Legacy Investment Solutions LLC Makes New $750,000 Investment in Apple Inc. (NASDAQ:AAPL)

Legacy Investment Solutions LLC acquired a new position in shares of Apple Inc. (NASDAQ:AAPL) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,330 shares of the iPhone maker’s stock, valued at approximately $750,000.

Other hedge funds also recently made changes to their positions in the company. Heritage Family Offices LLP purchased a new position in shares of Apple during the second quarter worth about $3,331,000. Natixis Advisors LLC grew its holdings in shares of Apple by 19.5% during the second quarter. Natixis Advisors LLC now owns 6,321,897 shares of the iPhone maker’s stock worth $1,331,518,000 after buying an additional 1,031,405 shares during the last quarter. Clayton Financial Group LLC grew its holdings in shares of Apple by 1.2% during the second quarter. Clayton Financial Group LLC now owns 32,694 shares of the iPhone maker’s stock worth $6,886,000 after buying an additional 403 shares during the last quarter. White Wing Wealth Management grew its holdings in shares of Apple by 2.9% during the second quarter. White Wing Wealth Management now owns 8,143 shares of the iPhone maker’s stock worth $1,715,000 after buying an additional 231 shares during the last quarter. Finally, Financial Counselors Inc. grew its holdings in shares of Apple by 1.9% during the second quarter. Financial Counselors Inc. now owns 1,416,737 shares of the iPhone maker’s stock worth $298,393,000 after buying an additional 26,192 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AAPL. Loop Capital lowered Apple from a “buy” rating to a “hold” rating and set a $230.00 price target on the stock. in a report on Tuesday, January 21st. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Raymond James raised their price target on Apple to $250.00 and gave the stock a “buy” rating in a report on Monday, January 20th. Evercore ISI raised their price objective on shares of Apple from $250.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, TD Cowen restated a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $242.52.

Insider Activity

In related news, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Up 1.8 %

Shares of AAPL opened at $236.87 on Thursday. The stock has a market cap of $3.56 trillion, a price-to-earnings ratio of 37.60, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. The firm has a 50 day simple moving average of $240.82 and a 200-day simple moving average of $231.30. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Equities analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Stockholders of record on Monday, February 10th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Monday, February 10th. Apple’s dividend payout ratio is currently 15.87%.

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.