WealthBridge Investment Counsel Inc. Takes $10.63 Million Position in Apple Inc. (NASDAQ:AAPL)
WealthBridge Investment Counsel Inc. bought a new stake in shares of Apple Inc. (NASDAQ:AAPL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 36,208 shares of the iPhone maker’s stock, valued at approximately $10,632,000. Apple makes up about 6.0% of WealthBridge Investment Counsel Inc.’s holdings, making the stock its 3rd largest position.
Several other large investors have also made changes to their positions in the company. Kanawha Capital Management LLC boosted its holdings in Apple by 2.2% in the second quarter. Kanawha Capital Management LLC now owns 93,192 shares of the iPhone maker’s stock valued at $18,445,000 after purchasing an additional 2,029 shares in the last quarter. Smith Asset Management Group LP increased its holdings in Apple by 2.9% during the 2nd quarter. Smith Asset Management Group LP now owns 546,267 shares of the iPhone maker’s stock worth $108,117,000 after purchasing an additional 15,340 shares in the last quarter. Centaurus Financial Inc. increased its holdings in Apple by 402.3% during the 2nd quarter. Centaurus Financial Inc. now owns 41,779 shares of the iPhone maker’s stock worth $8,269,000 after purchasing an additional 33,461 shares in the last quarter. Unified Trust Company N.A. increased its holdings in Apple by 4.2% during the 2nd quarter. Unified Trust Company N.A. now owns 25,340 shares of the iPhone maker’s stock worth $5,015,000 after purchasing an additional 1,014 shares in the last quarter. Finally, OneAscent Financial Services LLC bought a new position in Apple during the 2nd quarter worth about $3,267,000. Hedge funds and other institutional investors own 60.28% of the company’s stock.
In related news, Director Arthur D. Levinson sold 37,394 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $257.79, for a total value of $9,639,799.26. Following the sale, the director now owns 1,170,677 shares in the company, valued at approximately $301,788,823.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.05% of the company’s stock.
Apple (NASDAQ:AAPL) last posted its earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.84 by $0.19. Apple had a net margin of 21.24% and a return on equity of 53.82%. The company had revenue of $64.04 billion for the quarter, compared to analyst estimates of $62.86 billion. During the same quarter in the prior year, the business posted $2.91 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. As a group, equities analysts anticipate that Apple Inc. will post 13.16 EPS for the current fiscal year.
A number of research firms have issued reports on AAPL. KeyCorp reiterated a “hold” rating on shares of Apple in a report on Thursday, January 23rd. Maxim Group lowered shares of Apple to a “sell” rating and set a $190.00 price objective on the stock. in a report on Wednesday, December 4th. Rosenblatt Securities upped their price objective on shares of Apple from $150.00 to $250.00 and gave the company a “sell” rating in a report on Friday. Barclays upped their price objective on shares of Apple from $224.00 to $236.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, Zacks Investment Research lowered shares of Apple from a “hold” rating to a “sell” rating and set a $248.00 price objective on the stock. in a report on Monday, October 14th. Six analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $283.90.
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.
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