Insight Wealth Strategies LLC Purchases 1,690 Shares of Apple Inc. $AAPL

Insight Wealth Strategies LLC grew its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,318 shares of the iPhone maker's stock after purchasing an additional 1,690 shares during the period. Apple makes up approximately 1.4% of Insight Wealth Strategies LLC's investment portfolio, making the stock its 23rd largest holding. Insight Wealth Strategies LLC's holdings in Apple were worth $13,929,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Apple by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock worth $387,749,545,000 after buying an additional 26,856,752 shares during the last quarter. State Street Corp grew its position in Apple by 1.1% during the fourth quarter. State Street Corp now owns 604,056,505 shares of the iPhone maker's stock worth $164,218,801,000 after buying an additional 6,555,392 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Apple by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker's stock valued at $97,031,587,000 after purchasing an additional 1,866,103 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Apple by 0.6% in the 4th quarter. Morgan Stanley now owns 230,483,035 shares of the iPhone maker's stock valued at $62,659,118,000 after purchasing an additional 1,379,651 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Apple in the 4th quarter valued at $52,266,468,000. Institutional investors own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In related news, SVP Jennifer Newstead sold 1,439 shares of the company's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $310.95, for a total value of $447,457.05. Following the completion of the transaction, the senior vice president directly owned 37,229 shares in the company, valued at approximately $11,576,357.55. The trade was a 3.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ben Borders sold 116 shares of the company's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the transaction, the insider owned 38,713 shares of the company's stock, valued at $11,425,754.82. This trade represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 4,433 shares of company stock valued at $1,367,024 over the last quarter. 0.06% of the stock is owned by company insiders.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Orderly CEO succession: Tim Cook is leaving the CEO role after 15 years but will remain Apple’s executive chairman. Cook strongly endorsed successor John Ternus, a longtime hardware leader, potentially reducing fears of an abrupt management break. Tim Cook's parting message: Apple is in the hands of a product builder
• Positive Sentiment: Product catalysts ahead: Apple’s first major product event under Ternus is expected September 9, with reports pointing to new iPhones and a possible foldable model. Strong iPhone demand, potential iOS market-share gains and rising interest in Mac hardware for AI workloads could support future revenue. Apple Valuation Nears $5T as John Ternus Steps Up as New CEO
• Neutral Sentiment: Strong track record and support: Cook’s tenure produced substantial shareholder gains, while Apple’s latest quarter delivered revenue growth and an earnings beat. Analysts’ median price target remains above the current quotation, although the stock’s elevated valuation leaves less room for disappointment.
• Negative Sentiment: AI strategy concerns: Ternus inherits an artificial-intelligence strategy that relies heavily on outside partners, leaving Apple behind leading rivals in some areas. Investors will look for evidence that the new CEO can accelerate AI-powered Siri and on-device capabilities. Apple’s New CEO Inherits an AI Strategy Built on Outsiders
• Negative Sentiment: Execution and valuation risks: Commentators warn that App Store pressure, supply-chain challenges, potential memory-cost inflation and a trailing P/E near 37 make Apple vulnerable if the September launch disappoints. Apple TV+’s latest price increase could also slow subscriber growth. Apple Is Facing One of Its Most Challenging Times in a Decade

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Raymond James Financial reiterated a "market perform" rating on shares of Apple in a research note on Friday, July 31st. 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. Maxim Group reaffirmed a "buy" rating and set a $350.00 target price (up from $310.00) on shares of Apple in a research report on Tuesday, June 9th. HSBC raised Apple from a "hold" rating to a "buy" rating and raised their target price for the stock from $260.00 to $366.00 in a research report on Thursday, July 16th. Finally, Barclays reissued an "underweight" rating and issued a $245.00 price objective (down from $253.00) on shares of Apple in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, Apple has an average rating of "Moderate Buy" and an average target price of $330.53.

Apple Stock Performance

Apple stock traded down $6.07 during trading on Monday, hitting $313.63. The stock had a trading volume of 15,356,139 shares, compared to its average volume of 49,963,801. Apple Inc. has a 1 year low of $225.95 and a 1 year high of $344.57. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The stock's 50 day moving average is $312.24 and its two-hundred day moving average is $288.52. The stock has a market cap of $4.58 trillion, a price-to-earnings ratio of 35.97, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating the consensus estimate of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The business had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. During the same quarter in the prior year, the business earned $1.57 earnings per share. Apple's revenue for the quarter was up 16.4% on a year-over-year basis. As a group, analysts predict that Apple Inc. will post 8.76 EPS for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were given a $0.27 dividend. The ex-dividend date was Monday, August 10th. This represents a $1.08 annualized dividend and a yield of 0.3%. Apple's payout ratio is 12.39%.

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.