Apple Inc. $AAPL is Wesbanco Bank Inc.'s Largest Position

Key Points

• Wesbanco Bank Inc. increased its position in Apple Inc. by 6.9% during the 2nd quarter, owning 905,523 shares, making Apple the bank's largest holding.
• Apple recently announced a quarterly dividend of $0.26 per share, translating to an annual yield of 0.4% and a payout ratio of 15.78%.
• Analysts have set a consensus target price of $241.93 for Apple, with a majority rating of "Moderate Buy" based on recent evaluations.

Wesbanco Bank Inc. boosted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 905,523 shares of the iPhone maker's stock after buying an additional 58,411 shares during the period. Apple makes up 5.5% of Wesbanco Bank Inc.'s portfolio, making the stock its largest holding. Wesbanco Bank Inc.'s holdings in Apple were worth $185,786,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Burkett Financial Services LLC lifted its holdings in shares of Apple by 0.6% during the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock worth $3,199,000 after buying an additional 93 shares in the last quarter. Avid Wealth Partners LLC boosted its holdings in Apple by 28.3% in the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock valued at $935,000 after acquiring an additional 930 shares during the last quarter. Bell & Brown Wealth Advisors LLC boosted its holdings in Apple by 0.4% in the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker's stock valued at $13,772,000 after acquiring an additional 240 shares during the last quarter. OneAscent Wealth Management LLC boosted its holdings in Apple by 4.6% in the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock valued at $2,337,000 after acquiring an additional 409 shares during the last quarter. Finally, Andina Capital Management LLC boosted its holdings in Apple by 209.2% in the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker's stock valued at $1,507,000 after acquiring an additional 4,591 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Trading Up 3.2%

Shares of AAPL traded up $7.62 during mid-day trading on Friday, reaching $245.50. 163,435,991 shares of the company's stock traded hands, compared to its average volume of 47,568,860. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market cap of $3.64 trillion, a P/E ratio of 37.25, a P/E/G ratio of 2.47 and a beta of 1.11. The stock's 50-day moving average is $224.35 and its two-hundred day moving average is $212.42. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same quarter in the previous year, the business earned $1.40 earnings per share. Apple's quarterly revenue was up 9.6% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple's payout ratio is presently 15.78%.

Wall Street Analyst Weigh In

AAPL has been the topic of several analyst reports. Loop Capital reduced their target price on Apple from $230.00 to $226.00 and set a "hold" rating on the stock in a report on Thursday, August 21st. Phillip Securities cut shares of Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 target price on the stock. in a research note on Thursday, September 11th. Sanford C. Bernstein started coverage on Apple in a report on Monday. They issued an "outperform" rating and a $290.00 price objective for the company. Moffett Nathanson raised Apple from a "sell" rating to a "neutral" rating and set a $225.00 price objective on the stock in a report on Thursday, September 4th. Finally, Barclays increased their price objective on Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and a consensus price target of $242.74.

Insider Activity at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.06% of the company's stock.

Apple Company Profile

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.