Legacy Financial Advisors Inc. Increases Position in Apple Inc. (NASDAQ:AAPL)

Legacy Financial Advisors Inc. increased its stake in Apple Inc. (NASDAQ:AAPL) by 2.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,663 shares of the iPhone maker’s stock after acquiring an additional 1,929 shares during the period. Apple comprises about 2.8% of Legacy Financial Advisors Inc.’s holdings, making the stock its 8th largest holding. Legacy Financial Advisors Inc.’s holdings in Apple were worth $15,936,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of AAPL. Chico Wealth RIA boosted its holdings in shares of Apple by 15.5% during the first quarter. Chico Wealth RIA now owns 6,161 shares of the iPhone maker’s stock worth $1,057,000 after purchasing an additional 826 shares during the period. MGO Private Wealth LLC raised its position in Apple by 1.2% during the 1st quarter. MGO Private Wealth LLC now owns 26,744 shares of the iPhone maker’s stock valued at $4,586,000 after purchasing an additional 309 shares during the last quarter. Hubbell Strickland Wealth Management LLC lifted its holdings in Apple by 1.3% in the 1st quarter. Hubbell Strickland Wealth Management LLC now owns 7,586 shares of the iPhone maker’s stock worth $1,301,000 after buying an additional 100 shares during the period. Miracle Mile Advisors LLC grew its position in shares of Apple by 0.3% in the 1st quarter. Miracle Mile Advisors LLC now owns 517,929 shares of the iPhone maker’s stock worth $88,815,000 after buying an additional 1,791 shares during the last quarter. Finally, CCG Wealth Management LLC increased its stake in shares of Apple by 9.2% during the first quarter. CCG Wealth Management LLC now owns 11,309 shares of the iPhone maker’s stock valued at $1,939,000 after buying an additional 949 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of research analyst reports. Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 target price on shares of Apple in a research note on Tuesday, September 10th. Moffett Nathanson began coverage on shares of Apple in a research note on Monday, August 19th. They issued a “neutral” rating and a $211.00 price target for the company. Citigroup lifted their price objective on Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Raymond James increased their target price on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $235.51.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Chris Kondo sold 8,706 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 412,746 shares of company stock worth $93,021,362 in the last quarter. Company insiders own 0.06% of the company’s stock.

Apple Trading Down 0.1 %

Shares of AAPL stock opened at $226.96 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The stock has a market capitalization of $3.43 trillion, a P/E ratio of 37.33, a P/E/G ratio of 2.18 and a beta of 1.24. The firm’s 50 day moving average is $226.82 and its 200 day moving average is $214.03.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period last year, the business posted $1.46 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s payout ratio is currently 16.45%.

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.