Foundations Investment Advisors LLC Increases Stake in Apple Inc. (NASDAQ:AAPL)

Foundations Investment Advisors LLC has increased its ownership in Apple Inc. (NASDAQ:AAPL) by 6.3% during the fourth quarter, according to a recent filing with the Securities & Exchange Commission. This institutional investor now holds 363,124 shares of Apple, having acquired an additional 21,507 shares during the quarter. As a result, Apple accounts for approximately 1.8% of Foundations Investment Advisors LLC's overall investment portfolio, ranking as its 10th largest holding. The value of this stake in Apple at the close of the last quarter was $90,934,000.

Other institutional investors have also been active in buying and selling shares of Apple. For instance, International Assets Investment Management LLC significantly increased its stake by 20,372.7% in the third quarter, bringing its total to 94,347,510 shares valued at $219,829,700,000 after acquiring 93,886,664 additional shares. State Street Corp also raised its holdings in Apple by 10.6%, now owning 584,010,284 shares worth $136,074,372,000 after purchasing an extra 55,935,105 shares. Similarly, Geode Capital Management LLC boosted its position in Apple by 6.5%, accumulating 333,857,500 shares valued at $77,542,863,000, and FMR LLC increased its stake by 5.3%, holding 363,859,362 shares worth $84,779,231,000. Charles Schwab Investment Management Inc. heightened its investment by 6.6%, reaching ownership of 94,942,731 shares valued at $22,121,656,000. Collectively, institutional investors control 67.73% of Apple’s stock.

Analyst Ratings and Forecasts

Apple's stock has received various ratings from Wall Street analysts. Jefferies Financial Group reiterated an "underperform" rating on Apple, while KeyCorp maintained an "underweight" rating with a price target of $200. Needham & Company LLC reiterated a "buy" rating and set a target price of $260. Monness Crespi & Hardt raised their target price to $245 and also rated the stock as a "buy." Bank of America increased its target price from $253 to $265 and rated Apple as a "buy." Overall, Apple has garnered four sell ratings, ten hold ratings, twenty-one buy ratings, and two strong buy ratings from analysts. MarketBeat reports a consensus rating of "Moderate Buy" for Apple, with an average price target of $243.65.

Current Stock Performance of Apple

As of the latest market update, AAPL opened at $214.10. The company has a debt-to-equity ratio of 1.26, and its current ratio stands at 0.92 with a quick ratio of 0.88. The 50-day simple moving average of Apple shares is $232.19, while the 200-day average is $233.33. With a market capitalization of $3.22 trillion, Apple's PE ratio is 33.98, and its price-to-earnings-growth ratio is 2.44, exhibiting a beta of 1.18. Apple has recorded a 1-year low of $164.08 and a high of $260.10.

Apple’s Recent Earnings and Dividend Declaration

On January 30, Apple announced its latest earnings results, reporting earnings per share (EPS) of $2.40 for the quarter, surpassing the consensus estimate of $2.36 by $0.04. The company has achieved a return on equity of 160.83% and a net margin of 24.30%. Analysts project that Apple will post an EPS of 7.28 for the current fiscal year. Additionally, Apple declared a quarterly dividend, which was distributed on February 13. Stockholders of record on February 10 received a dividend of $0.25 per share, resulting in an annualized dividend of $1.00 and a dividend yield of 0.47%, with a payout ratio of 15.87%.

Overview of Apple Inc.

Apple Inc. is a leading company that designs, manufacturers, and markets a variety of electronic devices and accessories, including smartphones, personal computers, and tablets. Its flagship products include the iPhone, Mac computers, iPad tablets, and a range of wearables such as AirPods and the Apple Watch, along with services like Apple TV and HomePod.

Investment, Stocks, Portfolio