Apple Inc. $AAPL Shares Purchased by Insight Wealth Strategies LLC

by · The Cerbat Gem

Insight Wealth Strategies LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 22.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,562 shares of the iPhone maker’s stock after acquiring an additional 8,616 shares during the quarter. Apple makes up 1.4% of Insight Wealth Strategies LLC’s portfolio, making the stock its 22nd biggest position. Insight Wealth Strategies LLC’s holdings in Apple were worth $11,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Boltwood Capital Management raised its stake in shares of Apple by 0.5% in the 3rd quarter. Boltwood Capital Management now owns 36,394 shares of the iPhone maker’s stock valued at $9,267,000 after purchasing an additional 190 shares in the last quarter. New England Research & Management Inc. raised its stake in Apple by 4.5% during the third quarter. New England Research & Management Inc. now owns 37,501 shares of the iPhone maker’s stock valued at $9,549,000 after buying an additional 1,615 shares in the last quarter. Red Spruce Capital LLC lifted its holdings in Apple by 4.7% during the 3rd quarter. Red Spruce Capital LLC now owns 1,385 shares of the iPhone maker’s stock worth $353,000 after buying an additional 62 shares during the last quarter. Nilsine Partners LLC grew its position in shares of Apple by 4.6% in the 3rd quarter. Nilsine Partners LLC now owns 216,287 shares of the iPhone maker’s stock worth $55,073,000 after acquiring an additional 9,501 shares in the last quarter. Finally, Cambridge Financial Group LLC increased its holdings in shares of Apple by 2.9% in the 3rd quarter. Cambridge Financial Group LLC now owns 16,051 shares of the iPhone maker’s stock valued at $4,087,000 after acquiring an additional 450 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AAPL. Melius raised their price objective on Apple from $290.00 to $345.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Barclays lifted their price target on shares of Apple from $180.00 to $230.00 and gave the company an “underweight” rating in a report on Friday, October 31st. TD Cowen boosted their price objective on shares of Apple from $275.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Loop Capital reissued a “buy” rating and issued a $325.00 target price (up previously from $315.00) on shares of Apple in a report on Tuesday, December 2nd. Finally, DA Davidson lifted their target price on Apple from $250.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $283.92.

Check Out Our Latest Research Report on AAPL

Apple Stock Performance

Shares of NASDAQ AAPL opened at $272.19 on Friday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $288.62. The company has a market cap of $4.02 trillion, a PE ratio of 36.44, a P/E/G ratio of 2.54 and a beta of 1.10. The stock has a 50 day simple moving average of $269.59 and a 200-day simple moving average of $238.81. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 1.06.

Apple (NASDAQ:AAPL – Get Free Report) last announced its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.11. Apple had a return on equity of 164.05% and a net margin of 26.92%.The firm had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. During the same quarter in the previous year, the business earned $1.64 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, November 10th. Apple’s payout ratio is currently 13.92%.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 3,752 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the sale, the insider directly owned 15,098 shares in the company, valued at approximately $4,095,030.54. The trade was a 19.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the transaction, the senior vice president owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 228,052 shares of company stock valued at $58,604,588. Corporate insiders own 0.06% of the company’s stock.

Apple Company Profile

(Free Report)

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.

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