Arcadia Investment Management Corp MI Sells 7,611 Shares of Apple Inc. $AAPL

Arcadia Investment Management Corp MI decreased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,542 shares of the iPhone maker's stock after selling 7,611 shares during the quarter. Apple makes up about 4.5% of Arcadia Investment Management Corp MI's investment portfolio, making the stock its 2nd largest position. Arcadia Investment Management Corp MI's holdings in Apple were worth $24,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the business. Advanced Portfolio Management LLC boosted its position in shares of Apple by 0.3% during the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after buying an additional 47 shares during the period. Salus Financial Advisors LLC grew its stake in Apple by 3.9% in the first 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 in the last quarter. Disciplined Investments LLC grew its stake in Apple by 0.7% in the fourth 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 in the last quarter. Redwood Financial Network Corp grew its stake in Apple by 0.6% in the fourth 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 in the last quarter. Finally, Mission Hills Financial Advisory LLC grew its stake in Apple by 1.3% in the first quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker's stock valued at $892,000 after purchasing an additional 53 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Morgan Stanley raised their price target on Apple from $235.00 to $240.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Raymond James Financial restated an "outperform" rating and issued a $240.00 price target (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Barclays raised their price target on Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research note on Friday, August 1st. Needham & Company LLC restated a "hold" rating on shares of Apple in a research note on Friday, July 25th. Finally, Evercore ISI restated an "outperform" rating and issued a $250.00 price target on shares of Apple in a research note on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $237.01.

Apple Price Performance

Shares of NASDAQ AAPL opened at $229.31 on Wednesday. The firm has a market cap of $3.40 trillion, a P/E ratio of 34.80, a price-to-earnings-growth ratio of 2.37 and a beta of 1.16. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The business's 50 day moving average is $213.77 and its 200-day moving average is $212.93.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion for 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 firm's quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.40 earnings per share. Equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. Apple's dividend payout ratio (DPR) is 15.78%.

Apple declared that its Board of Directors has authorized a share buyback program on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.06% of the company's stock.

About Apple

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.

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