Arcadia Wealth Management Inc. Invests $1.80 Million in Apple Inc. (NASDAQ:AAPL)

Arcadia Wealth Management Inc. purchased a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,205 shares of the iPhone maker's stock, valued at approximately $1,804,000. Apple accounts for 1.5% of Arcadia Wealth Management Inc.'s investment portfolio, making the stock its 17th biggest position.

A number of other hedge funds also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Apple in the 4th quarter valued at $46,868,648,000. Vanguard Group Inc. increased its holdings in Apple by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after buying an additional 49,168,843 shares during the last quarter. Proficio Capital Partners LLC raised its stake in Apple by 23,555.4% in the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after buying an additional 20,966,232 shares in the last quarter. Northern Trust Corp raised its stake in Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after buying an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Apple by 14.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock worth $26,220,566,000 after buying an additional 13,137,968 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Stock Performance

AAPL traded up $1.26 during trading on Wednesday, reaching $201.56. The company's stock had a trading volume of 39,442,789 shares, compared to its average volume of 53,445,309. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The company's fifty day moving average price is $202.29 and its 200-day moving average price is $220.98. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a market capitalization of $3.01 trillion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 2.25 and a beta of 1.22.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same period last year, the firm earned $1.53 EPS. The company's quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a dividend of $0.26 per share. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, May 12th. Apple's payout ratio is presently 16.20%.

Apple announced that its board has approved 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 purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AAPL. JPMorgan Chase & Co. dropped their price objective on Apple from $270.00 to $245.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Loop Capital dropped their price target on shares of Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Evercore ISI boosted their price objective on shares of Apple to $250.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Wedbush restated an "outperform" rating and issued a $270.00 target price on shares of Apple in a report on Tuesday, June 10th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Apple in a research note on Friday, June 13th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $234.86.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider now owns 15,533 shares in the company, valued at $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the transaction, the chief executive officer now owns 3,280,295 shares in the company, valued at $733,637,976.75. The trade was a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock valued at $42,694,080 in the last ninety days. 0.06% of the stock is currently 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.