Arlington Partners LLC Has $3.22 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Arlington Partners LLC decreased its stake in Apple Inc. (NASDAQ:AAPL) by 4.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,265 shares of the iPhone maker’s stock after selling 712 shares during the period. Arlington Partners LLC’s holdings in Apple were worth $3,215,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bellwether Advisors LLC raised its holdings in shares of Apple by 387.3% in the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after purchasing an additional 19,352 shares during the period. WT Asset Management Ltd acquired a new stake in Apple during the 2nd quarter valued at $80,057,000. Councilmark Asset Management LLC acquired a new position in shares of Apple in the first quarter valued at $11,776,000. Bleakley Financial Group LLC raised its position in shares of Apple by 1.1% in the first quarter. Bleakley Financial Group LLC now owns 617,582 shares of the iPhone maker’s stock valued at $105,903,000 after purchasing an additional 6,567 shares during the period. Finally, CV Advisors LLC lifted its stake in shares of Apple by 17.6% during the 1st quarter. CV Advisors LLC now owns 56,398 shares of the iPhone maker’s stock worth $9,671,000 after buying an additional 8,452 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AAPL. Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and increased their price target for the company from $205.00 to $212.92 in a report on Monday, October 7th. Wedbush reissued an “outperform” rating and set a $285.00 target price on shares of Apple in a report on Monday, September 9th. Citigroup lifted their price objective on Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday. Rosenblatt Securities restated a “buy” rating and set a $261.00 target price on shares of Apple in a research note on Tuesday, September 10th. Finally, Tigress Financial raised their target price on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $235.91.

Apple Stock Up 0.4 %

Apple stock opened at $231.41 on Friday. The company has a market capitalization of $3.55 trillion, a PE ratio of 35.99, a PEG ratio of 2.40 and a beta of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The firm’s fifty day moving average is $226.75 and its 200 day moving average is $209.62. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. The business had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 earnings per share. As a group, sell-side analysts predict that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s payout ratio is currently 15.55%.

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.