Apple Inc. (NASDAQ:AAPL) is Wharton Business Group LLC’s 10th Largest Position

Wharton Business Group LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 17.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 135,803 shares of the iPhone maker’s stock after selling 28,153 shares during the period. Apple accounts for approximately 2.7% of Wharton Business Group LLC’s portfolio, making the stock its 10th largest position. Wharton Business Group LLC’s holdings in Apple were worth $26,878,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of AAPL. Semmax Financial Advisors Inc. purchased a new position in shares of Apple during the fourth quarter valued at approximately $50,000. Avondale Wealth Management lifted its holdings in shares of Apple by 25.4% during the second quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock valued at $63,000 after purchasing an additional 64 shares during the last quarter. NuWave Investment Management LLC increased its position in shares of Apple by 2,245.0% during the second quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock valued at $93,000 after acquiring an additional 449 shares in the last quarter. Horan Securities Inc. increased its position in shares of Apple by 64.2% during the second quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock valued at $112,000 after acquiring an additional 221 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. increased its position in shares of Apple by 339.1% during the second quarter. C M Bidwell & Associates Ltd. now owns 764 shares of the iPhone maker’s stock valued at $151,000 after acquiring an additional 590 shares in the last quarter. Institutional investors and hedge funds own 58.77% of the company’s stock.

In other news, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.17, for a total transaction of $54,668,037.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,376 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $217.47, for a total transaction of $951,648.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 304,536 shares of company stock valued at $62,894,611. Insiders own 0.05% of the company’s stock.

NASDAQ:AAPL traded down $4.02 during trading hours on Friday, reaching $219.07. The company had a trading volume of 1,084,421 shares, compared to its average volume of 24,353,276. The company has a current ratio of 1.50, a quick ratio of 1.47 and a debt-to-equity ratio of 0.88. Apple Inc. has a 52 week low of $142.00 and a 52 week high of $233.47. The firm has a market cap of $979.31 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.79 and a beta of 1.24. The firm’s 50 day moving average price is $207.16 and its 200-day moving average price is $196.48.

Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.08. Apple had a net margin of 21.50% and a return on equity of 52.13%. The business had revenue of $53.81 billion during the quarter, compared to the consensus estimate of $53.39 billion. During the same quarter in the previous year, the firm posted $2.34 EPS. The firm’s revenue was up 1.0% on a year-over-year basis. On average, analysts forecast that Apple Inc. will post 11.68 earnings per share for the current fiscal year.

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

Several brokerages recently weighed in on AAPL. Maxim Group reduced their price target on shares of Apple from $211.00 to $204.00 and set a “hold” rating for the company in a research report on Wednesday. Macquarie set a $210.00 price target on shares of Apple and gave the company a “hold” rating in a research report on Tuesday. Longbow Research reissued a “hold” rating on shares of Apple in a research report on Tuesday. Wedbush reissued an “outperform” rating and set a $245.00 price target on shares of Apple in a research report on Monday. Finally, Daiwa Capital Markets set a $223.00 price target on shares of Apple and gave the company a “buy” rating in a research report on Wednesday, August 7th. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $218.18.

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.

Further Reading: Short Selling – Explanation For Shorting Stocks

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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