Investment Insight Wealth Management LLC Acquires New Stake in Apple Inc. $AAPL

Investment Insight Wealth Management LLC acquired a new stake in Apple Inc. (NASDAQ:AAPL) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 14,905 shares of the iPhone maker’s stock, valued at approximately $4,052,000. Apple comprises approximately 4.0% of Investment Insight Wealth Management LLC’s portfolio, making the stock its 6th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. Reyes Financial Architecture Inc. increased its stake in Apple by 0.4% in the 3rd quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock worth $2,520,000 after buying an additional 37 shares during the period. WESPAC Advisors LLC boosted its position in Apple by 0.3% in the 4th quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker’s stock valued at $3,351,000 after buying an additional 39 shares during the period. Interactive Financial Advisors Inc. grew its stake in Apple by 4.0% in the 4th quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock worth $286,000 after acquiring an additional 40 shares in the last quarter. Orion Investment Co grew its stake in Apple by 0.3% in the 4th quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker’s stock worth $3,902,000 after acquiring an additional 41 shares in the last quarter. Finally, Seven Springs Wealth Group LLC increased its position in shares of Apple by 0.3% during the third quarter. Seven Springs Wealth Group LLC now owns 15,451 shares of the iPhone maker’s stock worth $3,934,000 after acquiring an additional 42 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Moffett Nathanson lifted their price target on shares of Apple from $241.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Barclays reissued an “underweight” rating on shares of Apple in a research note on Tuesday, June 9th. Sanford C. Bernstein restated an “outperform” rating on shares of Apple in a report on Monday, June 8th. Tigress Financial reaffirmed a “strong-buy” rating and set a $375.00 target price (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. Finally, Bank of America reiterated a “buy” rating and issued a $380.00 target price on shares of Apple in a report on Thursday. One investment 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 issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.59.

Key Headlines Impacting Apple

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

Insider Transactions at Apple

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $421,850.00. Following the completion of the transaction, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Deirdre O’brien sold 30,002 shares of Apple stock in a transaction that occurred on 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 sale, the senior vice president owned 136,810 shares of the company’s stock, valued at approximately $34,934,433.50. The trade was 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. Over the last three months, insiders sold 97,875 shares of company stock worth $24,998,541. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $298.01 on Friday. The company has a market capitalization of $4.38 trillion, a P/E ratio of 36.04, a PEG ratio of 2.59 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. Apple Inc. has a 12 month low of $196.85 and a 12 month high of $317.40. The firm has a fifty day simple moving average of $289.73 and a 200-day simple moving average of $272.98.

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

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a $0.27 dividend. The ex-dividend date was Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is 13.06%.

About Apple

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.