Fingerlakes Wealth Management Inc. increased its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,783 shares of the iPhone maker’s stock after acquiring an additional 62 shares during the quarter. Apple comprises 6.8% of Fingerlakes Wealth Management Inc.’s holdings, making the stock its largest holding. Fingerlakes Wealth Management Inc.’s holdings in Apple were worth $7,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Nelson Capital Management LLC lifted its stake in Apple by 7.1% in the second quarter. Nelson Capital Management LLC now owns 97,003 shares of the iPhone maker’s stock valued at $20,431,000 after buying an additional 6,460 shares during the period. Vanguard Capital Wealth Advisors lifted its stake in Apple by 1.9% in the second quarter. Vanguard Capital Wealth Advisors now owns 60,477 shares of the iPhone maker’s stock valued at $12,738,000 after buying an additional 1,132 shares during the period. Wealthgarden F.S. LLC acquired a new position in Apple in the second quarter valued at approximately $1,807,000. Wambolt & Associates LLC lifted its stake in Apple by 5.4% in the second quarter. Wambolt & Associates LLC now owns 82,669 shares of the iPhone maker’s stock valued at $17,919,000 after buying an additional 4,228 shares during the period. Finally, PFG Advisors lifted its stake in Apple by 4.5% in the second quarter. PFG Advisors now owns 186,008 shares of the iPhone maker’s stock valued at $39,177,000 after buying an additional 8,088 shares during the period. 60.41% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have issued reports on AAPL. Bank of America reissued a “buy” rating and issued a $256.00 price target on shares of Apple in a research note on Thursday, October 3rd. Barclays reissued an “underweight” rating and issued a $186.00 price target on shares of Apple in a research note on Tuesday, October 1st. Morgan Stanley reissued an “overweight” rating and issued a $273.00 price target on shares of Apple in a research note on Tuesday, September 10th. Tigress Financial boosted their price target on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 28th. Finally, Robert W. Baird boosted their price objective on Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $235.91.
Apple Stock Down 1.5 %
Shares of NASDAQ:AAPL opened at $230.10 on Thursday. The company has a market capitalization of $3.53 trillion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The business has a fifty day moving average price of $227.23 and a two-hundred day moving average price of $211.59. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49.
Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 EPS. Analysts forecast that Apple Inc. will post 6.65 earnings per share for the current year.
Insider Activity
In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 517,924 shares of company stock valued at $114,786,399 in the last 90 days. Insiders own 0.06% of the company’s stock.
About Apple
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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