Arcadia Investment Management Corp MI Has $23.98 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Arcadia Investment Management Corp MI reduced its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 5.1% in the first quarter, HoldingsChannel reports. The firm owned 137,360 shares of the iPhone maker’s stock after selling 7,412 shares during the quarter. Apple makes up 4.5% of Arcadia Investment Management Corp MI’s investment portfolio, making the stock its largest position. Arcadia Investment Management Corp MI’s holdings in Apple were worth $23,984,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Joseph Group Capital Management purchased a new position in shares of Apple during the 4th quarter valued at about $1,631,000. Cardinal Capital Management Inc. lifted its position in shares of Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after buying an additional 221 shares in the last quarter. Shore Point Advisors LLC purchased a new position in shares of Apple during the 4th quarter valued at about $41,000. St. James Investment Advisors LLC purchased a new position in shares of Apple during the 4th quarter valued at about $57,000. Finally, Emerson Wealth LLC lifted its position in shares of Apple by 363.6% during the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after buying an additional 320 shares in the last quarter. 57.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AAPL has been the topic of a number of research analyst reports. Loop Capital lowered their price target on Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. set a $175.00 price target on Apple in a report on Friday, July 29th. KeyCorp boosted their price target on Apple from $173.00 to $177.00 and gave the stock an “overweight” rating in a report on Tuesday. The Goldman Sachs Group set a $139.00 price target on Apple in a report on Friday, July 29th. Finally, Fundamental Research set a $177.07 price target on Apple and gave the stock a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $179.27.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is currently owned by company insiders.

Apple Trading Down 0.1 %

Apple stock opened at $165.35 on Friday. The stock has a 50-day moving average of $146.34 and a two-hundred day moving average of $157.12. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The stock has a market cap of $2.66 trillion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 2.15 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. During the same period last year, the business posted $1.30 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, research analysts anticipate that Apple Inc. will post 6.1 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 15.18%.

Apple announced that its board has approved a stock repurchase program on Thursday, April 28th that authorizes the company to buyback $90.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Apple Profile

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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