Apple Inc. $AAPL Holdings Lowered by Insight Advisors LLC PA

Insight Advisors LLC PA lowered its stake in Apple Inc. (NASDAQ:AAPL) by 4.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 71,588 shares of the iPhone maker’s stock after selling 3,130 shares during the quarter. Apple comprises approximately 4.2% of Insight Advisors LLC PA’s holdings, making the stock its 6th largest holding. Insight Advisors LLC PA’s holdings in Apple were worth $23,841,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AAPL. Avenir Tech Ltd bought a new position in Apple during the second quarter worth about $29,000. Longfellow Investment Management Co. LLC acquired a new position in shares of Apple during the 2nd quarter worth about $30,000. Ironwood Wealth Management Inc. acquired a new position in shares of Apple during the 3rd quarter worth about $34,000. Ascentis Wealth Management LLC increased its stake in shares of Apple by 822.7% in the 2nd quarter. Ascentis Wealth Management LLC now owns 292,493 shares of the iPhone maker’s stock valued at $85,000 after acquiring an additional 260,792 shares during the last quarter. Finally, Bamco Inc. NY bought a new stake in shares of Apple in the 2nd quarter valued at about $118,000. 67.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. KeyCorp reiterated an “underweight” rating and issued a $250.00 price target on shares of Apple in a research report on Tuesday, November 3rd. China Renaissance upgraded shares of Apple from a “hold” rating to a “buy” rating and set a $425.00 price objective for the company in a report on Wednesday. Deutsche Bank cut shares of Apple from a “buy” rating to a “hold” rating in a report on Monday, August 17th. Piper Sandler initiated coverage on shares of Apple in a research note on Monday, August 17th. They issued an “overweight” rating for the company. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $350.00 target price (up from $310.00) on shares of Apple in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $347.11.

Insider Activity

In other news, insider Ben Borders sold 1,280 shares of the company’s stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $345.40, for a total value of $442,112.00. Following the completion of the transaction, the insider owned 38,288 shares in the company, valued at $13,224,675.20. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Ternus sold 25,412 shares of the stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $332.94, for a total transaction of $8,460,671.28. Following the sale, the chief executive officer directly owned 59,567 shares of the company’s stock, valued at $19,832,236.98. This represents a 29.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 290,212 shares of company stock worth $96,639,685. Corporate insiders own 0.06% of the company’s stock.

Key Apple News

Here’s some of the latest news about AAPL:

• Positive Sentiment: China Renaissance upgraded Apple to Buy from Hold and raised its price target to $425, citing growth potential from Apple’s first foldable iPhone. The bullish outlook helped support shares. Analyst raises Apple price target to $425
• Positive Sentiment: Reports point to strong iPhone demand and a record quarterly revenue result, while the foldable iPhone could provide a new growth opportunity. A faster Siri AI roadmap may also strengthen Apple’s longer-term product story.
• Negative Sentiment: Memory-chip prices are creating a margin headwind. Apple’s December-quarter gross-margin outlook of 45%–46% was reported below analysts’ 46.3% expectation, tempering the positive impact of strong sales. Apple faces memory-cost pressure despite record quarter

Apple Stock Up 2.0%

Shares of Apple stock opened at $355.63 on Thursday. Apple Inc. has a 1 year low of $243.42 and a 1 year high of $355.91. The business has a 50-day moving average of $337.88 and a two-hundred day moving average of $300.06. The company has a market capitalization of $5.17 trillion, a P/E ratio of 39.65, a price-to-earnings-growth ratio of 3.35 and a beta of 1.07. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 0.94.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.11. Apple had a return on equity of 125.35% and a net margin of 27.60%. The business had revenue of $114.48 billion for the quarter, compared to analysts’ expectations of $113.40 billion. During the same quarter in the previous year, the business posted $1.85 EPS. Apple’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities analysts predict that Apple Inc. will post 9.45 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, November 12th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date is Thursday, November 12th. Apple’s dividend payout ratio (DPR) is 12.04%.

About Apple

Apple Inc. designs, manufactures and markets consumer electronics, software and digital services. Its products include the iPhone, Mac computers, iPad, Apple Watch and AirPods, along with operating systems and applications such as iOS, macOS and iPadOS. The company also offers services including the App Store, Apple Music, Apple TV+, iCloud and Apple Pay. These products and services are integrated across Apple’s devices and are sold to consumers, businesses and institutions around the world. Founded in 1976 and headquartered in Cupertino, California, Apple serves customers globally through online and retail stores, wireless carriers and other resellers.