Apple Inc. (NASDAQ:AAPL) Stake Increased by Fingerlakes Wealth Management Inc.

Fingerlakes Wealth Management Inc. increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 35,783 shares of the iPhone maker’s stock after purchasing an additional 62 shares during the period. Apple accounts for 6.8% of Fingerlakes Wealth Management Inc.’s investment portfolio, making the stock its largest position. Fingerlakes Wealth Management Inc.’s holdings in Apple were worth $7,537,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in AAPL. Fidelis Capital Partners LLC increased its stake in Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after acquiring an additional 31,278 shares during the last quarter. Access Investment Management LLC bought a new position in Apple in the 1st quarter worth about $140,000. Hoese & Co LLP increased its stake in Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 57 shares during the last quarter. Sage Financial Group Inc. bought a new position in Apple in the 2nd quarter worth about $206,000. Finally, Benchmark Wealth Management LLC bought a new position in Apple in the 2nd quarter worth about $208,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of research analyst reports. Raymond James upped their target price on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Evercore ISI reiterated a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. TD Cowen increased their price objective on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. Finally, New Street Research reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $235.91.

Insider Activity

In other news, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction on 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 completion of the transaction, the chief operating officer now owns 489,944 shares in the company, valued at approximately $111,148,695.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 517,924 shares of company stock worth $114,786,399 in the last quarter. 0.06% of the stock is owned by company insiders.

Apple Trading Down 1.5 %

NASDAQ AAPL opened at $230.10 on Thursday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The stock has a 50 day simple moving average of $227.23 and a two-hundred day simple moving average of $211.59. The stock has a market cap of $3.53 trillion, a P/E ratio of 35.79, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating 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 return on equity of 147.15% and a net margin of 26.44%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.26 EPS. On average, analysts forecast that Apple Inc. will post 6.65 earnings per share for the current year.

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.