Financial Insights Inc. Sells 30,939 Shares of Apple Inc. (NASDAQ:AAPL)

Financial Insights Inc. lowered its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 29.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 73,396 shares of the iPhone maker's stock after selling 30,939 shares during the period. Apple comprises about 5.6% of Financial Insights Inc.'s holdings, making the stock its 4th largest position. Financial Insights Inc.'s holdings in Apple were worth $17,101,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Private Advisor Group LLC boosted its stake in Apple by 1.3% during the 3rd quarter. Private Advisor Group LLC now owns 2,279,719 shares of the iPhone maker's stock worth $531,166,000 after purchasing an additional 28,488 shares during the period. Lanham O Dell & Company Inc. increased its position in Apple by 8.4% in the 3rd quarter. Lanham O Dell & Company Inc. now owns 4,821 shares of the iPhone maker's stock valued at $1,123,000 after acquiring an additional 375 shares during the period. ODonnell Financial Services LLC raised its stake in Apple by 4.0% during the 3rd quarter. ODonnell Financial Services LLC now owns 35,003 shares of the iPhone maker's stock valued at $8,156,000 after acquiring an additional 1,359 shares during the last quarter. Stanley Laman Group Ltd. grew its stake in shares of Apple by 0.9% in the 3rd quarter. Stanley Laman Group Ltd. now owns 43,357 shares of the iPhone maker's stock valued at $10,102,000 after purchasing an additional 393 shares during the last quarter. Finally, Accordant Advisory Group Inc increased its holdings in shares of Apple by 10.8% in the third quarter. Accordant Advisory Group Inc now owns 1,384 shares of the iPhone maker's stock valued at $322,000 after purchasing an additional 135 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of analyst reports. UBS Group reiterated a "neutral" rating and issued a $236.00 price objective on shares of Apple in a research report on Monday, December 2nd. Loop Capital dropped their price target on shares of Apple from $300.00 to $275.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Needham & Company LLC restated a "buy" rating and issued a $260.00 price objective on shares of Apple in a research report on Tuesday, December 10th. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $265.00 target price on shares of Apple in a research report on Tuesday, September 10th. Finally, StockNews.com cut Apple from a "buy" rating to a "hold" rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $236.78.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the firm's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now owns 15,419 shares of the company's stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company's stock, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 508,170 shares of company stock valued at $117,004,745 over the last three months. 0.06% of the stock is owned by insiders.

Apple Stock Up 1.9 %

AAPL traded up $4.70 on Friday, reaching $254.49. The company's stock had a trading volume of 145,580,875 shares, compared to its average volume of 57,671,145. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $255.00. The business's 50 day moving average is $234.97 and its 200 day moving average is $225.48. The stock has a market cap of $3.85 trillion, a price-to-earnings ratio of 41.86, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 earnings per share. As a group, research analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.39%. Apple's dividend payout ratio (DPR) is presently 16.45%.

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.