Apple Inc. (NASDAQ:AAPL) Shares Sold by Legacy Financial Strategies LLC

Legacy Financial Strategies LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,151 shares of the iPhone maker’s stock after selling 287 shares during the quarter. Apple makes up 1.6% of Legacy Financial Strategies LLC’s holdings, making the stock its 10th biggest holding. Legacy Financial Strategies LLC’s holdings in Apple were worth $7,596,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Drystone LLC bought a new position in shares of Apple in the 4th quarter valued at $25,000. Bull Oak Capital LLC raised its position in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new position in Apple in the third quarter valued at about $71,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Apple during the third quarter valued at about $77,000. Finally, ARK Investment Management LLC bought a new stake in shares of Apple during the third quarter worth about $110,000. Institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $198.15 on Friday. Apple Inc. has a twelve month low of $164.08 and a twelve month high of $260.10. The stock’s 50 day moving average is $222.87 and its 200-day moving average is $231.14. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 31.45, a PEG ratio of 2.44 and a beta of 1.26.

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

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.50%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Insiders Place Their Bets

In related news, SVP Katherine L. Adams sold 38,822 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the transaction, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. The trade was a 17.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 108,136 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the sale, the chief executive officer now directly owns 3,280,295 shares of the company’s stock, valued at $733,637,976.75. The trade was a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 182,451 shares of company stock valued at $40,818,720 in the last three months. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Maxim Group lifted their target price on shares of Apple to $215.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. Moffett Nathanson reiterated a “sell” rating and set a $188.00 price target (down previously from $202.00) on shares of Apple in a report on Tuesday, January 7th. Redburn Partners set a $230.00 price objective on Apple in a report on Friday, January 31st. Wedbush cut their target price on Apple from $325.00 to $250.00 and set an “outperform” rating on the stock in a report on Monday, April 7th. Finally, JPMorgan Chase & Co. upped their price target on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $240.26.

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.