Arcadia Wealth Management LLC Has $549,000 Position in Apple Inc. $AAPL

Arcadia Wealth Management LLC lessened its position in Apple Inc. (NASDAQ:AAPL) by 18.8% in the second quarter, Holdings Channel.com reports. The firm owned 2,675 shares of the iPhone maker’s stock after selling 621 shares during the quarter. Arcadia Wealth Management LLC’s holdings in Apple were worth $549,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AAPL. Kingstone Capital Partners Texas LLC increased its stake in shares of Apple by 573,627.2% in the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock valued at $39,065,374,000 after buying an additional 205,656,808 shares during the period. Nuveen LLC acquired a new stake in shares of Apple in the first quarter valued at about $17,472,482,000. GAMMA Investing LLC increased its stake in shares of Apple by 25,934.1% in the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock valued at $133,425,490,000 after buying an additional 59,835,676 shares during the period. Northern Trust Corp increased its stake in shares of Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after buying an additional 20,079,472 shares during the period. Finally, Amundi increased its stake in shares of Apple by 27.4% in the first quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock valued at $13,870,795,000 after buying an additional 14,651,321 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $252.29 on Monday. The company has a market cap of $3.74 trillion, a PE ratio of 38.28, a price-to-earnings-growth ratio of 2.46 and a beta of 1.09. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The business has a 50 day moving average price of $241.13 and a 200-day moving average price of $216.91. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.40 earnings per share. Equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio (DPR) is presently 15.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Apple in a research note on Wednesday, October 8th. Melius Research set a $290.00 target price on Apple and gave the company a “buy” rating in a research report on Wednesday, September 10th. BMO Capital Markets restated a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price on the stock in a research report on Thursday, September 4th. Finally, Loop Capital cut their target price on Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a research report on Thursday, August 21st. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $248.29.

Insiders Place Their Bets

In related news, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the sale, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the sale, the senior vice president directly owned 179,158 shares of the company’s stock, valued at $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 259,121 shares of company stock valued at $65,358,981. 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.