Legacy Capital Wealth Partners LLC Sells 2,490 Shares of Apple Inc. (NASDAQ:AAPL)

Legacy Capital Wealth Partners LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 9.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,856 shares of the iPhone maker’s stock after selling 2,490 shares during the period. Apple comprises 1.3% of Legacy Capital Wealth Partners LLC’s holdings, making the stock its 14th biggest holding. Legacy Capital Wealth Partners LLC’s holdings in Apple were worth $5,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Everhart Financial Group Inc. increased its stake in shares of Apple by 14.7% during the fourth quarter. Everhart Financial Group Inc. now owns 108,728 shares of the iPhone maker’s stock valued at $27,228,000 after buying an additional 13,913 shares during the period. Next Level Wealth Planning LLC purchased a new position in Apple during the 4th quarter valued at about $2,153,000. TigerOak Management L.L.C. bought a new stake in shares of Apple in the 4th quarter valued at about $25,527,000. Compton Financial Group LLC lifted its position in shares of Apple by 5.7% in the 4th quarter. Compton Financial Group LLC now owns 5,755 shares of the iPhone maker’s stock worth $1,441,000 after purchasing an additional 309 shares during the period. Finally, Bluestem Financial Advisors LLC boosted its stake in shares of Apple by 3.1% during the fourth quarter. Bluestem Financial Advisors LLC now owns 3,101 shares of the iPhone maker’s stock valued at $777,000 after purchasing an additional 94 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Trading Up 1.3 %

AAPL opened at $196.79 on Monday. The business’s 50 day moving average price is $219.65 and its 200 day moving average price is $230.13. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The stock has a market capitalization of $2.96 trillion, a PE ratio of 31.24, a P/E/G ratio of 2.44 and a beta of 1.26. Apple Inc. has a one year low of $164.77 and a one year high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. As a group, equities research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s payout ratio is 15.87%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. KeyCorp raised shares of Apple from an “underweight” rating to a “sector weight” rating in a research note on Monday, April 14th. Argus upgraded Apple to a “strong-buy” rating in a research note on Friday, January 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 price objective on shares of Apple in a research report on Monday, April 14th. TD Cowen reiterated a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Apple from $270.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.85.

Insider Buying and Selling

In other news, SVP Katherine L. Adams sold 38,822 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the sale, the senior vice president now owns 179,158 shares of the company’s stock, valued at approximately $40,072,269.86. This represents a 17.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 35,493 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the transaction, the chief operating officer now directly owns 390,059 shares of the company’s stock, valued at approximately $87,377,116.59. This represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 182,451 shares of company stock valued at $40,818,720. Corporate insiders own 0.06% of the company’s stock.

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.