.02, for a total value of $3,745,350.00. Following the completion of the sale, the director now directly owns 1,150,783 shares of the company’s stock, valued at approximately $246,290,577.66. The disclosure for this sale can be found here. Insiders sold 433,749 shares of company stock valued at $91,773,322 in the last ninety days. 0.05% of the stock is currently owned by corporate insiders.

A number of research analysts have issued reports on the company. Jefferies Financial Group upgraded Apple from a “hold” rating to a “buy” rating and lifted their price objective for the company from $210.00 to $260.00 in a research note on Tuesday, September 24th. Goldman Sachs Group set a $165.00 price objective on Apple and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Cowen set a $250.00 price objective on Apple and gave the company a “buy” rating in a research note on Wednesday, August 21st. Rosenblatt Securities set a $150.00 price objective on Apple and gave the company a “sell” rating in a research note on Friday, September 13th. Finally, Cascend Securities lifted their price objective on Apple from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. Apple has a consensus rating of “Buy” and a consensus target price of $222.68.

Apple Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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