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

Insight Wealth Strategies LLC grew its stake in Apple Inc. (NASDAQ:AAPL) by 43.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,185 shares of the iPhone maker’s stock after acquiring an additional 18,224 shares during the quarter. Apple accounts for 1.5% of Insight Wealth Strategies LLC’s portfolio, making the stock its 19th biggest holding. Insight Wealth Strategies LLC’s holdings in Apple were worth $10,320,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Wyrmwood Management LLC boosted its holdings in Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after acquiring an additional 69 shares in the last quarter. A.P. Gilfoyle & Co. L.P. bought a new stake in Apple in the fourth quarter worth $39,000. Gilfoyle & Co LLC lifted its holdings in shares of Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after purchasing an additional 118 shares in the last quarter. University of Texas Texas AM Investment Managment Co. lifted its holdings in shares of Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. bought a new position in shares of Apple during the fourth quarter valued at $85,000. 60.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AAPL shares. Itau BBA Securities raised Apple from an “underperform” rating to a “market perform” rating and upped their price target for the company from $162.00 to $188.00 in a report on Friday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 price target on shares of Apple in a report on Tuesday, June 11th. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $205.00 price target on shares of Apple in a report on Thursday, June 6th. Bank of America reaffirmed a “buy” rating and set a $230.00 price target on shares of Apple in a report on Wednesday, June 12th. Finally, UBS Group reaffirmed a “neutral” rating and set a $190.00 price target on shares of Apple in a report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.06.

Apple Stock Performance

NASDAQ:AAPL opened at $209.68 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $220.20. The stock has a 50-day moving average price of $187.25 and a 200 day moving average price of $184.74. The stock has a market capitalization of $3.22 trillion, a P/E ratio of 32.61, a P/E/G ratio of 2.61 and a beta of 1.25.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The firm had revenue of $90.75 billion during the quarter, compared to analysts’ expectations of $90.37 billion. During the same quarter last year, the business posted $1.52 earnings per share. The firm’s revenue was down 4.3% on a year-over-year basis. Equities research analysts forecast that Apple Inc. will post 6.58 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were given a dividend of $0.25 per share. The ex-dividend date was Friday, May 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.48%. This is a boost from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Apple declared that its board has authorized a stock buyback plan on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Apple news, insider Chris Kondo sold 4,999 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the completion of the transaction, the insider now owns 29,278 shares in the company, valued at approximately $5,574,531.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arthur D. Levinson sold 75,000 shares of the business’s 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 transaction, the director now directly owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 346,270 shares of company stock worth $60,880,196. 0.06% of the stock is owned by corporate insiders.

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.