Apple Inc. $AAPL is Fingerlakes Wealth Management Inc.’s 3rd Largest Position

Fingerlakes Wealth Management Inc. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,429 shares of the iPhone maker’s stock after selling 822 shares during the quarter. Apple accounts for approximately 5.0% of Fingerlakes Wealth Management Inc.’s holdings, making the stock its 3rd biggest position. Fingerlakes Wealth Management Inc.’s holdings in Apple were worth $6,653,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Ryan Investment Management Inc. acquired a new stake in shares of Apple during the second quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC increased its stake in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 180 shares during the period. Nexus Investment Management ULC lifted its position in Apple by 333.3% in the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock worth $53,000 after buying an additional 200 shares in the last quarter. Elite Financial Inc. acquired a new stake in shares of Apple during the 1st quarter valued at $58,000. Finally, LSV Asset Management purchased a new position in shares of Apple during the 4th quarter valued at $65,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Robert W. Baird set a $300.00 price objective on Apple in a report on Friday, October 31st. UBS Group raised their price target on Apple from $220.00 to $280.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Barclays lifted their price target on Apple from $180.00 to $230.00 and gave the company an “underweight” rating in a report on Friday, October 31st. BMO Capital Markets restated a “buy” rating on shares of Apple in a report on Wednesday, August 13th. Finally, DZ Bank upgraded shares of Apple from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Tuesday, November 4th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.22.

Apple Stock Down 0.9%

Shares of Apple stock opened at $266.25 on Friday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $277.32. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The stock has a 50 day moving average price of $258.74 and a two-hundred day moving average price of $228.42. The stock has a market capitalization of $3.93 trillion, a P/E ratio of 40.40, a PEG ratio of 2.62 and a beta of 1.09.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. The business had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.64 earnings per share. Equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, November 10th. Apple’s dividend payout ratio is 13.92%.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was 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 owned 3,280,295 shares in the company, valued at $842,412,558.95. This represents a 3.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevan Parekh sold 4,199 shares of Apple stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $247.39, for a total value of $1,038,790.61. Following the completion of the transaction, the chief financial officer directly owned 8,765 shares in the company, valued at approximately $2,168,373.35. This represents a 32.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 228,052 shares of company stock valued at $58,604,588. 0.06% of the stock is owned by corporate insiders.

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.