FDx Advisors Inc. Trims Position in Apple Inc. (NASDAQ:AAPL)

FDx Advisors Inc. decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 33.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 10,234 shares of the iPhone maker’s stock after selling 5,114 shares during the period. FDx Advisors Inc.’s holdings in Apple were worth $2,155,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AAPL. Swedbank AB acquired a new stake in shares of Apple during the 1st quarter worth $3,026,492,000. Global Assets Advisory LLC boosted its holdings in Apple by 23,076.4% in the first quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock valued at $1,584,512,000 after acquiring an additional 9,200,345 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in Apple by 158.3% in the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after acquiring an additional 7,067,379 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in Apple by 161.2% in the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after acquiring an additional 5,405,542 shares during the last quarter. Finally, Natixis boosted its holdings in Apple by 127.7% in the first quarter. Natixis now owns 4,632,987 shares of the iPhone maker’s stock valued at $794,465,000 after acquiring an additional 2,598,742 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Stock Up 1.2 %

Shares of Apple stock opened at $235.00 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The firm has a market cap of $3.60 trillion, a P/E ratio of 36.55, a P/E/G ratio of 2.40 and a beta of 1.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The business has a 50-day moving average price of $225.78 and a 200 day moving average price of $208.11.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. Apple’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts forecast that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. Apple’s payout ratio is currently 15.55%.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of research analyst reports. New Street Research reiterated a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. Wedbush reiterated an “outperform” rating and issued a $285.00 target price on shares of Apple in a report on Monday, September 9th. Cfra raised their price objective on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group raised their price objective on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Bank of America reissued a “buy” rating and issued a $256.00 price objective on shares of Apple in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $239.27.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 517,924 shares of company stock worth $114,786,399 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Apple Company 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.