Insight Wealth Strategies LLC Acquires 936 Shares of Apple Inc. $AAPL

Insight Wealth Strategies LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 37,946 shares of the iPhone maker’s stock after purchasing an additional 936 shares during the period. Apple makes up approximately 1.0% of Insight Wealth Strategies LLC’s holdings, making the stock its 26th largest position. Insight Wealth Strategies LLC’s holdings in Apple were worth $7,886,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AAPL. ROSS JOHNSON & Associates LLC raised its holdings in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares during the last quarter. Life Planning Partners Inc bought a new stake in Apple in the 4th quarter worth approximately $47,000. Elite Financial Inc. purchased a new stake in Apple during the 1st quarter valued at $58,000. Conquis Financial LLC bought a new position in shares of Apple during the 4th quarter valued at $63,000. Finally, LSV Asset Management purchased a new position in shares of Apple in the 4th quarter worth $65,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 price objective for the company in a research report on Thursday, September 4th. BMO Capital Markets reiterated a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. Tigress Financial raised their price objective on shares of Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a report on Wednesday. Morgan Stanley set a $240.00 target price on shares of Apple and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Finally, Sanford C. Bernstein assumed coverage on shares of Apple in a research report on Monday. They issued an “outperform” rating and a $290.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $241.93.

Insider Activity at Apple

In other news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.06% of the stock is owned by insiders.

Apple Trading Down 0.5%

Shares of AAPL opened at $237.88 on Friday. The firm has a market capitalization of $3.53 trillion, a price-to-earnings ratio of 36.10, a PEG ratio of 2.48 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a 50-day moving average of $223.66 and a 200 day moving average of $212.35.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. The company had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.40 EPS. On average, research analysts expect 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, August 14th. Stockholders of record on Monday, August 11th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio is 15.78%.

Apple Company 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.