Apple Inc. (NASDAQ:AAPL) is Arbor Trust Wealth Advisors LLC’s 3rd Largest Position

Arbor Trust Wealth Advisors LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 4.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,977 shares of the iPhone maker’s stock after selling 2,044 shares during the quarter. Apple makes up 4.3% of Arbor Trust Wealth Advisors LLC’s investment portfolio, making the stock its 3rd largest position. Arbor Trust Wealth Advisors LLC’s holdings in Apple were worth $5,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Apple by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after purchasing an additional 8,734,393 shares during the period. Price T Rowe Associates Inc. MD raised its position in Apple by 2.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 237,910,783 shares of the iPhone maker’s stock valued at $32,527,162,000 after purchasing an additional 4,831,418 shares during the last quarter. Legal & General Group Plc lifted its holdings in Apple by 8.2% in the 2nd quarter. Legal & General Group Plc now owns 123,534,393 shares of the iPhone maker’s stock worth $16,889,649,000 after buying an additional 9,411,018 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Apple by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock worth $14,097,970,000 after buying an additional 1,155,915 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Apple by 12.1% during the second quarter. UBS Asset Management Americas Inc. now owns 80,467,043 shares of the iPhone maker’s stock valued at $11,001,469,000 after buying an additional 8,716,964 shares during the period. 57.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several recent analyst reports. Fundamental Research lifted their price target on shares of Apple to $168.50 and gave the company a “buy” rating in a report on Tuesday, November 8th. Robert W. Baird cut their target price on shares of Apple from $185.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, October 28th. Citigroup reissued a “buy” rating and issued a $175.00 price target on shares of Apple in a research note on Tuesday, November 8th. JPMorgan Chase & Co. set a $180.00 price objective on shares of Apple and gave the stock an “overweight” rating in a report on Thursday. Finally, BNP Paribas downgraded Apple from an “outperform” rating to a “neutral” rating and set a $140.00 target price on the stock. in a report on Tuesday, January 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $170.04.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 20,200 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the completion of the sale, the insider now owns 31,505 shares of the company’s stock, valued at approximately $4,685,423.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Luca Maestri sold 176,299 shares of the firm’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Kondo sold 20,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total value of $3,004,144.00. Following the transaction, the insider now owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $135.27 on Friday. The firm’s 50-day moving average price is $138.95 and its 200-day moving average price is $148.10. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $179.61. The company has a market cap of $2.14 trillion, a PE ratio of 22.14, a PEG ratio of 1.74 and a beta of 1.24. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.95.

Apple (NASDAQ:AAPLGet Rating) last issued its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. The company had revenue of $90.15 billion for the quarter, compared to analysts’ expectations of $88.77 billion. Apple had a net margin of 25.31% and a return on equity of 160.90%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company posted $1.24 earnings per share. As a group, analysts anticipate that Apple Inc. will post 6.19 EPS for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Friday, November 4th. Apple’s dividend payout ratio (DPR) is presently 15.06%.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, 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.

Further Reading

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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