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

Wedmont Private Capital increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 9.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 250,656 shares of the iPhone maker’s stock after acquiring an additional 21,149 shares during the quarter. Apple comprises approximately 3.1% of Wedmont Private Capital’s investment portfolio, making the stock its 9th largest holding. Wedmont Private Capital’s holdings in Apple were worth $59,368,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in AAPL. Counterweight Ventures LLC boosted its position in Apple by 2.3% during the second quarter. Counterweight Ventures LLC now owns 30,531 shares of the iPhone maker’s stock worth $6,430,000 after purchasing an additional 672 shares in the last quarter. Kerusso Capital Management LLC acquired a new position in Apple in the second quarter valued at $3,907,000. Financial Gravity Asset Management Inc. increased its stake in Apple by 27.4% in the second quarter. Financial Gravity Asset Management Inc. now owns 16,991 shares of the iPhone maker’s stock valued at $3,578,000 after purchasing an additional 3,658 shares during the last quarter. Lynch & Associates IN increased its stake in Apple by 3.1% in the second quarter. Lynch & Associates IN now owns 47,860 shares of the iPhone maker’s stock valued at $10,080,000 after purchasing an additional 1,442 shares during the last quarter. Finally, Caprock Group LLC increased its stake in Apple by 41.5% during the second quarter. Caprock Group LLC now owns 424,428 shares of the iPhone maker’s stock worth $89,393,000 after acquiring an additional 124,488 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Performance

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

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating 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, sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Wedbush restated an “outperform” rating and set a $325.00 price target on shares of Apple in a research note on Thursday, January 23rd. Morgan Stanley lifted their target price on Apple from $273.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Apple in a research report on Friday, January 31st. Moffett Nathanson restated a “sell” rating and set a $188.00 price objective (down previously from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Finally, UBS Group reaffirmed a “neutral” rating and set a $236.00 target price on shares of Apple in a research note on Monday, December 2nd. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $242.52.

Insiders Place Their Bets

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business’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 transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

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.