Wedbush Securities Inc. Reduces Position in Apple Inc. (AAPL)

Wedbush Securities Inc. lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.0% in the third quarter, HoldingsChannel.com reports. The fund owned 152,018 shares of the iPhone maker’s stock after selling 4,631 shares during the quarter. Apple comprises 3.0% of Wedbush Securities Inc.’s portfolio, making the stock its 2nd biggest holding. Wedbush Securities Inc.’s holdings in Apple were worth $23,429,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Decatur Capital Management Inc. boosted its holdings in Apple by 9.9% during the 3rd quarter. Decatur Capital Management Inc. now owns 231,329 shares of the iPhone maker’s stock valued at $35,652,000 after acquiring an additional 20,825 shares during the period. Csenge Advisory Group purchased a new stake in shares of Apple in the 3rd quarter worth $5,396,000. Middleton & Co Inc MA lifted its holdings in shares of Apple by 21.0% in the 3rd quarter. Middleton & Co Inc MA now owns 128,013 shares of the iPhone maker’s stock worth $19,729,000 after buying an additional 22,207 shares during the period. Concorde Asset Management LLC lifted its holdings in shares of Apple by 64.4% in the 3rd quarter. Concorde Asset Management LLC now owns 6,862 shares of the iPhone maker’s stock worth $1,058,000 after buying an additional 2,689 shares during the period. Finally, Savant Capital LLC lifted its holdings in shares of Apple by 1.7% in the 3rd quarter. Savant Capital LLC now owns 43,369 shares of the iPhone maker’s stock worth $6,684,000 after buying an additional 717 shares during the period. Institutional investors own 60.26% of the company’s stock.

Apple Inc. (NASDAQ:AAPL) opened at $171.51 on Monday. Apple Inc. has a 1 year low of $120.62 and a 1 year high of $180.10. The stock has a market capitalization of $872,480.88, a PE ratio of 18.64, a P/E/G ratio of 1.39 and a beta of 1.21. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.20. Apple had a return on equity of 36.29% and a net margin of 21.09%. The company had revenue of $52.58 billion for the quarter, compared to analyst estimates of $50.71 billion. During the same period in the prior year, the company posted $1.50 EPS. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. equities analysts predict that Apple Inc. will post 11.17 earnings per share for the current fiscal year.

Several brokerages have weighed in on AAPL. Mizuho reiterated a “neutral” rating and issued a $175.00 target price (up from $160.00) on shares of Apple in a report on Friday, January 19th. Zacks Investment Research cut Apple from a “buy” rating to a “hold” rating in a report on Friday, January 19th. Barclays set a $174.00 target price on Apple and gave the stock a “neutral” rating in a report on Thursday, January 18th. Bank of America cut Apple from a “buy” rating to a “neutral” rating and upped their target price for the stock from $180.00 to $220.00 in a report on Wednesday, January 17th. Finally, Atlantic Securities cut Apple from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $177.35 to $190.00 in a report on Monday, January 22nd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirty-six have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $200.70.

In other news, SVP Johny Srouji sold 5,760 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $174.40, for a total value of $1,004,544.00. Following the transaction, the senior vice president now directly owns 81,560 shares of the company’s stock, valued at $14,224,064. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel J. Riccio sold 15,641 shares of the stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $169.69, for a total value of $2,654,121.29. Following the completion of the transaction, the insider now directly owns 17,341 shares in the company, valued at $2,942,594.29. The disclosure for this sale can be found here. Insiders have sold a total of 128,412 shares of company stock worth $22,115,155 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

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Apple Company Profile

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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