Apple Inc. $AAPL Shares Sold by Arcadia Wealth Management Inc.

Arcadia Wealth Management Inc. cut its position in Apple Inc. (NASDAQ:AAPL) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,091 shares of the iPhone maker’s stock after selling 114 shares during the quarter. Apple makes up 1.2% of Arcadia Wealth Management Inc.’s investment portfolio, making the stock its 22nd biggest holding. Arcadia Wealth Management Inc.’s holdings in Apple were worth $1,575,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Conquis Financial LLC acquired a new stake in shares of Apple in the 4th quarter valued at about $63,000. LSV Asset Management purchased a new position in shares of Apple in the 4th quarter valued at approximately $65,000. Elite Financial Inc. purchased a new position in shares of Apple in the 1st quarter valued at approximately $58,000. Pillar Financial Advisors LLC purchased a new position in shares of Apple in the 4th quarter valued at approximately $82,000. Finally, Sellwood Investment Partners LLC purchased a new position in shares of Apple in the 4th quarter valued at approximately $147,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of AAPL stock opened at $239.69 on Monday. The stock has a fifty day moving average price of $219.28 and a 200 day moving average price of $212.40. The stock has a market cap of $3.56 trillion, a PE ratio of 36.37, a P/E/G ratio of 2.50 and a beta of 1.11. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. 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 issued its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (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 analysts’ expectations 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 previous year, the firm posted $1.40 earnings per share. Sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 15.78%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. DA Davidson reiterated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Friday, August 1st. Raymond James Financial reiterated an “outperform” rating and issued a $240.00 target price (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Rosenblatt Securities reiterated a “neutral” rating and issued a $217.00 target price on shares of Apple in a research note on Tuesday, July 29th. Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on Apple from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $239.05.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction 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 trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.06% of the company’s stock.

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.