Apple Inc. $AAPL Holdings Lifted by Legacy Solutions LLC

Legacy Solutions LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 12.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,902 shares of the iPhone maker’s stock after buying an additional 421 shares during the quarter. Apple accounts for approximately 0.8% of Legacy Solutions LLC’s holdings, making the stock its 25th biggest position. Legacy Solutions LLC’s holdings in Apple were worth $800,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Ryan Investment Management Inc. acquired a new stake in Apple during the second quarter valued at $31,000. ROSS JOHNSON & Associates LLC boosted its position in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares during the last quarter. Conquis Financial LLC acquired a new stake in Apple during the fourth quarter valued at $63,000. LSV Asset Management acquired a new stake in Apple during the fourth quarter valued at $65,000. Finally, Elite Financial Inc. acquired a new stake in Apple during the first quarter valued at $58,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 3,280,295 shares in the company, valued at $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction dated 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 in the company, valued at $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,922 shares of company stock valued at $64,320,190. Insiders own 0.06% of the company’s stock.

Apple Price Performance

NASDAQ AAPL opened at $256.69 on Tuesday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a market capitalization of $3.81 trillion, a PE ratio of 38.95, a P/E/G ratio of 2.51 and a beta of 1.09. The stock has a 50-day simple moving average of $233.94 and a 200 day simple moving average of $214.96.

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

Apple Dividend Announcement

The firm 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. 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 payout ratio is currently 15.78%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Tigress Financial lifted their price objective on Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 17th. Bank of America boosted their price target on Apple from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Melius Research set a $290.00 price target on Apple and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Seaport Res Ptn raised Apple to a “strong-buy” rating in a research report on Wednesday, October 1st. Finally, HSBC set a $220.00 price target on Apple and gave the stock a “hold” rating in a research report on Monday, September 8th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $247.49.

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.