Insight Wealth Partners LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 28.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 4,923 shares of the iPhone maker’s stock after selling 1,956 shares during the period. Insight Wealth Partners LLC’s holdings in Apple were worth $601,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. FMR LLC grew its position in Apple by 3.4% during the fourth quarter. FMR LLC now owns 358,551,697 shares of the iPhone maker’s stock valued at $47,576,225,000 after acquiring an additional 11,852,200 shares during the period. Norges Bank purchased a new stake in shares of Apple during the 4th quarter worth about $22,236,319,000. Morgan Stanley increased its position in Apple by 4.6% during the 4th quarter. Morgan Stanley now owns 130,352,438 shares of the iPhone maker’s stock worth $17,296,465,000 after purchasing an additional 5,738,590 shares in the last quarter. Nuveen Asset Management LLC increased its position in Apple by 4.7% during the 4th quarter. Nuveen Asset Management LLC now owns 117,390,371 shares of the iPhone maker’s stock worth $15,576,528,000 after purchasing an additional 5,293,575 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in Apple by 5.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 69,950,967 shares of the iPhone maker’s stock valued at $9,281,794,000 after buying an additional 3,637,480 shares during the period. 57.77% of the stock is currently owned by institutional investors and hedge funds.
In other Apple news, COO Jeffrey E. Williams sold 133,867 shares of the firm’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $125.74, for a total value of $16,832,436.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Deirdre O’brien sold 18,216 shares of Apple stock in a transaction that occurred on Friday, April 16th. The stock was sold at an average price of $134.01, for a total transaction of $2,441,126.16. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, April 27th. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.41. Apple had a net margin of 20.91% and a return on equity of 75.15%. The company had revenue of $89.58 billion for the quarter, compared to analysts’ expectations of $76.84 billion. During the same quarter in the previous year, the company posted $0.64 EPS. The business’s revenue was up 53.6% compared to the same quarter last year. Sell-side analysts expect that Apple Inc. will post 4.03 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 13th. Shareholders of record on Monday, May 10th will be issued a $0.22 dividend. The ex-dividend date is Friday, May 7th. This represents a $0.88 annualized dividend and a dividend yield of 0.66%. This is a boost from Apple’s previous quarterly dividend of $0.21. Apple’s dividend payout ratio is currently 25.00%.
A number of equities analysts have recently commented on AAPL shares. Cowen raised their target price on shares of Apple from $133.00 to $153.00 and gave the company an “outperform” rating in a research note on Friday, January 22nd. Wedbush boosted their price objective on Apple from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, April 29th. Needham & Company LLC reiterated a “buy” rating and issued a $170.00 target price on shares of Apple in a research note on Wednesday, April 21st. Raymond James upped their price target on Apple from $160.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, April 29th. Finally, Monness Crespi & Hardt boosted their target price on shares of Apple from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, April 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $146.82.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.
Recommended Story: Earnings Reports
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL).
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.