Apple Inc. $AAPL is Arlington Trust Co LLC’s 6th Largest Position

Arlington Trust Co LLC boosted its stake in Apple Inc. (NASDAQ:AAPL) by 1.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,701 shares of the iPhone maker’s stock after buying an additional 657 shares during the period. Apple accounts for approximately 3.1% of Arlington Trust Co LLC’s portfolio, making the stock its 6th largest position. Arlington Trust Co LLC’s holdings in Apple were worth $14,816,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Tallon Kerry Patrick bought a new position in shares of Apple during the fourth quarter valued at approximately $1,877,000. First National Bank of Hutchinson increased its position in shares of Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after acquiring an additional 6,982 shares in the last quarter. Capital & Planning LLC increased its position in shares of Apple by 10.7% during the fourth quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker’s stock valued at $6,836,000 after acquiring an additional 2,647 shares in the last quarter. Eagle Capital Management LLC increased its position in shares of Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after acquiring an additional 272 shares in the last quarter. Finally, Brighton Jones LLC increased its position in shares of Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after acquiring an additional 69,207 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AAPL has been the topic of several research reports. TD Cowen dropped their target price on shares of Apple from $290.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. JPMorgan Chase & Co. raised their target price on shares of Apple from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Citigroup raised their target price on shares of Apple from $240.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Needham & Company LLC restated a “hold” rating on shares of Apple in a report on Friday, July 25th. Finally, DA Davidson restated a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Friday, August 1st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $237.60.

Insiders Place Their Bets

In other news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares in the company, valued at $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 available through this link. Insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $230.89 on Tuesday. The company has a 50 day moving average price of $210.28 and a 200-day moving average price of $212.94. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The stock has a market capitalization of $3.43 trillion, a PE ratio of 35.04, a PEG ratio of 2.42 and a beta of 1.16. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the previous year, the firm posted $1.40 earnings per share. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued 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 yield of 0.5%. Apple’s payout ratio is presently 15.78%.

Apple announced that its board has initiated a share repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.