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

Insight Wealth Strategies LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,954 shares of the iPhone maker’s stock after selling 847 shares during the quarter. Apple comprises approximately 1.8% of Insight Wealth Strategies LLC’s portfolio, making the stock its 14th biggest holding. Insight Wealth Strategies LLC’s holdings in Apple were worth $13,503,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Hershey Financial Advisers LLC acquired a new position in shares of Apple during the 2nd quarter valued at $42,000. Hoese & Co LLP grew its holdings in Apple by 6.7% during 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 in the last quarter. Sage Financial Group Inc. bought a new position in Apple during the 2nd quarter worth approximately $206,000. Benchmark Wealth Management LLC bought a new stake in Apple during the second quarter valued at $208,000. Finally, SMH Capital Advisors Inc. acquired a new position in Apple in the second quarter valued at approximately $209,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Apple

In other news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’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 completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is owned by insiders.

Apple Stock Up 0.6 %

Shares of AAPL opened at $229.87 on Monday. The company has a 50-day moving average price of $227.73 and a two-hundred day moving average price of $218.30. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The stock has a market cap of $3.47 trillion, a price-to-earnings ratio of 37.81, a P/E/G ratio of 2.24 and a beta of 1.24. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the previous year, the firm earned $1.46 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. Equities analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio is currently 16.45%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several recent research reports. Tigress Financial lifted their price objective on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and lifted their target price for the stock from $205.00 to $212.92 in a report on Monday, October 7th. Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a report on Friday, October 25th. Finally, Moffett Nathanson cut their price target on shares of Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $235.25.

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.