Insight Wealth Strategies LLC Trims Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Insight Wealth Strategies LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,954 shares of the iPhone maker’s stock after selling 847 shares during the period. Apple makes up about 1.8% of Insight Wealth Strategies LLC’s investment portfolio, making the stock its 14th largest holding. Insight Wealth Strategies LLC’s holdings in Apple were worth $13,503,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of AAPL. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Apple by 127.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock valued at $12,943,000 after acquiring an additional 42,282 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Apple by 0.4% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 506,642 shares of the iPhone maker’s stock worth $86,879,000 after buying an additional 1,936 shares during the period. Tobam lifted its holdings in Apple by 3.9% in the 1st quarter. Tobam now owns 21,459 shares of the iPhone maker’s stock worth $3,680,000 after purchasing an additional 810 shares in the last quarter. BNP Paribas purchased a new stake in Apple in the 1st quarter worth $88,000,000. Finally, Alliance Wealth Management Group raised its holdings in shares of Apple by 2.6% during the 1st quarter. Alliance Wealth Management Group now owns 30,094 shares of the iPhone maker’s stock worth $5,160,000 after acquiring an additional 755 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Up 0.6 %

Shares of AAPL opened at $229.87 on Monday. The stock has a fifty day simple moving average of $227.73 and a two-hundred day simple moving average of $218.30. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $3.47 trillion, a PE ratio of 37.81, a price-to-earnings-growth ratio of 2.24 and a beta of 1.24. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the prior year, the company posted $1.46 earnings per share. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors 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 dividend on an annualized basis and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Activity at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now owns 489,944 shares in the company, valued at approximately $111,148,695.84. This trade represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock valued at $92,007,745 over the last 90 days. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AAPL has been the topic of several analyst reports. Tigress Financial boosted their target price on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Piper Sandler reissued a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, October 9th. Melius Research reaffirmed a “buy” rating and set a $265.00 target price on shares of Apple in a research report on Tuesday, August 27th. Rosenblatt Securities raised their target price on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Morgan Stanley restated an “overweight” rating and set a $273.00 target price on shares of Apple in a research report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $235.25.

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.