Investment Insight Wealth Management LLC Invests $4.05 Million in Apple Inc. $AAPL

Investment Insight Wealth Management LLC purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 14,905 shares of the iPhone maker’s stock, valued at approximately $4,052,000. Apple makes up 4.0% of Investment Insight Wealth Management LLC’s portfolio, making the stock its 6th biggest position.

Other large investors also recently bought and sold shares of the company. Isthmus Partners LLC boosted its holdings in Apple by 6.4% during the third quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker’s stock worth $25,000 after buying an additional 5,808 shares in the last quarter. ROSS JOHNSON & Associates LLC raised its position in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares during the period. LSV Asset Management purchased a new stake in shares of Apple during the 4th quarter worth about $65,000. Timmons Wealth Management LLC acquired a new stake in shares of Apple during the 4th quarter valued at about $69,000. Finally, Inspire Investing LLC acquired a new stake in shares of Apple during the 4th quarter valued at about $76,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In other news, insider Ben Borders sold 116 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the transaction, the insider directly owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Deirdre O’brien sold 30,002 shares of the business’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the completion of the sale, the senior vice president owned 136,810 shares in the company, valued at approximately $34,934,433.50. This trade represents a 17.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 97,875 shares of company stock worth $24,998,541 over the last three months. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AAPL. Citigroup reaffirmed a “buy” rating on shares of Apple in a report on Monday, June 1st. Wedbush reiterated an “outperform” rating and set a $400.00 target price on shares of Apple in a research report on Friday, June 5th. Tigress Financial reissued a “strong-buy” rating and issued a $375.00 price target (up from $305.00) on shares of Apple in a research note on Thursday, May 14th. The Goldman Sachs Group restated a “buy” rating on shares of Apple in a research report on Monday, March 2nd. Finally, Monness Crespi & Hardt lifted their target price on shares of Apple from $315.00 to $335.00 and gave the company a “buy” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $314.59.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s planned price increases could protect margins as memory and storage costs rise, and Bank of America reiterated a Buy rating with a $380 target, citing Apple’s pricing power and supply-chain strength. Article Title
• Positive Sentiment: Reports of upcoming AI-focused devices and a second-generation iPhone Air support confidence in Apple’s product pipeline and longer-term growth story. Article Title
• Neutral Sentiment: Apple’s planned price hikes may help earnings, but they could also pressure demand if consumers balk at higher handset prices. Article Title
• Neutral Sentiment: Apple opening Brazil’s App Store to alternative marketplaces reduces regulatory friction there, but it also underscores ongoing global platform scrutiny. Article Title

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $298.01 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The business’s 50 day moving average price is $289.73 and its 200-day moving average price is $272.98. The firm has a market capitalization of $4.38 trillion, a PE ratio of 36.04, a P/E/G ratio of 2.59 and a beta of 1.09. Apple Inc. has a 1 year low of $196.85 and a 1 year high of $317.40.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. During the same period in the previous year, the business earned $1.65 earnings per share. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, equities research analysts expect that Apple Inc. will post 8.75 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a dividend of $0.27 per share. This is a boost from Apple’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 annualized dividend and a yield of 0.4%. Apple’s dividend payout ratio is presently 13.06%.

Apple Profile

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.