ArborFi Advisors LLC Sells 216 Shares of Apple Inc. $AAPL

ArborFi Advisors LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 11.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,747 shares of the iPhone maker’s stock after selling 216 shares during the period. ArborFi Advisors LLC’s holdings in Apple were worth $388,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Krane Funds Advisors LLC boosted its holdings in shares of Apple by 16.1% in the first quarter. Krane Funds Advisors LLC now owns 10,508 shares of the iPhone maker’s stock worth $2,334,000 after acquiring an additional 1,455 shares during the period. Penobscot Wealth Management boosted its stake in Apple by 0.5% during the first quarter. Penobscot Wealth Management now owns 12,243 shares of the iPhone maker’s stock valued at $2,720,000 after buying an additional 56 shares during the period. Aaron Wealth Advisors LLC boosted its stake in Apple by 1.0% during the first quarter. Aaron Wealth Advisors LLC now owns 106,309 shares of the iPhone maker’s stock valued at $23,614,000 after buying an additional 1,037 shares during the period. FSM Wealth Advisors LLC boosted its stake in Apple by 12.9% during the first quarter. FSM Wealth Advisors LLC now owns 45,617 shares of the iPhone maker’s stock valued at $10,133,000 after buying an additional 5,219 shares during the period. Finally, TLW Wealth Management LLC boosted its stake in Apple by 1.1% during the first quarter. TLW Wealth Management LLC now owns 56,171 shares of the iPhone maker’s stock valued at $12,477,000 after buying an additional 627 shares during the period. 67.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Deirdre O’brien sold 34,821 shares of the company’s stock in a transaction on 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 completion of the transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on AAPL. Raymond James Financial reissued an “outperform” rating and set a $240.00 price objective (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Monness Crespi & Hardt raised their price target on Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 1st. BMO Capital Markets restated a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. Rosenblatt Securities restated a “neutral” rating and set a $217.00 price target on shares of Apple in a research report on Tuesday, July 29th. Finally, DA Davidson restated a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $237.60.

Apple Price Performance

Shares of AAPL opened at $230.89 on Tuesday. The firm has a market cap of $3.43 trillion, a PE ratio of 35.04, a P/E/G ratio of 2.42 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. The firm has a fifty day simple moving average of $210.28 and a two-hundred day simple moving average of $212.94. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.

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. The firm had revenue of $94.04 billion during 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%. Apple’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.40 EPS. On average, equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

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

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors 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 annualized dividend and a yield of 0.5%. Apple’s dividend payout ratio is currently 15.78%.

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.