Folger Nolan Fleming Douglas Capital Management Inc. Sells 2,430 Shares of Apple Inc. $AAPL

Folger Nolan Fleming Douglas Capital Management Inc. decreased its position in Apple Inc. (NASDAQ:AAPL) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,112 shares of the iPhone maker’s stock after selling 2,430 shares during the quarter. Apple accounts for about 3.4% of Folger Nolan Fleming Douglas Capital Management Inc.’s investment portfolio, making the stock its 5th largest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Apple were worth $30,388,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AAPL. First National Bank of Hutchinson grew its stake in shares of Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after acquiring an additional 6,982 shares in the last quarter. Eagle Capital Management LLC lifted its stake in shares of Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after acquiring an additional 272 shares in the last quarter. Brighton Jones LLC boosted its holdings in Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after purchasing an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after purchasing an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE increased its holdings in Apple by 2.4% during the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after purchasing an additional 1,155 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Trading Down 0.1%

NASDAQ AAPL opened at $269.77 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a one year low of $169.21 and a one year high of $277.32. The company has a 50-day simple moving average of $251.53 and a 200-day simple moving average of $224.02. The firm has a market capitalization of $4.00 trillion, a PE ratio of 40.94, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. During the same quarter last year, the company posted $1.64 earnings per share. Apple’s revenue was up 8.7% on a year-over-year basis. On average, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Monday, November 10th will be given a dividend of $0.26 per share. The ex-dividend date is Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s payout ratio is currently 13.92%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AAPL. Seaport Res Ptn upgraded Apple to a “strong-buy” rating in a research note on Wednesday, October 1st. Wedbush reaffirmed an “outperform” rating on shares of Apple in a report on Tuesday, October 21st. Raymond James Financial reissued an “outperform” rating and set a $240.00 price objective (up from $230.00) on shares of Apple in a report on Friday, August 1st. Melius upped their target price on shares of Apple from $290.00 to $345.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Cowen reaffirmed a “buy” rating on shares of Apple in a research report on Monday, October 27th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $278.22.

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 43,013 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This trade represents a 23.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president owned 179,158 shares in the company, valued at $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 224,300 shares of company stock valued at $57,586,933 in the last 90 days. Corporate 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.