Apple Inc. (NASDAQ:AAPL) is Wedmont Private Capital’s 9th Largest Position

Wedmont Private Capital increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 9.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 250,656 shares of the iPhone maker’s stock after buying an additional 21,149 shares during the period. Apple comprises about 3.1% of Wedmont Private Capital’s holdings, making the stock its 9th biggest position. Wedmont Private Capital’s holdings in Apple were worth $59,368,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. High Net Worth Advisory Group LLC grew its stake in Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after acquiring an additional 1,066 shares in the last quarter. Amara Financial LLC. purchased a new position in Apple in the 3rd quarter worth approximately $288,000. Granite Investment Partners LLC grew 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 buying an additional 7,606 shares in the last quarter. Truist Financial Corp grew its stake in Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after buying an additional 126,210 shares in the last quarter. Finally, Sterling Investment Counsel LLC grew its stake in Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after buying an additional 2,565 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Trading Down 0.1 %

Shares of NASDAQ:AAPL opened at $245.55 on Friday. The business’s 50 day moving average price is $240.47 and its 200-day moving average price is $232.55. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The firm has a market capitalization of $3.69 trillion, a price-to-earnings ratio of 38.98, a price-to-earnings-growth ratio of 2.43 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, equities research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s payout ratio is 15.87%.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Apple in a research note on Friday, January 31st. UBS Group reaffirmed a “neutral” rating and set a $236.00 price target on shares of Apple in a report on Monday, December 2nd. Moffett Nathanson reaffirmed a “sell” rating and set a $188.00 price target (down previously from $202.00) on shares of Apple in a report on Tuesday, January 7th. Oppenheimer downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Finally, Evercore ISI boosted their price target on shares of Apple to $260.00 and gave the stock a “buy” rating in a research report on Thursday. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.52.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

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.