Legacy Financial Group Inc. Has $7.27 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Legacy Financial Group Inc. lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,512 shares of the iPhone maker’s stock after selling 468 shares during the quarter. Apple makes up approximately 2.8% of Legacy Financial Group Inc.’s investment portfolio, making the stock its 13th largest position. Legacy Financial Group Inc.’s holdings in Apple were worth $7,269,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Searcy Financial Services Inc. ADV grew its position in shares of Apple by 2.6% in the first quarter. Searcy Financial Services Inc. ADV now owns 49,490 shares of the iPhone maker’s stock valued at $8,487,000 after purchasing an additional 1,241 shares during the last quarter. Griffin Asset Management Inc. grew its position in shares of Apple by 2.6% in the first quarter. Griffin Asset Management Inc. now owns 197,080 shares of the iPhone maker’s stock valued at $33,795,000 after purchasing an additional 4,980 shares during the last quarter. Grimes & Company Inc. grew its position in shares of Apple by 9.5% in the first quarter. Grimes & Company Inc. now owns 446,017 shares of the iPhone maker’s stock valued at $76,483,000 after purchasing an additional 38,608 shares during the last quarter. Meritas Wealth Management LLC grew its position in shares of Apple by 0.4% in the first quarter. Meritas Wealth Management LLC now owns 41,527 shares of the iPhone maker’s stock valued at $7,121,000 after purchasing an additional 150 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. grew its position in shares of Apple by 0.8% in the first quarter. Investment Research & Advisory Group Inc. now owns 86,035 shares of the iPhone maker’s stock valued at $14,753,000 after purchasing an additional 690 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Maxim Group upped their target price on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. StockNews.com cut Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a research note on Friday, October 25th. Evercore ISI reiterated a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. Finally, TD Cowen boosted their price target on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $235.51.

Apple Stock Up 0.6 %

Shares of AAPL opened at $223.45 on Wednesday. The stock has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 36.75, a PEG ratio of 2.39 and a beta of 1.24. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The stock has a fifty day moving average of $226.98 and a 200-day moving average of $213.44. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.46 earnings per share. As a group, sell-side analysts anticipate that Apple Inc. will post 7.45 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple’s payout ratio is 16.45%.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the sale, the senior vice president now owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 417,924 shares of company stock worth $94,142,399 over the last three months. Company insiders own 0.06% of the company’s stock.

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.