Financial Insights Inc. Has $15.86 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Financial Insights Inc. cut its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 13.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,347 shares of the iPhone maker's stock after selling 10,049 shares during the period. Apple makes up 6.1% of Financial Insights Inc.'s portfolio, making the stock its 5th biggest position. Financial Insights Inc.'s holdings in Apple were worth $15,863,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Norges Bank bought a new position in Apple in the fourth quarter valued at about $46,868,648,000. Vanguard Group Inc. lifted its holdings in Apple by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after acquiring an additional 49,168,843 shares during the period. Proficio Capital Partners LLC lifted its holdings in Apple by 23,555.4% in the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after acquiring an additional 20,966,232 shares during the period. Northern Trust Corp lifted its holdings in Apple by 13.3% in 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 acquiring an additional 20,079,472 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Apple by 14.3% in 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 worth $26,220,566,000 after buying an additional 13,137,968 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider now owns 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the transaction, the chief financial officer now owns 4,569 shares of the company's stock, valued at approximately $941,214. The trade was a 50.01% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is currently owned by company insiders.

Apple Price Performance

NASDAQ:AAPL traded up $4.42 during trading hours on Friday, reaching $201.00. The stock had a trading volume of 95,792,149 shares, compared to its average volume of 53,610,148. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a 50 day moving average price of $202.35 and a two-hundred day moving average price of $221.41. The stock has a market capitalization of $3.00 trillion, a PE ratio of 31.31, a PEG ratio of 2.24 and a beta of 1.22.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The company's revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.53 EPS. As a group, sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple declared that its board has initiated a share buyback plan on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a $0.26 dividend. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. Apple's payout ratio is 16.20%.

Analyst Upgrades and Downgrades

AAPL has been the topic of several recent research reports. Jefferies Financial Group reaffirmed an "underperform" rating and issued a $170.62 price objective (up previously from $167.88) on shares of Apple in a research note on Friday, May 2nd. Morgan Stanley reaffirmed an "overweight" rating on shares of Apple in a research note on Friday, June 13th. Raymond James Financial decreased their price objective on Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Citigroup reaffirmed a "buy" rating on shares of Apple in a research note on Tuesday, June 10th. Finally, China Renaissance initiated coverage on Apple in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $234.86.

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.