Apple Inc. (NASDAQ:AAPL) is Wedmont Private Capital’s 10th Largest Position

Wedmont Private Capital grew its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 13.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,429 shares of the iPhone maker’s stock after purchasing an additional 8,925 shares during the period. Apple makes up 2.3% of Wedmont Private Capital’s portfolio, making the stock its 10th biggest position. Wedmont Private Capital’s holdings in Apple were worth $10,586,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Joseph Group Capital Management purchased a new stake in shares of Apple in the fourth quarter valued at $1,631,000. Cardinal Capital Management Inc. raised its holdings in shares of Apple by 5,525.0% during the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after acquiring an additional 221 shares in the last quarter. Shore Point Advisors LLC purchased a new stake in shares of Apple during the fourth quarter worth $41,000. Spence Asset Management purchased a new stake in shares of Apple during the second quarter worth $49,000. Finally, Emerson Wealth LLC raised its holdings in shares of Apple by 363.6% during the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after acquiring an additional 320 shares in the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AAPL shares. Itau BBA Securities started coverage on Apple in a report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price objective for the company. Monness Crespi & Hardt initiated coverage on Apple in a report on Thursday, September 8th. They set a “buy” rating and a $174.00 price objective for the company. Bank of America lowered their target price on shares of Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. Deutsche Bank Aktiengesellschaft set a $175.00 target price on shares of Apple in a research report on Monday, August 1st. Finally, KeyCorp raised their price target on Apple from $177.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, August 19th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.68.

Insiders Place Their Bets

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

Apple Stock Down 0.6 %

Shares of NASDAQ AAPL opened at $152.74 on Friday. The stock has a market capitalization of $2.45 trillion, a P/E ratio of 25.20, a P/E/G ratio of 2.03 and a beta of 1.23. The company has a 50-day moving average price of $160.31 and a 200-day moving average price of $155.83. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm earned $1.30 earnings per share. On average, equities research analysts forecast that Apple Inc. will post 6.11 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.60%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio is 15.18%.

About Apple

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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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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