Arcadia Investment Management Corp MI Sells 7,412 Shares of Apple Inc. (NASDAQ:AAPL)

Arcadia Investment Management Corp MI lessened its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 5.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 137,360 shares of the iPhone maker’s stock after selling 7,412 shares during the period. Apple accounts for about 4.5% of Arcadia Investment Management Corp MI’s portfolio, making the stock its largest position. Arcadia Investment Management Corp MI’s holdings in Apple were worth $23,984,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. ShankerValleau Wealth Advisors Inc. purchased a new stake in Apple during the fourth quarter valued at about $322,000. Private Advisory Group LLC lifted its holdings in shares of Apple by 6.6% in the fourth quarter. Private Advisory Group LLC now owns 188,407 shares of the iPhone maker’s stock worth $33,455,000 after buying an additional 11,594 shares in the last quarter. Bernardo Wealth Planning LLC lifted its holdings in shares of Apple by 11.2% in the fourth quarter. Bernardo Wealth Planning LLC now owns 38,061 shares of the iPhone maker’s stock worth $6,758,000 after buying an additional 3,848 shares in the last quarter. State of Michigan Retirement System lifted its holdings in shares of Apple by 1.0% in the fourth quarter. State of Michigan Retirement System now owns 4,797,394 shares of the iPhone maker’s stock worth $851,873,000 after buying an additional 45,240 shares in the last quarter. Finally, Bordeaux Wealth Advisors LLC lifted its holdings in shares of Apple by 20.4% in the fourth quarter. Bordeaux Wealth Advisors LLC now owns 133,332 shares of the iPhone maker’s stock worth $23,676,000 after buying an additional 22,572 shares in the last quarter. Institutional investors and hedge funds own 57.98% of the company’s stock.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the transaction, the senior vice president now directly owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $165.35 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $2.66 trillion, a price-to-earnings ratio of 27.29, a PEG ratio of 2.15 and a beta of 1.23. The stock has a fifty day moving average of $146.34 and a 200 day moving average of $157.12. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94.

Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. The business had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.30 earnings per share. As a group, research analysts expect that Apple Inc. will post 6.1 earnings per share for the current year.

Apple declared that its Board of Directors has authorized a stock repurchase plan on Thursday, April 28th that authorizes the company to buyback $90.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.56%. The ex-dividend date is Friday, August 5th. Apple’s dividend payout ratio is currently 15.18%.

Analysts Set New Price Targets

Several research firms recently weighed in on AAPL. Itau BBA Securities began coverage on shares of Apple in a research report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective on the stock. Fundamental Research set a $177.07 price objective on shares of Apple and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. set a $200.00 price objective on shares of Apple in a research report on Monday, July 25th. Evercore ISI increased their price target on shares of Apple from $180.00 to $185.00 in a research report on Friday, July 29th. Finally, UBS Group set a $185.00 price target on shares of Apple in a research report on Thursday, July 21st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $179.27.

Apple Company Profile

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.