Apple Inc. $AAPL Holdings Cut by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. cut its position in Apple Inc. (NASDAQ:AAPL) by 2.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,232 shares of the iPhone maker’s stock after selling 2,536 shares during the quarter. Apple comprises 7.2% of Legacy Capital Group California Inc.’s investment portfolio, making the stock its biggest position. Legacy Capital Group California Inc.’s holdings in Apple were worth $25,899,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Advanced Portfolio Management LLC increased its position in shares of Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after buying an additional 47 shares in the last quarter. Salus Financial Advisors LLC increased its position in shares of Apple by 3.9% in the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock valued at $291,000 after buying an additional 49 shares in the last quarter. Sharpepoint LLC increased its position in shares of Apple by 3.5% in the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock valued at $322,000 after buying an additional 51 shares in the last quarter. Redwood Financial Network Corp increased its position in shares of Apple by 0.6% in the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock valued at $2,184,000 after buying an additional 53 shares in the last quarter. Finally, Mission Hills Financial Advisory LLC increased its position in shares of Apple by 1.3% in the first quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker’s stock valued at $892,000 after buying an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $258.02 on Friday. The firm has a market cap of $3.83 trillion, a price-to-earnings ratio of 39.15, a PEG ratio of 2.49 and a beta of 1.09. The stock has a 50 day moving average of $233.09 and a 200-day moving average of $214.69. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.

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

Apple Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on AAPL. Seaport Res Ptn upgraded Apple to a “strong-buy” rating in a research report on Wednesday. Moffett Nathanson raised Apple from a “sell” rating to a “neutral” rating and set a $225.00 price objective on the stock in a research note on Thursday, September 4th. Loop Capital decreased their price objective on Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a research note on Thursday, August 21st. UBS Group reaffirmed a “neutral” rating on shares of Apple in a research note on Monday, September 8th. Finally, Phillip Securities lowered Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price objective on the stock. in a research note on Thursday, September 11th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $247.49.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the transaction, the chief executive officer owned 3,280,295 shares in the company, valued at $842,412,558.95. The trade was a 3.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the transaction, the senior vice president owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This represents a 20.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,922 shares of company stock worth $64,320,190 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

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.