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

Insight Wealth Strategies LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 34.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,991 shares of the iPhone maker’s stock after selling 19,963 shares during the quarter. Apple comprises about 1.3% of Insight Wealth Strategies LLC’s portfolio, making the stock its 21st largest position. Insight Wealth Strategies LLC’s holdings in Apple were worth $9,514,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AAPL. Nottingham Advisors Inc. lifted its holdings in Apple by 23.8% during the 2nd quarter. Nottingham Advisors Inc. now owns 22,070 shares of the iPhone maker’s stock valued at $4,648,000 after buying an additional 4,237 shares in the last quarter. Hohimer Wealth Management LLC increased its position in shares of Apple by 6.1% during the second quarter. Hohimer Wealth Management LLC now owns 39,126 shares of the iPhone maker’s stock worth $8,241,000 after acquiring an additional 2,254 shares during the period. SouthState Corp raised its stake in shares of Apple by 1.2% during the second quarter. SouthState Corp now owns 295,296 shares of the iPhone maker’s stock valued at $62,195,000 after acquiring an additional 3,645 shares in the last quarter. First Business Financial Services Inc. boosted its holdings in shares of Apple by 1.6% in the second quarter. First Business Financial Services Inc. now owns 52,686 shares of the iPhone maker’s stock valued at $11,097,000 after purchasing an additional 834 shares during the period. Finally, Bordeaux Wealth Advisors LLC grew its stake in Apple by 8.9% in the second quarter. Bordeaux Wealth Advisors LLC now owns 168,676 shares of the iPhone maker’s stock worth $35,527,000 after purchasing an additional 13,807 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Moffett Nathanson reaffirmed a “sell” rating and set a $188.00 target price (down from $202.00) on shares of Apple in a research report on Tuesday, January 7th. TD Cowen reiterated a “buy” rating on shares of Apple in a report on Tuesday, January 28th. The Goldman Sachs Group boosted their price target on shares of Apple from $280.00 to $294.00 and gave the company a “buy” rating in a report on Friday, January 31st. Sanford C. Bernstein increased their price objective on shares of Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Oppenheimer lowered Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $242.52.

Apple Trading Up 1.3 %

Shares of Apple stock opened at $244.60 on Tuesday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The stock has a market cap of $3.67 trillion, a PE ratio of 38.83, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. The firm has a fifty day moving average price of $240.70 and a 200 day moving average price of $231.75.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.41%. Apple’s payout ratio is currently 15.87%.

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.