Wedgewood Investors Inc. PA Invests $2.54 Million in Apple Inc. (NASDAQ:AAPL)

Wedgewood Investors Inc. PA acquired a new stake in Apple Inc. (NASDAQ:AAPL) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 12,075 shares of the iPhone maker’s stock, valued at approximately $2,543,000. Apple accounts for about 3.0% of Wedgewood Investors Inc. PA’s investment portfolio, making the stock its 3rd biggest holding.

A number of other large investors have also bought and sold shares of the business. Christopher J. Hasenberg Inc bought a new position in shares of Apple during the first quarter worth about $35,000. Fidelis Capital Partners LLC lifted its stake in Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after acquiring an additional 31,278 shares in the last quarter. A.P. Gilfoyle & Co. L.P. acquired a new position in Apple during the 4th quarter worth approximately $39,000. University of Texas Texas AM Investment Managment Co. grew its stake in shares of Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after acquiring an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. acquired a new stake in shares of Apple in the fourth quarter valued at approximately $85,000. 60.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Citigroup reissued a “buy” rating and issued a $255.00 price objective on shares of Apple in a report on Tuesday, August 27th. Moffett Nathanson assumed coverage on Apple in a research note on Monday, August 19th. They issued a “neutral” rating and a $211.00 price objective on the stock. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $265.00 target price on shares of Apple in a research note on Tuesday, September 10th. Finally, UBS Group boosted their target price on Apple from $190.00 to $236.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $238.76.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The disclosure for this sale can be found here. Insiders sold a total of 113,884 shares of company stock valued at $23,723,887 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $233.00 on Tuesday. The firm has a market capitalization of $3.57 trillion, a P/E ratio of 36.24, a P/E/G ratio of 2.66 and a beta of 1.24. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23. The company has a fifty day moving average of $222.37 and a 200-day moving average of $202.80. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.06. The firm had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.26 earnings per share. As a group, sell-side analysts anticipate that Apple Inc. will post 6.7 EPS for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio (DPR) is 15.55%.

About Apple

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.