Apple Inc. (NASDAQ:AAPL) is Arcadia Investment Management Corp MI’s 4th Largest Position

Arcadia Investment Management Corp MI lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 118,512 shares of the iPhone maker’s stock after selling 1,498 shares during the quarter. Apple comprises approximately 4.3% of Arcadia Investment Management Corp MI’s portfolio, making the stock its 4th largest position. Arcadia Investment Management Corp MI’s holdings in Apple were worth $24,961,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Lantz Financial LLC lifted its holdings in shares of Apple by 6.3% in the 1st quarter. Lantz Financial LLC now owns 27,390 shares of the iPhone maker’s stock worth $4,697,000 after acquiring an additional 1,615 shares during the last quarter. Compass Financial Group INC SD grew its stake in shares of Apple by 3.8% in the first quarter. Compass Financial Group INC SD now owns 14,893 shares of the iPhone maker’s stock valued at $2,554,000 after buying an additional 543 shares in the last quarter. Legacy Financial Strategies LLC grew its stake in shares of Apple by 2.3% in the first quarter. Legacy Financial Strategies LLC now owns 28,751 shares of the iPhone maker’s stock valued at $4,930,000 after buying an additional 649 shares in the last quarter. American National Bank raised its holdings in shares of Apple by 14.1% in the 1st quarter. American National Bank now owns 192,245 shares of the iPhone maker’s stock valued at $32,966,000 after buying an additional 23,827 shares during the period. Finally, BCS Wealth Management lifted its stake in Apple by 21.8% during the 1st quarter. BCS Wealth Management now owns 35,178 shares of the iPhone maker’s stock worth $6,032,000 after acquiring an additional 6,285 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

Shares of AAPL opened at $236.48 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The stock’s 50 day moving average is $226.16 and its two-hundred day moving average is $208.86. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The firm has a market capitalization of $3.63 trillion, a PE ratio of 36.78, a P/E/G ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same period last year, the firm earned $1.26 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Research analysts anticipate that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 0.42%. Apple’s payout ratio is currently 15.55%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AAPL. Morgan Stanley reiterated an “overweight” rating and set a $273.00 price target on shares of Apple in a research note on Tuesday, September 10th. Rosenblatt Securities reaffirmed a “buy” rating and set a $261.00 target price on shares of Apple in a research note on Tuesday, September 10th. Barclays reissued an “underweight” rating and issued a $186.00 price target on shares of Apple in a research report on Tuesday, October 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price objective on shares of Apple in a research report on Thursday, September 19th. Finally, Loop Capital increased their price target on Apple to $300.00 and gave the company a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $239.27.

Insider Transactions at Apple

In related news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock valued at $114,786,399 in the last ninety days. 0.06% of the stock is currently owned by company insiders.

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.