Fortitude Family Office LLC Buys 7,883 Shares of Apple Inc. (NASDAQ:AAPL)

Fortitude Family Office LLC boosted its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 149,117 shares of the iPhone maker's stock after acquiring an additional 7,883 shares during the period. Apple accounts for 13.8% of Fortitude Family Office LLC's portfolio, making the stock its largest position. Fortitude Family Office LLC's holdings in Apple were worth $34,744,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bull Oak Capital LLC boosted its position in shares of Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock worth $36,000 after purchasing an additional 111 shares during the last quarter. Hershey Financial Advisers LLC bought a new stake in shares of Apple in the 2nd quarter valued at about $42,000. Christopher J. Hasenberg Inc raised its position in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker's stock valued at $69,000 after acquiring an additional 144 shares during the period. Cordant Inc. boosted its stake in Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker's stock worth $158,000 after acquiring an additional 173 shares during the last quarter. Finally, Sage Financial Group Inc. acquired a new position in Apple during the second quarter valued at approximately $206,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company's stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the business's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the sale, the senior vice president now directly owns 187,043 shares of the company's stock, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 508,170 shares of company stock worth $117,004,745 over the last three months. Insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

AAPL has been the topic of a number of recent analyst reports. StockNews.com cut shares of Apple from a "buy" rating to a "hold" rating in a research report on Friday, November 1st. Barclays decreased their target price on Apple from $186.00 to $184.00 and set an "underweight" rating for the company in a research note on Friday, November 1st. Piper Sandler reaffirmed a "neutral" rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, October 9th. Morgan Stanley reiterated an "overweight" rating and issued a $273.00 price objective on shares of Apple in a research report on Friday, December 13th. Finally, Jefferies Financial Group downgraded shares of Apple from a "buy" rating to a "hold" rating and raised their target price for the stock from $205.00 to $212.92 in a report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $237.47.

Apple Stock Performance

Shares of AAPL traded down $3.39 during mid-day trading on Monday, reaching $252.20. The company's stock had a trading volume of 35,435,137 shares, compared to its average volume of 57,203,777. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The business has a 50-day simple moving average of $237.41 and a two-hundred day simple moving average of $227.89. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The stock has a market cap of $3.81 trillion, a P/E ratio of 41.48, a PEG ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analysts' expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.46 earnings per share. As a group, equities research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.40%. Apple's dividend payout ratio is currently 16.45%.

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.