Apple Inc. $AAPL is Arbor Capital Management Inc. ADV's 5th Largest Position

Arbor Capital Management Inc. ADV boosted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 14.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,974 shares of the iPhone maker's stock after acquiring an additional 1,413 shares during the period. Apple accounts for 2.4% of Arbor Capital Management Inc. ADV's investment portfolio, making the stock its 5th largest holding. Arbor Capital Management Inc. ADV's holdings in Apple were worth $2,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Burkett Financial Services LLC raised its position in shares of Apple by 0.6% in the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock worth $3,199,000 after acquiring an additional 93 shares in the last quarter. Avid Wealth Partners LLC boosted its holdings in shares of Apple by 28.3% during the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock worth $935,000 after buying an additional 930 shares in the last quarter. OneAscent Wealth Management LLC boosted its holdings in shares of Apple by 4.6% during the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after buying an additional 409 shares in the last quarter. TruWealth Advisors LLC boosted its holdings in shares of Apple by 2.8% during the 1st quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock worth $42,045,000 after buying an additional 5,120 shares in the last quarter. Finally, Allstate Corp boosted its holdings in shares of Apple by 3,368.2% during the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock worth $113,062,000 after buying an additional 438,471 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Activity at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the transaction, the senior vice president owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company's stock.

Apple Price Performance

AAPL stock traded down $4.2250 during mid-day trading on Wednesday, reaching $226.3350. 21,412,486 shares of the company traded hands, compared to its average volume of 57,531,371. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The company has a market capitalization of $3.36 trillion, a P/E ratio of 34.35, a P/E/G ratio of 2.42 and a beta of 1.16. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a fifty day moving average price of $210.83 and a 200-day moving average price of $213.06.

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

Apple declared that its Board of Directors has approved a stock buyback program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. Apple's payout ratio is presently 15.78%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AAPL. Morgan Stanley increased their price target on Apple from $235.00 to $240.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a report on Friday, July 25th. Wedbush reissued an "outperform" rating and issued a $270.00 price target on shares of Apple in a research report on Thursday, August 7th. Citigroup raised their price objective on Apple from $240.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Scotiabank cut Apple to a "market perform" rating in a research note on Friday, May 2nd. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $237.60.

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.