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Fingerlakes Wealth Management Inc. Sells 287 Shares of Apple Inc. (NASDAQ:AAPL)

Fingerlakes Wealth Management Inc. lessened its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,706 shares of the iPhone maker’s stock after selling 287 shares during the quarter. Apple accounts for 8.1% of Fingerlakes Wealth Management Inc.’s investment portfolio, making the stock its biggest position. Fingerlakes Wealth Management Inc.’s holdings in Apple were worth $6,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of AAPL. Joseph Group Capital Management bought a new stake in Apple during the fourth quarter valued at $1,631,000. Cardinal Capital Management Inc. lifted its holdings in Apple by 5,525.0% in the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after acquiring an additional 221 shares during the last quarter. Shore Point Advisors LLC acquired a new stake in Apple in the 4th quarter valued at about $41,000. Emerson Wealth LLC lifted its holdings in Apple by 363.6% in the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after acquiring an additional 320 shares during the last quarter. Finally, Econ Financial Services Corp lifted its holdings in Apple by 29.1% in the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock valued at $74,000 after acquiring an additional 95 shares during the last quarter. Institutional investors and hedge funds own 57.62% of the company’s stock.

Insider Activity

In other news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Apple Stock Down 1.4 %

Shares of Apple stock opened at $161.38 on Tuesday. The stock has a market capitalization of $2.59 trillion, a P/E ratio of 26.63, a PEG ratio of 2.16 and a beta of 1.23. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The stock has a 50 day moving average price of $155.22 and a two-hundred day moving average price of $156.98. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last announced its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The firm had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.30 earnings per share. Equities analysts expect that Apple Inc. will post 6.1 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were given a dividend of $0.23 per share. The ex-dividend date was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.57%. Apple’s payout ratio is currently 15.18%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft set a $175.00 price objective on Apple in a report on Monday, August 1st. JPMorgan Chase & Co. set a $200.00 price objective on Apple in a report on Monday. Oppenheimer restated an “outperform” rating and set a $190.00 price objective on shares of Apple in a report on Wednesday, June 8th. KeyCorp boosted their price objective on Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, August 19th. Finally, Wells Fargo & Company dropped their target price on Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $181.18.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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