Insight Inv LLC Cuts Stock Position in Apple Inc. $AAPL

Insight Inv LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 55.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,387 shares of the iPhone maker’s stock after selling 38,348 shares during the period. Apple accounts for about 4.2% of Insight Inv LLC’s investment portfolio, making the stock its largest holding. Insight Inv LLC’s holdings in Apple were worth $6,235,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Avid Wealth Partners LLC boosted its position in shares of Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock worth $935,000 after purchasing an additional 930 shares in the last quarter. Bell & Brown Wealth Advisors LLC raised its stake in 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 buying an additional 240 shares during the last quarter. American National Bank & Trust raised its stake in Apple by 2.4% during the second quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock valued at $40,107,000 after buying an additional 4,543 shares during the last quarter. Andina Capital Management LLC boosted its holdings in Apple by 209.2% in the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after acquiring an additional 4,591 shares in the last quarter. Finally, Plum Street Advisors LLC grew its stake in shares of Apple by 4.0% in the first quarter. Plum Street Advisors LLC now owns 7,889 shares of the iPhone maker’s stock worth $1,752,000 after acquiring an additional 301 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $269.05 on Tuesday. The firm has a fifty day simple moving average of $249.17 and a two-hundred day simple moving average of $222.85. The firm has a market cap of $3.99 trillion, a PE ratio of 40.83, a P/E/G ratio of 2.62 and a beta of 1.09. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $277.32.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. During the same period last year, the business posted $1.64 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Monday, November 10th will be 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 is Monday, November 10th. Apple’s payout ratio is currently 13.92%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AAPL. Seaport Res Ptn upgraded shares of Apple to a “strong-buy” rating in a research note on Wednesday, October 1st. CLSA raised shares of Apple to a “strong-buy” rating in a report on Sunday, October 5th. The Goldman Sachs Group increased their price target on shares of Apple from $279.00 to $320.00 and gave the company a “buy” rating in a report on Friday. JPMorgan Chase & Co. raised their price target on shares of Apple from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday. Finally, TD Cowen boosted their price objective on shares of Apple from $275.00 to $325.00 and gave the stock a “buy” rating in a report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.52.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the sale, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. This represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevan Parekh sold 4,199 shares of the stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the completion of the transaction, the chief financial officer owned 8,765 shares in the company, valued at $2,168,373.35. The trade was a 32.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 259,121 shares of company stock worth $65,358,981 over the last 90 days. 0.06% of the stock is owned by company insiders.

Apple 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.