Apple Inc. $AAPL Shares Sold by Arbor Trust Wealth Advisors LLC

Arbor Trust Wealth Advisors LLC decreased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,168 shares of the iPhone maker's stock after selling 1,264 shares during the period. Apple makes up 3.7% of Arbor Trust Wealth Advisors LLC's portfolio, making the stock its 6th biggest position. Arbor Trust Wealth Advisors LLC's holdings in Apple were worth $7,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Advanced Portfolio Management LLC increased its position in shares of Apple by 0.3% during the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock valued at $3,260,000 after purchasing an additional 47 shares during the period. Salus Financial Advisors LLC increased its position in shares of Apple by 3.9% during the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock valued at $291,000 after purchasing an additional 49 shares during the period. Scarborough Advisors LLC increased its position in shares of Apple by 0.3% during the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock valued at $3,992,000 after purchasing an additional 51 shares during the period. Disciplined Investments LLC increased its position in shares of Apple by 0.7% during the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock valued at $1,794,000 after purchasing an additional 51 shares during the period. Finally, Redwood Financial Network Corp increased its position in shares of Apple by 0.6% during the 4th quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker's stock valued at $2,184,000 after purchasing an additional 53 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In other Apple 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 value of $7,772,047.20. Following the completion of the sale, the senior vice president owned 136,687 shares of the company's stock, valued at $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on AAPL. Barclays lifted their price target on Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. TD Cowen decreased their target price on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. The Goldman Sachs Group restated a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Wedbush restated an "outperform" rating and issued a $270.00 target price on shares of Apple in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. lifted their target price on Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Two research 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $237.60.

Apple Stock Down 1.8%

AAPL traded down $4.2250 during trading on Wednesday, reaching $226.3350. 21,412,486 shares of the stock traded hands, compared to its average volume of 57,531,371. The stock has a market cap of $3.36 trillion, a price-to-earnings ratio of 34.35, a price-to-earnings-growth ratio of 2.42 and a beta of 1.16. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. 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 stock's 50-day simple moving average is $210.83 and its two-hundred day simple moving average is $213.06.

Apple (NASDAQ:AAPL - Get Free Report) last released 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 firm had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.40 earnings per share. As a group, equities research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its Board of Directors has authorized a share repurchase program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. Apple's payout ratio is currently 15.78%.

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.