Legacy Financial Strategies LLC Increases Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Legacy Financial Strategies LLC boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 6.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,438 shares of the iPhone maker’s stock after acquiring an additional 1,825 shares during the quarter. Apple accounts for approximately 1.6% of Legacy Financial Strategies LLC’s investment portfolio, making the stock its 11th biggest position. Legacy Financial Strategies LLC’s holdings in Apple were worth $7,325,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in Apple by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock valued at $11,160,183,000 after acquiring an additional 2,785,807 shares during the period. Ameriprise Financial Inc. boosted its holdings in Apple by 6.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after acquiring an additional 3,245,281 shares during the period. Capital International Investors boosted its holdings in Apple by 7.1% during the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after acquiring an additional 2,474,887 shares during the period. American Century Companies Inc. boosted its stake in shares of Apple by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after buying an additional 1,065,759 shares during the period. Finally, Swedbank AB boosted its stake in shares of Apple by 13.4% in the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after buying an additional 2,359,409 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 408,170 shares of company stock valued at $92,007,745. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on AAPL. Citigroup lifted their price objective on Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Loop Capital decreased their price objective on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Wells Fargo & Company lifted their price objective on Apple to $275.00 and gave the company a “buy” rating in a research note on Monday. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Apple in a research note on Tuesday. Finally, UBS Group reiterated a “neutral” rating and issued a $236.00 price objective on shares of Apple in a research note on Monday, December 2nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $236.78.

Apple Trading Up 0.6 %

NASDAQ:AAPL opened at $247.96 on Friday. The firm has a market cap of $3.75 trillion, a P/E ratio of 40.78, a PEG ratio of 2.42 and a beta of 1.23. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The stock’s 50 day simple moving average is $231.63 and its 200-day simple moving average is $222.83. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $250.80.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 earnings per share. Equities analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

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.