1,885 Shares in Apple Inc. (NASDAQ:AAPL) Bought by Legacy Wealth Management Inc

Legacy Wealth Management Inc acquired a new stake in Apple Inc. (NASDAQ:AAPL) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,885 shares of the iPhone maker’s stock, valued at approximately $323,000. Apple comprises 0.0% of Legacy Wealth Management Inc’s holdings, making the stock its 21st biggest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wyrmwood Management LLC raised its holdings in shares of Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 69 shares during the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new stake in Apple during the 4th quarter valued at approximately $39,000. Gilfoyle & Co LLC lifted its position in Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after acquiring an additional 118 shares during the period. University of Texas Texas AM Investment Managment Co. grew its stake in shares of Apple by 657.1% in the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares during the last quarter. Finally, Clarity Asset Management Inc. acquired a new position in shares of Apple in the fourth quarter valued at approximately $85,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the transaction, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, COO Jeffrey E. Williams sold 59,162 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the completion of the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $84,378,155.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the transaction, the senior vice president now directly owns 136,572 shares in the company, valued at $23,068,376.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 247,087 shares of company stock valued at $44,016,111. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AAPL shares. Canaccord Genuity Group increased their price target on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Saturday, May 4th. Tigress Financial lifted their target price on shares of Apple from $240.00 to $245.00 and gave the company a “strong-buy” rating in a report on Thursday, May 30th. DZ Bank reissued a “hold” rating and set a $180.00 price target on shares of Apple in a report on Thursday, March 28th. Wedbush lifted their price objective on Apple from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Finally, Itau BBA Securities raised Apple from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $162.00 to $188.00 in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $215.71.

Apple Trading Down 1.6 %

Shares of Apple stock opened at $210.62 on Monday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $220.20. The business’s fifty day moving average is $192.13 and its two-hundred day moving average is $185.31. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The firm has a market cap of $3.23 trillion, a PE ratio of 32.76, a P/E/G ratio of 2.56 and a beta of 1.25.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.02. The firm had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.52 earnings per share. Analysts anticipate that Apple Inc. will post 6.59 earnings per share for the current year.

Apple announced that its Board of Directors has authorized a share repurchase program on Thursday, May 2nd that allows the company to buyback $110.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.47%. This is an increase from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. Apple’s payout ratio is presently 15.55%.

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.