New Insight Wealth Advisors Has $3.63 Million Stock Holdings in Apple Inc. $AAPL

New Insight Wealth Advisors trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,674 shares of the iPhone maker’s stock after selling 556 shares during the quarter. Apple makes up 1.5% of New Insight Wealth Advisors’ holdings, making the stock its 19th biggest holding. New Insight Wealth Advisors’ holdings in Apple were worth $3,626,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Burkett Financial Services LLC boosted its stake in shares of Apple by 0.6% during the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock valued at $3,199,000 after purchasing an additional 93 shares in the last quarter. Avid Wealth Partners LLC boosted its stake in shares of Apple by 28.3% during the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after purchasing an additional 930 shares in the last quarter. Bell & Brown Wealth Advisors LLC boosted its stake in shares of Apple by 0.4% during the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after purchasing an additional 240 shares in the last quarter. Andina Capital Management LLC boosted its stake in shares of Apple by 209.2% during the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock valued at $1,507,000 after purchasing an additional 4,591 shares in the last quarter. Finally, Plum Street Advisors LLC boosted its stake in shares of Apple by 4.0% during the first quarter. Plum Street Advisors LLC now owns 7,889 shares of the iPhone maker’s stock valued at $1,752,000 after purchasing an additional 301 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the transaction, the senior vice president owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This represents a 20.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the transaction, the chief executive officer directly owned 3,280,295 shares in the company, valued at $842,412,558.95. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,922 shares of company stock valued at $64,320,190 in the last 90 days. Insiders own 0.06% of the company’s stock.

Apple Stock Down 3.5%

Shares of NASDAQ:AAPL opened at $245.27 on Friday. The company has a market capitalization of $3.64 trillion, a PE ratio of 37.22, a price-to-earnings-growth ratio of 2.47 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The business has a fifty day moving average price of $237.61 and a two-hundred day moving average price of $215.92. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 EPS. Analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given 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 of this dividend was Monday, August 11th. Apple’s dividend payout ratio is currently 15.78%.

Analysts Set New Price Targets

AAPL has been the topic of a number of recent analyst reports. Morgan Stanley set a $298.00 price objective on Apple and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Tigress Financial lifted their price objective on Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 17th. Loop Capital cut their price objective on Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a research note on Thursday, August 21st. Melius Research set a $290.00 price objective on Apple and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Apple in a research note on Wednesday. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average price target of $248.29.

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.