Apple Inc. (NASDAQ:AAPL) Shares Sold by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 2.3% in the second quarter, HoldingsChannel.com reports. The firm owned 58,801 shares of the iPhone maker’s stock after selling 1,384 shares during the quarter. Apple comprises about 1.8% of Insight Wealth Strategies LLC’s investment portfolio, making the stock its 16th largest holding. Insight Wealth Strategies LLC’s holdings in Apple were worth $12,385,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Apple by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after acquiring an additional 18,067,216 shares during the last quarter. Norges Bank acquired a new stake in shares of Apple during the fourth quarter worth about $33,912,466,000. Wellington Management Group LLP lifted its holdings in shares of Apple by 3.6% in the 4th quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock valued at $11,677,190,000 after purchasing an additional 2,096,360 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Apple by 2.0% in the 4th quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock valued at $10,531,834,000 after purchasing an additional 1,067,587 shares during the period. Finally, Capital International Investors grew its stake in Apple by 7.1% during the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after buying an additional 2,474,887 shares during the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Trading Up 0.1 %

NASDAQ:AAPL opened at $227.18 on Tuesday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The stock has a fifty day simple moving average of $220.53 and a 200-day simple moving average of $194.75. The company has a market capitalization of $3.48 trillion, a PE ratio of 35.33, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 145.35%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 earnings per share. On average, equities research analysts expect that Apple Inc. will post 6.61 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Apple announced that its Board of Directors has initiated a share repurchase program on Thursday, May 2nd that allows the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. StockNews.com raised Apple from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Canaccord Genuity Group upped their price target on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Piper Sandler raised their price objective on shares of Apple from $190.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Tigress Financial upped their target price on shares of Apple from $240.00 to $245.00 and gave the company a “strong-buy” rating in a report on Thursday, May 30th. Finally, Robert W. Baird increased their target price on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $233.63.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Apple news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 188,884 shares of company stock valued at $38,092,387. 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.