Insight Wealth Partners LLC Reduces Stake in Apple Inc. (NASDAQ:AAPL)

Insight Wealth Partners LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 4.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 8,950 shares of the iPhone maker’s stock after selling 436 shares during the quarter. Apple comprises 0.3% of Insight Wealth Partners LLC’s investment portfolio, making the stock its 25th biggest holding. Insight Wealth Partners LLC’s holdings in Apple were worth $1,885,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AAPL. Brookstone Capital Management boosted its position in shares of Apple by 4.8% in the 2nd quarter. Brookstone Capital Management now owns 568,444 shares of the iPhone maker’s stock valued at $130,106,000 after purchasing an additional 26,106 shares during the period. Rovin Capital UT ADV boosted its position in shares of Apple by 3.0% in the 2nd quarter. Rovin Capital UT ADV now owns 23,878 shares of the iPhone maker’s stock valued at $5,029,000 after purchasing an additional 690 shares during the period. Stanley Laman Group Ltd. boosted its position in shares of Apple by 5.9% in the 2nd quarter. Stanley Laman Group Ltd. now owns 42,964 shares of the iPhone maker’s stock valued at $9,049,000 after purchasing an additional 2,407 shares during the period. Blue Trust Inc. lifted its position in Apple by 15.2% during the 2nd quarter. Blue Trust Inc. now owns 148,000 shares of the iPhone maker’s stock worth $31,172,000 after acquiring an additional 19,582 shares during the period. Finally, Outlook Wealth Advisors LLC lifted its position in Apple by 5.1% during the 2nd quarter. Outlook Wealth Advisors LLC now owns 24,347 shares of the iPhone maker’s stock worth $5,128,000 after acquiring an additional 1,178 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on AAPL shares. Tigress Financial increased their price objective on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. Evercore ISI reissued an “outperform” rating and issued a $250.00 price target on shares of Apple in a report on Tuesday, August 27th. Oppenheimer reissued an “outperform” rating and issued a $250.00 price target on shares of Apple in a report on Tuesday, September 10th. Finally, StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $239.17.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Apple news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock valued at $23,723,887 in the last three months. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

AAPL opened at $222.50 on Monday. The company has a market capitalization of $3.41 trillion, a price-to-earnings ratio of 34.60, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23. The business has a 50 day moving average price of $223.14 and a two-hundred day moving average price of $198.75.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the prior year, the firm posted $1.26 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Research analysts predict that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio (DPR) is currently 15.55%.

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.