Legacy Advisors LLC boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 188,425 shares of the iPhone maker's stock after buying an additional 16,014 shares during the quarter. Apple makes up approximately 4.3% of Legacy Advisors LLC's investment portfolio, making the stock its 4th biggest holding. Legacy Advisors LLC's holdings in Apple were worth $41,855,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of AAPL. Asset Management One Co. Ltd. boosted its stake in Apple by 5.4% in the first quarter. Asset Management One Co. Ltd. now owns 6,518,930 shares of the iPhone maker's stock valued at $1,448,050,000 after acquiring an additional 334,570 shares in the last quarter. Foundation Wealth Management LLC PA boosted its stake in Apple by 10.1% in the first quarter. Foundation Wealth Management LLC PA now owns 5,327 shares of the iPhone maker's stock valued at $1,183,000 after acquiring an additional 487 shares in the last quarter. Narwhal Capital Management boosted its stake in Apple by 1.2% in the first quarter. Narwhal Capital Management now owns 277,333 shares of the iPhone maker's stock valued at $61,604,000 after acquiring an additional 3,264 shares in the last quarter. SC&H Financial Advisors Inc. boosted its stake in Apple by 1.9% in the first quarter. SC&H Financial Advisors Inc. now owns 40,540 shares of the iPhone maker's stock valued at $9,005,000 after acquiring an additional 770 shares in the last quarter. Finally, Guardian Financial Partners LLC boosted its stake in Apple by 18.1% in the first quarter. Guardian Financial Partners LLC now owns 17,146 shares of the iPhone maker's stock valued at $3,809,000 after acquiring an additional 2,626 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Apple
In other news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider directly owned 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
AAPL has been the subject of several recent analyst reports. DA Davidson restated a "buy" rating and issued a $250.00 target price on shares of Apple in a research note on Friday. KeyCorp upgraded shares of Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Scotiabank downgraded shares of Apple to a "market perform" rating in a research note on Friday, May 2nd. Barclays lifted their price objective on shares of Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a research note on Friday. Finally, UBS Group lifted their price objective on shares of Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a research note on Friday. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $237.25.
Check Out Our Latest Stock Analysis on Apple
Apple Price Performance
NASDAQ:AAPL traded up $0.79 during mid-day trading on Tuesday, hitting $204.14. 7,744,827 shares of the company's stock traded hands, compared to its average volume of 56,777,820. 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 firm's 50 day simple moving average is $205.53 and its 200 day simple moving average is $213.31. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a market cap of $3.05 trillion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 2.20 and a beta of 1.17.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company's quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.40 earnings per share. Sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current year.
Apple announced that its board has initiated a share repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.
Apple Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 11th will be issued a dividend of $0.26 per share. The ex-dividend date is Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. Apple's payout ratio is 15.78%.
Apple Profile
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Free Report)
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.
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