Apple Inc. (NASDAQ:AAPL) is Fingerlakes Wealth Management Inc.’s 2nd Largest Position

Fingerlakes Wealth Management Inc. lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,883 shares of the iPhone maker’s stock after selling 430 shares during the period. Apple comprises approximately 7.0% of Fingerlakes Wealth Management Inc.’s holdings, making the stock its 2nd biggest holding. Fingerlakes Wealth Management Inc.’s holdings in Apple were worth $8,735,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AAPL. State Street Corp grew its position in Apple by 10.6% in the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock valued at $136,074,372,000 after acquiring an additional 55,935,105 shares in the last quarter. Geode Capital Management LLC grew its holdings in Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock valued at $77,542,863,000 after purchasing an additional 20,483,787 shares in the last quarter. FMR LLC increased its stake in Apple by 5.3% during the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after buying an additional 18,224,005 shares during the period. Strategic Financial Concepts LLC lifted its holdings in Apple by 25,285.2% in the 4th quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker’s stock worth $2,411,260,000 after buying an additional 9,590,933 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Apple by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock valued at $22,121,656,000 after buying an additional 5,893,741 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AAPL shares. Sanford C. Bernstein boosted their price target on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Tigress Financial upped their target price on Apple from $295.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 3rd. Monness Crespi & Hardt raised their price target on shares of Apple to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Wedbush cut their price target on shares of Apple from $325.00 to $250.00 and set an “outperform” rating on the stock in a report on Monday, April 7th. Finally, Argus upgraded shares of Apple to a “strong-buy” rating in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average target price of $233.88.

Insiders Place Their Bets

In related news, CEO Timothy D. Cook sold 108,136 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the sale, the chief executive officer now owns 3,280,295 shares of the company’s stock, valued at $733,637,976.75. The trade was a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the company’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the sale, the chief financial officer now owns 4,569 shares of the company’s stock, valued at $941,214. This trade represents a 50.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 187,021 shares of company stock worth $41,760,140. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

Shares of AAPL stock opened at $209.28 on Friday. The business has a 50 day simple moving average of $215.71 and a 200 day simple moving average of $229.31. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The firm has a market capitalization of $3.14 trillion, a price-to-earnings ratio of 33.22, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. Apple Inc. has a 12-month low of $169.11 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.48%. Apple’s payout ratio is 15.87%.

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.