Wesbanco Bank Inc. Has $206.94 Million Stake in Apple Inc. (NASDAQ:AAPL)

Wesbanco Bank Inc. lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 5.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 826,361 shares of the iPhone maker’s stock after selling 51,059 shares during the quarter. Apple accounts for 7.1% of Wesbanco Bank Inc.’s holdings, making the stock its biggest holding. Wesbanco Bank Inc.’s holdings in Apple were worth $206,937,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in shares of Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after purchasing an additional 93,886,664 shares during the period. State Street Corp boosted its stake in Apple by 10.6% in the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock valued at $136,074,372,000 after acquiring an additional 55,935,105 shares in the last quarter. Geode Capital Management LLC raised its stake in Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock valued at $77,542,863,000 after buying an additional 20,483,787 shares during the last quarter. FMR LLC grew its position in Apple by 5.3% during the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after purchasing an additional 18,224,005 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Apple by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after acquiring an additional 5,893,741 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Apple in a report on Friday, January 31st. Bank of America raised their price objective on Apple from $253.00 to $265.00 and gave the company a “buy” rating in a report on Friday, January 31st. Barclays increased their price target on Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Loop Capital cut Apple from a “buy” rating to a “hold” rating and set a $230.00 target price for the company. in a report on Tuesday, January 21st. Finally, Raymond James boosted their target price on Apple to $250.00 and gave the stock a “buy” rating in a research note on Monday, January 20th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $243.22.

Insider Activity

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This represents a 20.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

Apple Price Performance

Apple stock opened at $209.68 on Friday. The stock has a market capitalization of $3.15 trillion, a P/E ratio of 33.28, a P/E/G ratio of 2.44 and a beta of 1.18. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a 12-month low of $164.08 and a 12-month high of $260.10. The firm’s 50-day moving average is $235.12 and its two-hundred day moving average is $233.83.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is 15.87%.

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.