Apple Inc. (NASDAQ:AAPL) is Arkadios Wealth Advisors’ Largest Position

Arkadios Wealth Advisors increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 257,259 shares of the iPhone maker’s stock after buying an additional 598 shares during the period. Apple comprises approximately 3.7% of Arkadios Wealth Advisors’ investment portfolio, making the stock its largest holding. Arkadios Wealth Advisors’ holdings in Apple were worth $54,184,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Brown Financial Advisory grew its position in Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after acquiring an additional 50 shares in the last quarter. Core Wealth Management Inc. lifted its position in shares of Apple by 1.7% during the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after purchasing an additional 50 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. boosted its stake in shares of Apple by 1.1% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock valued at $949,000 after purchasing an additional 51 shares during the period. Foresight Capital Management Advisors Inc. boosted its stake in shares of Apple by 0.3% in the second quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock valued at $4,003,000 after purchasing an additional 55 shares during the period. Finally, Altus Wealth Management LLC increased its stake in Apple by 0.6% during the 2nd quarter. Altus Wealth Management LLC now owns 9,508 shares of the iPhone maker’s stock worth $2,002,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the sale, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 458,619 shares of company stock worth $101,352,630. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on AAPL. Loop Capital raised shares of Apple from a “hold” rating to a “buy” rating and raised their price target for the company from $170.00 to $300.00 in a research report on Monday, July 15th. Melius Research reissued a “buy” rating and set a $265.00 target price on shares of Apple in a research note on Tuesday, August 27th. Cfra boosted their target price on Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Erste Group Bank upgraded Apple from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Finally, Wedbush restated an “outperform” rating and set a $285.00 target price on shares of Apple in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $238.76.

Apple Stock Up 0.5 %

AAPL stock opened at $226.80 on Friday. The company has a market cap of $3.48 trillion, a price-to-earnings ratio of 35.27, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. The company has a fifty day moving average price of $222.90 and a 200 day moving average price of $204.06. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same period in the prior year, the company earned $1.26 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. Sell-side analysts expect that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s payout ratio is 15.55%.

About Apple

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.