Insigneo Advisory Services LLC Cuts Position in Apple Inc. (NASDAQ:AAPL)

Insigneo Advisory Services LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% in the 2nd quarter, Holdings Channel reports. The fund owned 405,429 shares of the iPhone maker’s stock after selling 1,392 shares during the period. Apple comprises 8.9% of Insigneo Advisory Services LLC’s investment portfolio, making the stock its biggest holding. Insigneo Advisory Services LLC’s holdings in Apple were worth $84,844,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Granite Investment Partners LLC lifted its stake in shares of Apple by 2.7% in the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after acquiring an additional 7,606 shares during the period. Bellwether Advisors LLC lifted its holdings in shares of Apple by 387.3% in the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after buying an additional 19,352 shares during the period. Gentry Private Wealth LLC acquired a new stake in Apple in the 2nd quarter valued at about $876,000. Independent Advisor Alliance boosted its holdings in Apple by 0.9% during the second quarter. Independent Advisor Alliance now owns 920,737 shares of the iPhone maker’s stock worth $193,926,000 after buying an additional 8,028 shares in the last quarter. Finally, WT Asset Management Ltd bought a new stake in shares of Apple during the 2nd quarter worth $80,057,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 412,746 shares of company stock valued at $93,021,362. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AAPL has been the subject of several recent analyst reports. Barclays decreased their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, November 1st. Bank of America reiterated a “buy” rating and issued a $256.00 price objective on shares of Apple in a research note on Thursday, October 3rd. Melius Research restated a “buy” rating and set a $265.00 price target on shares of Apple in a report on Tuesday, August 27th. Robert W. Baird boosted their price target on Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Morgan Stanley reissued an “overweight” rating and set a $273.00 target price on shares of Apple in a research report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $235.51.

Apple Stock Performance

NASDAQ AAPL opened at $224.23 on Tuesday. The stock has a market cap of $3.39 trillion, a P/E ratio of 36.88, a PEG ratio of 2.22 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The company’s 50-day simple moving average is $226.82 and its 200 day simple moving average is $214.68.

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

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.45%. Apple’s dividend payout ratio is currently 16.45%.

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.