Apple Inc. (NASDAQ:AAPL) Shares Sold by Arbor Capital Management Inc. ADV

Arbor Capital Management Inc. ADV decreased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 15.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,561 shares of the iPhone maker's stock after selling 1,791 shares during the period. Apple accounts for 2.3% of Arbor Capital Management Inc. ADV's portfolio, making the stock its 7th largest position. Arbor Capital Management Inc. ADV's holdings in Apple were worth $2,260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in AAPL. State Street Corp grew its holdings in shares of Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock worth $136,074,372,000 after acquiring an additional 55,935,105 shares during the last quarter. FMR LLC lifted its position in shares of Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock worth $84,779,231,000 after buying an additional 18,224,005 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock worth $77,542,863,000 after buying an additional 20,483,787 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Apple by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 98,099,411 shares of the iPhone maker's stock worth $24,566,054,000 after buying an additional 3,156,680 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Apple by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,568,390 shares of the iPhone maker's stock worth $21,335,435,000 after purchasing an additional 1,742,087 shares during the period. Institutional investors own 67.73% of the company's stock.

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 35,493 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the sale, the chief operating officer now directly owns 390,059 shares in the company, valued at approximately $87,377,116.59. This trade represents a 8.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 38,822 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the sale, the senior vice president now owns 179,158 shares of the company's stock, valued at $40,072,269.86. This trade represents a 17.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,507 shares of company stock worth $42,694,080. Insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AAPL shares. Scotiabank lowered Apple to a "market perform" rating in a research note on Friday, May 2nd. Raymond James reduced their target price on Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Jefferies Financial Group reaffirmed an "underperform" rating and set a $170.62 price objective (up previously from $167.88) on shares of Apple in a report on Friday, May 2nd. China Renaissance began coverage on Apple in a report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price objective on the stock. Finally, DA Davidson upped their price objective on Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $235.80.

Apple Stock Up 0.1%

Shares of NASDAQ AAPL traded up $0.21 during mid-day trading on Wednesday, hitting $200.42. The company had a trading volume of 44,115,560 shares, compared to its average volume of 56,207,844. The company has a market capitalization of $2.99 trillion, a PE ratio of 31.81, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. The firm has a 50-day simple moving average of $204.36 and a two-hundred day simple moving average of $225.54. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. 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, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. Apple's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.53 EPS. On average, equities analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a $0.26 dividend. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.52%. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio (DPR) is 16.20%.

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.