Insigneo Advisory Services LLC Trims Stock Position in Apple Inc. (NASDAQ:AAPL)

Insigneo Advisory Services LLC decreased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 371,367 shares of the iPhone maker's stock after selling 6,597 shares during the quarter. Apple comprises approximately 8.5% of Insigneo Advisory Services LLC's holdings, making the stock its largest position. Insigneo Advisory Services LLC's holdings in Apple were worth $82,492,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after purchasing an additional 49,168,843 shares during the period. Geode Capital Management LLC raised its position in shares of Apple by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock worth $84,999,145,000 after purchasing an additional 6,307,413 shares during the period. Norges Bank acquired a new stake in shares of Apple during the fourth quarter worth $46,868,648,000. Northern Trust Corp raised its position in Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after buying an additional 20,079,472 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Apple by 14.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock valued at $26,220,566,000 after buying an additional 13,137,968 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Activity

In other news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider directly owned 15,533 shares in the company, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by corporate insiders.

Apple Trading Up 0.1%

Shares of NASDAQ AAPL traded up $0.12 during midday trading on Friday, hitting $213.88. The stock had a trading volume of 38,805,177 shares, compared to its average volume of 49,464,392. The company's 50-day simple moving average is $204.77 and its 200 day simple moving average is $214.58. The firm has a market cap of $3.19 trillion, a P/E ratio of 33.31, a price-to-earnings-growth ratio of 2.39 and a beta of 1.20. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the firm earned $1.53 EPS. Research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its board has initiated a stock buyback program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a $0.26 dividend. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio (DPR) is currently 16.20%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research report on Friday. Morgan Stanley reissued an "overweight" rating on shares of Apple in a research report on Friday, June 13th. Loop Capital dropped their price target on Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. upped their price target on Apple from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Finally, TD Cowen dropped their price target on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $234.94.

About Apple

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.