Arcadia Wealth Management LLC Reduces Stock Position in Apple Inc. (NASDAQ:AAPL)

Arcadia Wealth Management LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 7.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,976 shares of the iPhone maker’s stock after selling 231 shares during the quarter. Arcadia Wealth Management LLC’s holdings in Apple were worth $745,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in shares of Apple by 20,372.7% in the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after purchasing an additional 93,886,664 shares in the last quarter. State Street Corp raised its position in shares of Apple by 10.6% during the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares during the last quarter. Geode Capital Management LLC lifted its stake in Apple by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock valued at $77,542,863,000 after buying an additional 20,483,787 shares in the last quarter. FMR LLC grew its holdings in Apple by 5.3% during the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after buying an additional 18,224,005 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Apple by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after buying an additional 5,893,741 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Performance

AAPL opened at $223.85 on Friday. The firm has a market cap of $3.36 trillion, a PE ratio of 35.53, a P/E/G ratio of 2.44 and a beta of 1.18. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The business has a fifty day simple moving average of $230.94 and a 200-day simple moving average of $233.28. Apple Inc. has a fifty-two week low of $164.08 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. As a group, equities analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is currently 15.87%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AAPL. TD Cowen restated a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Maxim Group upped their target price on shares of Apple to $215.00 and gave the company a “hold” rating in a report on Friday, February 21st. Monness Crespi & Hardt lifted their price target on shares of Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Raymond James upped their price objective on shares of Apple to $250.00 and gave the company a “buy” rating in a research note on Monday, January 20th. Finally, Jefferies Financial Group reaffirmed an “underperform” rating on shares of Apple in a research note on Wednesday, February 19th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $243.65.

Apple 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.