Insight 2811 Inc. Trims Position in Apple Inc. (NASDAQ:AAPL)

Insight 2811 Inc. lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,120 shares of the iPhone maker’s stock after selling 99 shares during the quarter. Apple comprises 1.1% of Insight 2811 Inc.’s portfolio, making the stock its 14th largest holding. Insight 2811 Inc.’s holdings in Apple were worth $2,125,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Lantz Financial LLC grew its holdings in shares of Apple by 8.6% during the second quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock worth $6,266,000 after purchasing an additional 2,361 shares in the last quarter. Thompson Davis & CO. Inc. grew its holdings in shares of Apple by 3.2% during the second quarter. Thompson Davis & CO. Inc. now owns 6,292 shares of the iPhone maker’s stock worth $1,325,000 after purchasing an additional 195 shares in the last quarter. SOL Capital Management CO grew its holdings in shares of Apple by 2.1% during the second quarter. SOL Capital Management CO now owns 102,096 shares of the iPhone maker’s stock worth $21,503,000 after purchasing an additional 2,078 shares in the last quarter. Precedent Wealth Partners LLC grew its holdings in shares of Apple by 20.0% during the second quarter. Precedent Wealth Partners LLC now owns 18,449 shares of the iPhone maker’s stock worth $3,886,000 after purchasing an additional 3,076 shares in the last quarter. Finally, Jacobsen Capital Management grew its holdings in shares of Apple by 5.3% during the second quarter. Jacobsen Capital Management now owns 30,715 shares of the iPhone maker’s stock worth $6,469,000 after purchasing an additional 1,542 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In other news, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The stock was 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 of the company’s stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AAPL shares. Jefferies Financial Group lowered Apple from a “hold” rating to an “underperform” rating and cut their price objective for the stock from $211.84 to $200.75 in a report on Tuesday. Wedbush restated an “outperform” rating and issued a $325.00 target price on shares of Apple in a research report on Thursday. The Goldman Sachs Group dropped their target price on Apple from $286.00 to $280.00 and set a “buy” rating for the company in a research report on Thursday. Moffett Nathanson restated a “sell” rating and issued a $188.00 target price (down previously from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Finally, Evercore ISI restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Thursday, September 26th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.14.

Apple Price Performance

Shares of AAPL stock opened at $223.66 on Friday. The stock has a market cap of $3.36 trillion, a price-to-earnings ratio of 36.79, a PEG ratio of 2.18 and a beta of 1.20. The business’s fifty day moving average is $241.07 and its 200 day moving average is $230.77. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. 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 (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for 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%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 earnings per share. Research analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid 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 0.45%. Apple’s payout ratio is 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.