Wedge Capital Management L L P NC Has $66.13 Million Stake in Apple Inc. (NASDAQ:AAPL)

Wedge Capital Management L L P NC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 17.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 283,813 shares of the iPhone maker’s stock after selling 61,338 shares during the quarter. Apple makes up approximately 1.1% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 3rd biggest holding. Wedge Capital Management L L P NC’s holdings in Apple were worth $66,128,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Granite Investment Partners LLC boosted its stake in Apple by 2.7% in the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after purchasing an additional 7,606 shares in the last quarter. Truist Financial Corp lifted its stake in shares of Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after purchasing an additional 126,210 shares during the period. High Net Worth Advisory Group LLC raised its holdings in Apple by 1.7% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after purchasing an additional 1,066 shares during the period. EP Wealth Advisors LLC lifted its stake in Apple by 5.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock valued at $406,099,000 after buying an additional 95,235 shares in the last quarter. Finally, CHICAGO TRUST Co NA raised its stake in Apple by 15.2% in the 3rd quarter. CHICAGO TRUST Co NA now owns 149,219 shares of the iPhone maker’s stock valued at $34,768,000 after purchasing an additional 19,670 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors.

Insider Transactions at Apple

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value 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 $111,148,695.84. The trade was a 10.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock valued at $92,007,745 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Up 0.1 %

Shares of AAPL stock opened at $243.01 on Thursday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $244.11. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The business’s fifty day moving average price is $229.92 and its 200 day moving average price is $220.90. The firm has a market capitalization of $3.67 trillion, a PE ratio of 39.97, a P/E/G ratio of 2.35 and a beta of 1.23.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results 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 business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the prior year, the company posted $1.46 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, sell-side analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently declared 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. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. Apple’s payout ratio is 16.45%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AAPL. Tigress Financial upped their price objective on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 28th. New Street Research reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Wedbush restated an “outperform” rating and set a $300.00 price target on shares of Apple in a research report on Friday, November 29th. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Needham & Company LLC restated a “buy” rating and issued a $260.00 price objective on shares of Apple in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $235.68.

Apple Company 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.