My Legacy Advisors LLC Acquires 1,436 Shares of Apple Inc. (NASDAQ:AAPL)

My Legacy Advisors LLC increased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,248 shares of the iPhone maker's stock after purchasing an additional 1,436 shares during the period. Apple makes up about 3.3% of My Legacy Advisors LLC's investment portfolio, making the stock its 3rd largest position. My Legacy Advisors LLC's holdings in Apple were worth $8,496,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Drystone LLC bought a new position in Apple during the fourth quarter valued at $25,000. Life Planning Partners Inc bought a new position in Apple during the fourth quarter valued at $47,000. Conquis Financial LLC bought a new position in Apple during the fourth quarter valued at $63,000. LSV Asset Management bought a new position in Apple during the fourth quarter valued at $65,000. Finally, Pillar Financial Advisors LLC bought a new position in Apple during the fourth quarter valued at $82,000. Institutional investors own 67.73% of the company's stock.

Insider Activity

In other news, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the transaction, the chief financial officer owned 4,569 shares in the company, valued at $941,214. This represents a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the company's 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 transaction, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company's stock.

Apple Stock Down 0.6%

Shares of AAPL stock traded down $1.25 during mid-day trading on Friday, hitting $211.16. 39,713,698 shares of the stock traded hands, compared to its average volume of 53,349,236. The stock has a market cap of $3.15 trillion, a P/E ratio of 32.89, a P/E/G ratio of 2.36 and a beta of 1.20. The stock's fifty day moving average is $203.39 and its two-hundred day moving average is $217.12. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78.

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

Apple declared that its board has initiated a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is 16.20%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Monness Crespi & Hardt boosted their price objective on shares of Apple to $245.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a research report on Wednesday, May 21st. DA Davidson upped their price target on shares of Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Tigress Financial upped their price target on shares of Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a report on Thursday, April 3rd. Finally, TD Cowen cut their price target on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $235.27.

About Apple

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.