Arbor Trust Wealth Advisors LLC Grows Stock Position in Apple Inc. (NASDAQ:AAPL)

Arbor Trust Wealth Advisors LLC grew its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,432 shares of the iPhone maker’s stock after purchasing an additional 223 shares during the period. Apple makes up 4.3% of Arbor Trust Wealth Advisors LLC’s portfolio, making the stock its 5th biggest holding. Arbor Trust Wealth Advisors LLC’s holdings in Apple were worth $9,123,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Liberty One Investment Management LLC grew its holdings in Apple by 5.2% in the 4th quarter. Liberty One Investment Management LLC now owns 23,077 shares of the iPhone maker’s stock worth $5,779,000 after acquiring an additional 1,134 shares during the last quarter. McElhenny Sheffield Capital Management LLC raised its position in shares of Apple by 0.3% in the 4th quarter. McElhenny Sheffield Capital Management LLC now owns 25,168 shares of the iPhone maker’s stock worth $6,303,000 after acquiring an additional 77 shares in the last quarter. Mission Hills Financial Advisory LLC lifted its stake in shares of Apple by 23.3% in the 4th quarter. Mission Hills Financial Advisory LLC now owns 3,963 shares of the iPhone maker’s stock valued at $992,000 after purchasing an additional 748 shares during the period. Oak Ridge Investments LLC boosted its position in shares of Apple by 5.9% during the fourth quarter. Oak Ridge Investments LLC now owns 510,813 shares of the iPhone maker’s stock valued at $127,918,000 after purchasing an additional 28,402 shares in the last quarter. Finally, J2 Capital Management Inc purchased a new stake in Apple in the fourth quarter worth $942,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Trading Down 0.2 %

Shares of Apple stock opened at $235.33 on Friday. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The business has a 50 day moving average price of $237.89 and a 200 day moving average price of $233.94. The company has a market capitalization of $3.54 trillion, a P/E ratio of 37.35, a P/E/G ratio of 2.44 and a beta of 1.20.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Sell-side analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.42%. Apple’s dividend payout ratio is currently 15.87%.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of analyst reports. Morgan Stanley set a $275.00 price target on shares of Apple in a research note on Tuesday, February 11th. Oppenheimer downgraded Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. increased their price objective on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Maxim Group boosted their target price on Apple to $215.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Apple in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $243.88.

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.