Legend Financial Advisors Inc. Sells 79 Shares of Apple Inc. (NASDAQ:AAPL)

Legend Financial Advisors Inc. decreased its position in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 0.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,541 shares of the iPhone maker’s stock after selling 79 shares during the quarter. Apple accounts for 1.1% of Legend Financial Advisors Inc.’s portfolio, making the stock its 15th largest position. Legend Financial Advisors Inc.’s holdings in Apple were worth $1,465,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of Apple during the fourth quarter valued at approximately $33,912,466,000. International Assets Investment Management LLC increased its position in shares of Apple by 14,395.4% during the 4th quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock valued at $136,119,470,000 after purchasing an additional 70,212,651 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Apple by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock worth $253,766,929,000 after purchasing an additional 18,067,216 shares during the period. Global Assets Advisory LLC grew its position in Apple by 23,076.4% during the first quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock valued at $1,584,512,000 after buying an additional 9,200,345 shares during the period. Finally, Cerity Partners LLC increased its holdings in Apple by 130.1% during the fourth quarter. Cerity Partners LLC now owns 9,430,190 shares of the iPhone maker’s stock valued at $1,815,594,000 after buying an additional 5,331,439 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,999 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the sale, the insider now directly owns 29,278 shares in the company, valued at $5,574,531.20. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the transaction, the insider now directly owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Luca Maestri sold 53,194 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $174.12, for a total value of $9,262,139.28. Following the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $18,768,046.56. The disclosure for this sale can be found here. Insiders sold a total of 192,355 shares of company stock valued at $34,771,329 over the last 90 days. Insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of Apple stock opened at $227.82 on Tuesday. The stock has a market cap of $3.49 trillion, a price-to-earnings ratio of 35.43, a price-to-earnings-growth ratio of 2.75 and a beta of 1.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. The stock has a 50 day moving average price of $198.52 and a 200-day moving average price of $186.41. Apple Inc. has a one year low of $164.07 and a one year high of $227.85.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The company had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. During the same period in the previous year, the firm earned $1.52 earnings per share. Apple’s quarterly revenue was down 4.3% compared to the same quarter last year. Equities analysts expect that Apple Inc. will post 6.59 EPS for the current year.

Apple declared that its Board of Directors has authorized a stock buyback program on Thursday, May 2nd that allows the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were given a $0.25 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Friday, May 10th. Apple’s dividend payout ratio is 15.55%.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of recent research reports. UBS Group reissued a “neutral” rating and set a $190.00 price objective on shares of Apple in a research report on Monday, July 1st. Loop Capital decreased their price objective on Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. DZ Bank reiterated a “hold” rating and set a $180.00 price objective on shares of Apple in a research note on Thursday, March 28th. JPMorgan Chase & Co. raised their target price on shares of Apple from $225.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. Finally, Melius Research upped their price target on shares of Apple from $227.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $215.71.

Check Out Our Latest Report on AAPL

Apple Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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