Wedge Capital Management L L P NC Sells 7,940 Shares of Apple Inc. (NASDAQ:AAPL)

Wedge Capital Management L L P NC trimmed its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 2.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 331,767 shares of the iPhone maker’s stock after selling 7,940 shares during the period. Apple comprises approximately 0.7% of Wedge Capital Management L L P NC’s holdings, making the stock its 14th largest holding. Wedge Capital Management L L P NC’s holdings in Apple were worth $45,359,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Qube Research & Technologies Ltd lifted its stake in shares of Apple by 145.8% in the 4th quarter. Qube Research & Technologies Ltd now owns 643,206 shares of the iPhone maker’s stock valued at $114,214,000 after purchasing an additional 381,507 shares during the period. B. Riley Wealth Management Inc. lifted its stake in shares of Apple by 2.3% in the 4th quarter. B. Riley Wealth Management Inc. now owns 366,388 shares of the iPhone maker’s stock valued at $63,470,000 after purchasing an additional 8,166 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Apple by 1.9% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 7,307,032 shares of the iPhone maker’s stock valued at $1,302,113,000 after purchasing an additional 133,277 shares during the period. Vicus Capital acquired a new position in shares of Apple in the 4th quarter valued at $17,149,000. Finally, WINTON GROUP Ltd acquired a new position in shares of Apple in the 4th quarter valued at $5,380,000. 57.72% of the stock is currently owned by institutional investors.

Apple Price Performance

Shares of Apple stock opened at $153.72 on Thursday. The business’s fifty day moving average price is $160.23 and its 200 day moving average price is $155.88. The stock has a market capitalization of $2.47 trillion, a P/E ratio of 25.37, a PEG ratio of 2.00 and a beta of 1.23. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63.

Apple (NASDAQ:AAPLGet Rating) last posted its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. During the same period in the prior year, the company earned $1.30 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. As a group, research analysts anticipate that Apple Inc. will post 6.11 earnings per share for the current year.

Apple Announces Dividend

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

Insider Buying and Selling

In other news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was 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 of the company’s stock, valued at approximately $70,411,823.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the transaction, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 96,735 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft set a $175.00 price target on Apple in a research note on Monday, August 1st. Credit Suisse Group set a $201.00 price target on shares of Apple in a research report on Thursday, September 8th. Oppenheimer reiterated an “outperform” rating and issued a $190.00 price target on shares of Apple in a research report on Wednesday, June 8th. KeyCorp lifted their price target on shares of Apple from $177.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, August 19th. Finally, Citigroup lifted their price target on shares of Apple from $175.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.68.

Apple 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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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