2,489 Shares in Apple Inc. $AAPL Bought by Legacy Advisory Services LLC

Legacy Advisory Services LLC purchased a new position in Apple Inc. (NASDAQ:AAPL) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,489 shares of the iPhone maker’s stock, valued at approximately $553,000. Apple makes up about 0.5% of Legacy Advisory Services LLC’s portfolio, making the stock its 22nd biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Burkett Financial Services LLC grew its holdings in shares of Apple by 0.6% during the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock worth $3,199,000 after buying an additional 93 shares in the last quarter. Avid Wealth Partners LLC grew its holdings in shares of Apple by 28.3% in the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after purchasing an additional 930 shares during the period. OneAscent Wealth Management LLC grew its holdings in shares of Apple by 4.6% in the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock valued at $2,337,000 after purchasing an additional 409 shares during the period. Bell & Brown Wealth Advisors LLC grew its holdings in shares of Apple by 0.4% in the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after purchasing an additional 240 shares during the period. Finally, TruWealth Advisors LLC grew its holdings in shares of Apple by 2.8% in the first quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker’s stock valued at $42,045,000 after purchasing an additional 5,120 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Evercore ISI upped their price objective on shares of Apple from $250.00 to $260.00 and gave the company an “outperform” rating in a report on Wednesday. Rosenblatt Securities upped their price objective on shares of Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of Apple from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Barclays upped their price objective on shares of Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a report on Friday, August 1st. Finally, UBS Group reaffirmed a “neutral” rating on shares of Apple in a research report on Monday, September 8th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $240.80.

Insider Activity

In other news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Up 1.8%

NASDAQ AAPL opened at $234.07 on Friday. The firm’s 50-day moving average is $221.50 and its two-hundred day moving average is $212.20. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market capitalization of $3.47 trillion, a P/E ratio of 35.52, a PEG ratio of 2.39 and a beta of 1.11.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 earnings per share. On average, sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio is currently 15.78%.

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.