Legacy Advisors LLC boosted its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 22.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,411 shares of the iPhone maker’s stock after buying an additional 19,909 shares during the quarter. Apple accounts for approximately 3.1% of Legacy Advisors LLC’s holdings, making the stock its 2nd biggest holding. Legacy Advisors LLC’s holdings in Apple were worth $21,223,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Atlantic Private Wealth LLC bought a new stake in shares of Apple in the 1st quarter worth about $30,000. Cheyne Capital Management UK LLP increased its position in shares of Apple by 200.0% in the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $212,000 after purchasing an additional 550 shares during the last quarter. HBC Financial Services PLLC increased its position in shares of Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares during the last quarter. Clear Perspectives Financial Planning LLC increased its position in shares of Apple by 27.3% in the 1st quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock worth $172,000 after purchasing an additional 211 shares during the last quarter. Finally, NNS Holding bought a new stake in shares of Apple in the 2nd quarter worth about $193,000. Institutional investors own 58.51% of the company’s stock.
Insider Activity at Apple
In related news, CFO Luca Maestri sold 31,685 shares of the stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $178.69, for a total transaction of $5,661,792.65. Following the completion of the sale, the chief financial officer now directly owns 107,661 shares of the company’s stock, valued at $19,237,944.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Luca Maestri sold 31,685 shares of the business’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $178.69, for a total transaction of $5,661,792.65. Following the sale, the chief financial officer now owns 107,661 shares in the company, valued at $19,237,944.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Deirdre O’brien sold 65,536 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the sale, the senior vice president now owns 136,445 shares in the company, valued at approximately $23,483,548.95. The disclosure for this sale can be found here. Insiders sold a total of 455,004 shares of company stock valued at $79,238,767 over the last ninety days. Insiders own 0.06% of the company’s stock.
Apple Stock Down 0.2 %
Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, beating the consensus estimate of $1.19 by $0.07. Apple had a net margin of 24.68% and a return on equity of 164.92%. The business had revenue of $81.80 billion during the quarter, compared to analyst estimates of $81.79 billion. During the same period in the prior year, the business earned $1.20 earnings per share. The business’s quarterly revenue was down 1.4% on a year-over-year basis. Equities research analysts forecast that Apple Inc. will post 6.05 earnings per share for the current fiscal year.
Apple Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.55%. The ex-dividend date was Friday, August 11th. Apple’s dividend payout ratio is presently 16.13%.
Wall Street Analyst Weigh In
AAPL has been the subject of several research analyst reports. Robert W. Baird boosted their target price on shares of Apple from $180.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 price objective on shares of Apple in a research report on Wednesday, September 13th. Wedbush boosted their price objective on shares of Apple from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 13th. TD Cowen boosted their price objective on shares of Apple from $195.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, August 1st. Finally, KeyCorp reaffirmed an “overweight” rating and set a $200.00 price objective on shares of Apple in a research report on Thursday, September 14th. Nine equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $200.40.
Read Our Latest Report on Apple
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.
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