WealthBridge Capital Management LLC Lowers Stake in Apple Inc. (NASDAQ:AAPL)

WealthBridge Capital Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,741 shares of the iPhone maker’s stock after selling 317 shares during the quarter. Apple accounts for approximately 3.7% of WealthBridge Capital Management LLC’s holdings, making the stock its 5th largest position. WealthBridge Capital Management LLC’s holdings in Apple were worth $12,988,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Apple by 34.9% during the third quarter. GAMMA Investing LLC now owns 200,214 shares of the iPhone maker’s stock valued at $46,650,000 after purchasing an additional 51,842 shares in the last quarter. First International Bank & Trust lifted its stake in Apple by 8.0% in the third quarter. First International Bank & Trust now owns 6,215 shares of the iPhone maker’s stock worth $1,448,000 after purchasing an additional 458 shares during the last quarter. waypoint wealth counsel lifted its stake in Apple by 4.7% in the third quarter. waypoint wealth counsel now owns 29,507 shares of the iPhone maker’s stock worth $6,875,000 after purchasing an additional 1,317 shares during the last quarter. Wright Investors Service Inc. lifted its stake in Apple by 7.2% in the third quarter. Wright Investors Service Inc. now owns 87,347 shares of the iPhone maker’s stock worth $20,352,000 after purchasing an additional 5,841 shares during the last quarter. Finally, Quent Capital LLC raised its stake in shares of Apple by 6.6% during the third quarter. Quent Capital LLC now owns 137,845 shares of the iPhone maker’s stock valued at $32,042,000 after acquiring an additional 8,483 shares in the last quarter. 60.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Tigress Financial lifted their price objective on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. Rosenblatt Securities boosted their target price on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a research report on Friday, October 25th. Monness Crespi & Hardt reissued a “buy” rating and set a $245.00 target price on shares of Apple in a research note on Monday, September 9th. Finally, StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.25.

Insider Activity

In related news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares in the company, valued at approximately $111,148,695.84. This trade represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

AAPL opened at $228.44 on Friday. The stock has a market capitalization of $3.45 trillion, a P/E ratio of 37.57, a PEG ratio of 2.24 and a beta of 1.24. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The stock has a 50-day moving average price of $227.59 and a 200-day moving average price of $217.47. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period in the previous year, the business earned $1.46 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is 16.45%.

Apple 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.