Apple Inc. (NASDAQ:AAPL) Shares Bought by Financial Insights Inc.

Financial Insights Inc. grew its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 65,121 shares of the iPhone maker's stock after buying an additional 1,774 shares during the quarter. Apple accounts for approximately 5.8% of Financial Insights Inc.'s portfolio, making the stock its 4th biggest position. Financial Insights Inc.'s holdings in Apple were worth $14,465,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tallon Kerry Patrick purchased a new stake in Apple during the fourth quarter worth approximately $1,877,000. First National Bank of Hutchinson increased its position in Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock worth $8,845,000 after buying an additional 6,982 shares during the period. Capital & Planning LLC increased its position in Apple by 10.7% during the fourth quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock worth $6,836,000 after buying an additional 2,647 shares during the period. Eagle Capital Management LLC increased its position in Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after buying an additional 272 shares during the period. Finally, Brighton Jones LLC increased its position in Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after buying an additional 69,207 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Activity at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by company insiders.

Apple Price Performance

Shares of AAPL traded down $2.06 during trading hours on Friday, reaching $230.73. 31,276,517 shares of the company traded hands, compared to its average volume of 57,842,020. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $3.42 trillion, a PE ratio of 35.01, a price-to-earnings-growth ratio of 2.44 and a beta of 1.16. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The stock has a fifty day simple moving average of $209.13 and a 200 day simple moving average of $213.37.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%. The business had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter last year, the company earned $1.40 earnings per share. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio (DPR) is 15.78%.

Analyst Ratings Changes

Several research analysts have commented on the company. Raymond James Financial reaffirmed an "outperform" rating and set a $240.00 price target (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. Loop Capital cut 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. Evercore ISI reaffirmed an "outperform" rating and set a $250.00 price target on shares of Apple in a research report on Wednesday. Monness Crespi & Hardt lifted their price target on Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, DA Davidson reissued a "buy" rating and issued a $250.00 target price on shares of Apple in a report on Friday, August 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $237.60.

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.