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:AAPLGet 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:AAPLGet 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

(Get Rating)

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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