Apple Inc. (NASDAQ:AAPL) Shares Bought by Wallace Capital Management Inc.

Wallace Capital Management Inc. grew its holdings in Apple Inc. (NASDAQ:AAPL) by 3.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 12,388 shares of the iPhone maker’s stock after buying an additional 367 shares during the period. Apple makes up 0.4% of Wallace Capital Management Inc.’s holdings, making the stock its 23rd biggest holding. Wallace Capital Management Inc.’s holdings in Apple were worth $2,886,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AAPL. International Assets Investment Management LLC boosted its stake in Apple by 20,372.7% in the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after purchasing an additional 93,886,664 shares in the last quarter. State Street Corp raised its holdings in shares of Apple by 10.6% in the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after buying an additional 55,935,105 shares during the last quarter. FMR LLC lifted its stake in shares of Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after buying an additional 18,224,005 shares during the period. Strategic Financial Concepts LLC grew its holdings in shares of Apple by 14,145.8% during the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after buying an additional 7,558,826 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Apple by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock valued at $22,121,656,000 after acquiring an additional 5,893,741 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $227.65 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The company has a market cap of $3.42 trillion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. The stock’s 50 day simple moving average is $241.26 and its 200-day simple moving average is $231.13.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share 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%. As a group, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Investors of record on Monday, February 10th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio is presently 15.87%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. TD Cowen reaffirmed a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Argus raised Apple to a “strong-buy” rating in a report on Friday, January 31st. Morgan Stanley increased their price target on shares of Apple from $273.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Bank of America lifted their price objective on shares of Apple from $253.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Maxim Group increased their price objective on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $242.52.

Insider Buying and Selling at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

About Apple

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.