Arkadios Wealth Advisors Has $83.98 Million Holdings in Apple Inc. $AAPL

Key Points

• Arkadios Wealth Advisors increased its stake in Apple Inc. by 33.9% during the first quarter, acquiring an additional 95,796 shares, making Apple the largest position in its portfolio.
• Several other institutional investors have also ramped up their stakes in Apple, with Tredje AP fonden and others increasing their holdings, reflecting a strong interest among institutional investors.
• Analyst ratings for Apple are generally positive, with a consensus rating of "Moderate Buy" and a consensus price target of $239.05, indicating continued confidence in the company's stock performance.

Arkadios Wealth Advisors increased its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 33.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 378,086 shares of the iPhone maker's stock after buying an additional 95,796 shares during the period. Apple accounts for about 3.2% of Arkadios Wealth Advisors' portfolio, making the stock its largest holding. Arkadios Wealth Advisors' holdings in Apple were worth $83,984,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of AAPL. Norges Bank bought a new stake in shares of Apple during the 4th quarter worth about $46,868,648,000. GAMMA Investing LLC boosted its holdings in shares of Apple by 25,934.1% during the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock worth $133,425,490,000 after buying an additional 59,835,676 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Apple by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after buying an additional 49,168,843 shares during the period. Proficio Capital Partners LLC boosted its holdings in shares of Apple by 23,555.4% during the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock worth $5,272,653,000 after buying an additional 20,966,232 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after buying an additional 20,079,472 shares during the period. Institutional investors own 67.73% of the company's stock.

Wall Street Analyst Weigh In

AAPL has been the subject of several research analyst reports. Monness Crespi & Hardt lifted their target price on shares of Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 1st. DA Davidson reaffirmed a "buy" rating and set a $250.00 target price on shares of Apple in a report on Friday, August 1st. JPMorgan Chase & Co. lifted their price objective on shares of Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Evercore ISI restated an "outperform" rating and set a $250.00 target price on shares of Apple in a research report on Wednesday, August 13th. Finally, UBS Group raised their target price on shares of Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $239.05.

Apple Price Performance

Shares of Apple stock traded down $0.09 on Friday, reaching $239.69. 54,829,143 shares of the stock were exchanged, compared to its average volume of 47,688,568. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a market cap of $3.56 trillion, a PE ratio of 36.37, a P/E/G ratio of 2.50 and a beta of 1.11. The firm's 50 day moving average is $219.28 and its 200-day moving average is $212.64. Apple Inc. has a one year low of $169.21 and a one year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm's quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted $1.40 earnings per share. As a group, analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple's dividend payout ratio (DPR) is 15.78%.

Insider Transactions at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares of the company's stock, valued at $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is owned by company insiders.

Apple Company 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.