Legacy Trust Has $22.54 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Legacy Trust lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 117,048 shares of the iPhone maker’s stock after selling 5,368 shares during the period. Apple comprises about 5.9% of Legacy Trust’s investment portfolio, making the stock its biggest holding. Legacy Trust’s holdings in Apple were worth $22,535,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AAPL. Wyrmwood Management LLC grew its position in Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 69 shares during the last quarter. Gilfoyle & Co LLC boosted its position in shares of Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after buying an additional 118 shares during the period. PayPay Securities Corp grew its holdings in Apple by 70.2% in the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after buying an additional 210 shares in the last quarter. Cordant Inc. increased its position in Apple by 27.7% in the 3rd quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock valued at $110,000 after acquiring an additional 140 shares during the period. Finally, Life Planning Partners Inc bought a new stake in Apple during the 4th quarter valued at $132,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Apple news, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the transaction, the senior vice president now owns 136,572 shares in the company, valued at $23,068,376.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $18,768,046.56. The disclosure for this sale can be found here. Insiders sold 366,271 shares of company stock valued at $63,653,887 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Down 0.3 %

Apple stock opened at $169.30 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $199.62. The company’s fifty day simple moving average is $173.04 and its 200-day simple moving average is $181.83. The stock has a market cap of $2.61 trillion, a P/E ratio of 26.37, a P/E/G ratio of 2.04 and a beta of 1.27.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.09. The company had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.88 EPS. As a group, sell-side analysts forecast that Apple Inc. will post 6.54 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s dividend payout ratio (DPR) is presently 14.95%.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of research analyst reports. Monness Crespi & Hardt raised their price target on Apple from $189.00 to $200.00 and gave the company a “buy” rating in a report on Friday, February 2nd. JPMorgan Chase & Co. lowered their target price on shares of Apple from $215.00 to $210.00 and set an “overweight” rating on the stock in a research note on Thursday, April 11th. Bank of America upgraded shares of Apple from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $208.00 to $225.00 in a research report on Thursday, January 18th. DA Davidson began coverage on shares of Apple in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $166.00 price objective for the company. Finally, Barclays reissued an “underweight” rating and set a $158.00 target price on shares of Apple in a report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.05.

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.