Legacy Private Trust Co. Has $41.70 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Legacy Private Trust Co. lowered its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 187,738 shares of the iPhone maker's stock after selling 4,653 shares during the period. Apple accounts for approximately 2.9% of Legacy Private Trust Co.'s investment portfolio, making the stock its 5th biggest holding. Legacy Private Trust Co.'s holdings in Apple were worth $41,702,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. OneAscent Wealth Management LLC grew its position in Apple by 4.6% during the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after buying an additional 409 shares in the last quarter. Allstate Corp lifted its position in shares of Apple by 3,368.2% during the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock valued at $113,062,000 after acquiring an additional 438,471 shares during the period. Vinva Investment Management Ltd grew its holdings in shares of Apple by 12.4% during the 4th quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker's stock worth $192,700,000 after purchasing an additional 83,997 shares in the last quarter. Tradewinds Capital Management LLC grew its holdings in shares of Apple by 9.2% during the 4th quarter. Tradewinds Capital Management LLC now owns 21,198 shares of the iPhone maker's stock worth $5,308,000 after purchasing an additional 1,779 shares in the last quarter. Finally, Berkshire Bank increased its position in shares of Apple by 2.7% in the fourth quarter. Berkshire Bank now owns 89,580 shares of the iPhone maker's stock worth $22,433,000 after purchasing an additional 2,360 shares during the period. Institutional investors own 67.73% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research report on Tuesday, June 10th. TD Cowen cut their price target on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Rosenblatt Securities lowered shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target on the stock. in a research report on Friday, May 2nd. Scotiabank downgraded shares of Apple to a "market perform" rating in a research report on Friday, May 2nd. Finally, Evercore ISI upped their target price on Apple to $250.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and a consensus target price of $234.39.

Apple Trading Up 0.0%

NASDAQ AAPL traded up $0.08 on Friday, hitting $201.08. The company's stock had a trading volume of 73,093,456 shares, compared to its average volume of 53,360,608. The company's 50-day moving average is $202.61 and its 200 day moving average is $220.03. The firm has a market cap of $3.00 trillion, a PE ratio of 31.32, a PEG ratio of 2.25 and a beta of 1.22. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. Apple's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.53 earnings per share. As a group, analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is 16.20%.

Apple declared that its board has authorized a stock buyback program on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Insider Activity

In related news, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the transaction, the chief financial officer now owns 4,569 shares of the company's stock, valued at $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction on 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 transaction, the insider now owns 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,507 shares of company stock valued at $42,694,080. Company insiders own 0.06% of the company's stock.

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.