Arrowroot Family Office LLC Raises Stock Position in Apple Inc. (NASDAQ:AAPL)

Arrowroot Family Office LLC increased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 37.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,305 shares of the iPhone maker's stock after buying an additional 4,970 shares during the period. Apple comprises 2.4% of Arrowroot Family Office LLC's portfolio, making the stock its 9th largest holding. Arrowroot Family Office LLC's holdings in Apple were worth $4,584,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Norges Bank acquired a new position in Apple during the fourth quarter worth approximately $46,868,648,000. Vanguard Group Inc. increased its position in Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after purchasing an additional 49,168,843 shares during the last quarter. Proficio Capital Partners LLC increased its position in Apple by 23,555.4% during the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock worth $5,272,653,000 after purchasing an additional 20,966,232 shares during the last quarter. Northern Trust Corp increased its position in Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. Finally, Demars Financial Group LLC increased its position in Apple by 24,931.3% during the fourth quarter. Demars Financial Group LLC now owns 10,368,233 shares of the iPhone maker's stock worth $2,596,413,000 after purchasing an additional 10,326,812 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Upgrades and Downgrades

AAPL has been the subject of several research analyst reports. Scotiabank lowered shares of Apple to a "market perform" rating in a research report on Friday, May 2nd. UBS Group reiterated a "buy" rating on shares of Apple in a research note on Sunday, June 1st. The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. TD Cowen decreased their price objective on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Barclays decreased their price objective on shares of Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, eleven have issued 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 currently has an average rating of "Moderate Buy" and a consensus price target of $234.86.

Insider Buying and Selling at Apple

In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the sale, the chief operating officer now directly owns 390,059 shares of the company's stock, valued at approximately $87,377,116.59. This represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Katherine L. Adams sold 38,822 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the sale, the senior vice president now directly owns 179,158 shares in the company, 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. Insiders have sold 191,507 shares of company stock worth $42,694,080 in the last ninety days. 0.06% of the stock is owned by insiders.

Apple Stock Down 1.4%

NASDAQ AAPL traded down $2.75 during trading hours on Friday, reaching $196.45. 51,345,532 shares of the company traded hands, compared to its average volume of 54,742,937. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $2.93 trillion, a PE ratio of 31.18, a PEG ratio of 2.44 and a beta of 1.22. The company has a 50 day moving average of $201.76 and a two-hundred day moving average of $223.02.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the prior year, the firm posted $1.53 EPS. The firm's revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio is 16.20%.

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

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.