Wharton Business Group LLC Has $26.88 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Share on StockTwits

Wharton Business Group LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 17.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,803 shares of the iPhone maker’s stock after selling 28,153 shares during the period. Apple comprises approximately 2.7% of Wharton Business Group LLC’s portfolio, making the stock its 10th biggest holding. Wharton Business Group LLC’s holdings in Apple were worth $26,878,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Fisher Asset Management LLC lifted its stake in Apple by 4.1% in the second quarter. Fisher Asset Management LLC now owns 13,738,592 shares of the iPhone maker’s stock valued at $2,719,142,000 after purchasing an additional 546,597 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its stake in Apple by 4.3% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 10,155,585 shares of the iPhone maker’s stock valued at $1,929,054,000 after purchasing an additional 414,856 shares during the last quarter. Thoroughbred Financial Services LLC lifted its stake in Apple by 19,949.3% in the second quarter. Thoroughbred Financial Services LLC now owns 10,055,128 shares of the iPhone maker’s stock valued at $1,005,513,000 after purchasing an additional 10,004,976 shares during the last quarter. Sanders Capital LLC lifted its stake in Apple by 3.0% in the second quarter. Sanders Capital LLC now owns 8,376,114 shares of the iPhone maker’s stock valued at $1,815,725,000 after purchasing an additional 241,940 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in Apple by 4.0% in the first quarter. Clearbridge Investments LLC now owns 7,652,260 shares of the iPhone maker’s stock valued at $1,453,547,000 after purchasing an additional 295,102 shares during the last quarter. 58.77% of the stock is owned by institutional investors.

Several equities research analysts have issued reports on the company. ValuEngine upgraded Apple from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Nomura increased their target price on Apple from $180.00 to $185.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Loop Capital increased their target price on Apple to $200.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Raymond James upgraded Apple from a “market perform” rating to an “outperform” rating and set a $250.00 target price on the stock in a research report on Thursday, July 18th. Finally, HSBC set a $174.00 target price on Apple and gave the stock a “sell” rating in a research report on Monday, May 20th. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Apple currently has a consensus rating of “Hold” and a consensus price target of $218.18.

Shares of AAPL stock traded down $4.02 on Friday, reaching $219.07. The company’s stock had a trading volume of 1,084,421 shares, compared to its average volume of 24,353,276. The company has a quick ratio of 1.47, a current ratio of 1.50 and a debt-to-equity ratio of 0.88. Apple Inc. has a 12-month low of $142.00 and a 12-month high of $233.47. The company has a market capitalization of $979.31 billion, a P/E ratio of 18.38, a PEG ratio of 1.79 and a beta of 1.24. The stock’s 50 day simple moving average is $207.16 and its 200-day simple moving average is $196.48.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.10 by $0.08. Apple had a return on equity of 52.13% and a net margin of 21.50%. The company had revenue of $53.81 billion for the quarter, compared to the consensus estimate of $53.39 billion. During the same quarter last year, the business posted $2.34 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. Research analysts expect that Apple Inc. will post 11.68 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a $0.77 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.08 dividend on an annualized basis and a yield of 1.41%. Apple’s dividend payout ratio is presently 25.86%.

In related news, Director Arthur D. Levinson sold 17,500 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $214.02, for a total value of $3,745,350.00. Following the transaction, the director now owns 1,150,783 shares of the company’s stock, valued at $246,290,577.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,376 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $217.47, for a total value of $951,648.72. The disclosure for this sale can be found here. In the last three months, insiders sold 304,536 shares of company stock worth $62,894,611. 0.05% of the stock is owned by insiders.

Apple Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

See Also: What does RSI mean?

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.