Arbor Trust Wealth Advisors LLC Acquires 223 Shares of Apple Inc. (NASDAQ:AAPL)

Arbor Trust Wealth Advisors LLC boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,432 shares of the iPhone maker’s stock after acquiring an additional 223 shares during the period. Apple comprises about 4.3% of Arbor Trust Wealth Advisors LLC’s investment portfolio, making the stock its 5th biggest holding. Arbor Trust Wealth Advisors LLC’s holdings in Apple were worth $9,123,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AAPL. Liberty One Investment Management LLC boosted its position in Apple by 5.2% during the 4th quarter. Liberty One Investment Management LLC now owns 23,077 shares of the iPhone maker’s stock valued at $5,779,000 after purchasing an additional 1,134 shares during the period. McElhenny Sheffield Capital Management LLC lifted its stake in Apple by 0.3% in the fourth quarter. McElhenny Sheffield Capital Management LLC now owns 25,168 shares of the iPhone maker’s stock valued at $6,303,000 after buying an additional 77 shares during the last quarter. Mission Hills Financial Advisory LLC lifted its stake in Apple by 23.3% in the fourth quarter. Mission Hills Financial Advisory LLC now owns 3,963 shares of the iPhone maker’s stock valued at $992,000 after buying an additional 748 shares during the last quarter. Oak Ridge Investments LLC grew its position in shares of Apple by 5.9% during the fourth quarter. Oak Ridge Investments LLC now owns 510,813 shares of the iPhone maker’s stock worth $127,918,000 after acquiring an additional 28,402 shares during the last quarter. Finally, J2 Capital Management Inc acquired a new stake in shares of Apple in the 4th quarter worth about $942,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AAPL. Citigroup boosted their price objective on Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Maxim Group boosted their price target on Apple to $215.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. Redburn Partners set a $230.00 price objective on shares of Apple in a research note on Friday, January 31st. Wells Fargo & Company increased their target price on shares of Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. upped their target price on Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.88.

Insider Buying and Selling at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

Apple Stock Down 0.2 %

AAPL stock opened at $235.33 on Friday. The company has a market cap of $3.54 trillion, a price-to-earnings ratio of 37.35, a P/E/G ratio of 2.44 and a beta of 1.20. Apple Inc. has a twelve month low of $164.08 and a twelve month high of $260.10. The business has a 50 day moving average price of $237.89 and a two-hundred day moving average price of $233.94. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.42%. Apple’s dividend payout ratio is presently 15.87%.

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.