12,075 Shares in Apple Inc. (NASDAQ:AAPL) Acquired by Wedgewood Investors Inc. PA

Wedgewood Investors Inc. PA bought a new position in Apple Inc. (NASDAQ:AAPL) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 12,075 shares of the iPhone maker’s stock, valued at approximately $2,543,000. Apple makes up approximately 3.0% of Wedgewood Investors Inc. PA’s investment portfolio, making the stock its 3rd biggest holding.

Other large investors have also recently bought and sold shares of the company. Kestra Private Wealth Services LLC raised its holdings in shares of Apple by 4.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 988,057 shares of the iPhone maker’s stock valued at $190,231,000 after acquiring an additional 38,221 shares in the last quarter. Duff & Phelps Investment Management Co. raised its position in shares of Apple by 4.4% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 81,056 shares of the iPhone maker’s stock valued at $15,606,000 after buying an additional 3,430 shares in the last quarter. Penobscot Investment Management Company Inc. lifted its holdings in shares of Apple by 3.6% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 285,752 shares of the iPhone maker’s stock worth $55,016,000 after acquiring an additional 9,962 shares during the last quarter. Islay Capital Management LLC grew its position in Apple by 0.8% in the fourth quarter. Islay Capital Management LLC now owns 21,527 shares of the iPhone maker’s stock worth $4,145,000 after acquiring an additional 171 shares in the last quarter. Finally, Norden Group LLC increased its stake in Apple by 5.4% in the fourth quarter. Norden Group LLC now owns 54,191 shares of the iPhone maker’s stock valued at $10,434,000 after acquiring an additional 2,777 shares during the last quarter. 60.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AAPL. New Street Research reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, September 25th. TD Cowen increased their price target on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Tigress Financial upped their price target on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Citigroup reaffirmed a “buy” rating and set a $255.00 price objective on shares of Apple in a research note on Tuesday, August 27th. Finally, Raymond James boosted their target price on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $238.76.

Apple Stock Up 2.3 %

NASDAQ:AAPL opened at $233.00 on Tuesday. The firm has a 50-day simple moving average of $222.37 and a two-hundred day simple moving average of $202.80. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The firm has a market cap of $3.57 trillion, a P/E ratio of 36.24, a P/E/G ratio of 2.66 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter in the prior year, the business earned $1.26 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts predict that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s payout ratio is 15.55%.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,884 shares of company stock valued at $23,723,887. 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.