Arlington Financial Advisors LLC Sells 1,618 Shares of Apple Inc. $AAPL

Arlington Financial Advisors LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,866 shares of the iPhone maker’s stock after selling 1,618 shares during the quarter. Apple makes up about 3.2% of Arlington Financial Advisors LLC’s portfolio, making the stock its 11th biggest position. Arlington Financial Advisors LLC’s holdings in Apple were worth $19,259,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Cypress Wealth Services LLC increased its holdings in Apple by 1.2% during the second quarter. Cypress Wealth Services LLC now owns 134,494 shares of the iPhone maker’s stock valued at $27,594,000 after buying an additional 1,544 shares during the period. Sagespring Wealth Partners LLC lifted its holdings in Apple by 1.2% during the second quarter. Sagespring Wealth Partners LLC now owns 201,102 shares of the iPhone maker’s stock worth $41,260,000 after buying an additional 2,292 shares during the period. Founders Grove Wealth Partners LLC boosted its position in Apple by 6.4% during the 2nd quarter. Founders Grove Wealth Partners LLC now owns 29,071 shares of the iPhone maker’s stock valued at $5,964,000 after acquiring an additional 1,750 shares in the last quarter. Morningstar Investment Management LLC increased its holdings in shares of Apple by 27.6% in the 2nd quarter. Morningstar Investment Management LLC now owns 296,355 shares of the iPhone maker’s stock valued at $60,803,000 after acquiring an additional 64,177 shares during the period. Finally, Baker Boyer National Bank raised its position in shares of Apple by 0.3% in the 2nd quarter. Baker Boyer National Bank now owns 18,011 shares of the iPhone maker’s stock worth $3,695,000 after acquiring an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Up 2.2%

Apple stock opened at $275.25 on Wednesday. The business’s 50-day simple moving average is $253.91 and its two-hundred day simple moving average is $225.75. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The company has a market cap of $4.07 trillion, a PE ratio of 41.77, a PEG ratio of 2.62 and a beta of 1.08. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $277.32.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.11. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. During the same quarter in the prior year, the company earned $1.64 EPS. Apple’s quarterly revenue was up 8.7% on a year-over-year basis. Equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Monday, November 10th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, November 10th. Apple’s dividend payout ratio is presently 13.92%.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the sale, the senior vice president directly owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Deirdre O’brien sold 43,013 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total value of $11,071,116.07. Following the transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 224,300 shares of company stock valued at $57,586,933 over the last quarter. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AAPL shares. Weiss Ratings raised Apple from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Citigroup reissued a “buy” rating and set a $315.00 price target (up from $245.00) on shares of Apple in a research report on Friday, October 31st. JPMorgan Chase & Co. lifted their price objective on shares of Apple from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Raymond James Financial reiterated 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. Finally, Melius Research set a $345.00 target price on shares of Apple in a research report on Friday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $278.22.

Apple 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.