Apple Inc. (NASDAQ:AAPL) is Arbor Trust Wealth Advisors LLC’s 3rd Largest Position

Arbor Trust Wealth Advisors LLC lessened its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 4.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 40,977 shares of the iPhone maker’s stock after selling 2,044 shares during the quarter. Apple accounts for approximately 4.3% of Arbor Trust Wealth Advisors LLC’s holdings, making the stock its 3rd largest position. Arbor Trust Wealth Advisors LLC’s holdings in Apple were worth $5,660,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bluestem Financial Advisors LLC raised its holdings in shares of Apple by 5,935.2% during the 2nd quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock worth $35,000 after acquiring an additional 229,929 shares in the last quarter. HBC Financial Services PLLC increased its position in Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares during the last quarter. Ramsey Quantitative Systems purchased a new stake in Apple during the second quarter valued at $55,000. Morgan Dempsey Capital Management LLC bought a new position in Apple during the third quarter valued at $55,000. Finally, Newfound Research LLC purchased a new position in shares of Apple in the 3rd quarter worth $67,000. Institutional investors own 57.60% of the company’s stock.

Apple Trading Up 0.0 %

Shares of NASDAQ AAPL opened at $135.27 on Friday. The stock has a market capitalization of $2.14 trillion, a P/E ratio of 22.14, a price-to-earnings-growth ratio of 1.74 and a beta of 1.24. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85. The business has a fifty day moving average price of $138.95 and a 200 day moving average price of $148.10. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $179.61.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. The firm had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. Apple had a net margin of 25.31% and a return on equity of 160.90%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.24 EPS. Equities research analysts expect that Apple Inc. will post 6.19 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Monday, November 7th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.92 annualized dividend and a dividend yield of 0.68%. Apple’s dividend payout ratio is presently 15.06%.

Wall Street Analyst Weigh In

AAPL has been the topic of several recent research reports. Sanford C. Bernstein decreased their target price on shares of Apple from $170.00 to $125.00 in a research report on Monday, January 9th. JPMorgan Chase & Co. set a $180.00 price objective on Apple and gave the company an “overweight” rating in a research report on Thursday. KeyCorp reiterated a “buy” rating and issued a $175.00 target price on shares of Apple in a report on Tuesday, November 8th. Canaccord Genuity Group decreased their price target on Apple from $200.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Morgan Stanley dropped their price objective on shares of Apple from $177.00 to $175.00 and set an “overweight” rating for the company in a research note on Tuesday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $170.04.

Insider Transactions at Apple

In related news, CFO Luca Maestri sold 176,299 shares of the company’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Chris Kondo sold 20,200 shares of the business’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the sale, the insider now directly owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Luca Maestri sold 176,299 shares of the company’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $155.95, for a total value of $27,493,829.05. Following the completion of the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at $17,259,454.35. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Profile

(Get Rating)

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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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