Legacy CG LLC Sells 1,860 Shares of Apple Inc. (NASDAQ:AAPL)

Legacy CG LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 7.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,331 shares of the iPhone maker’s stock after selling 1,860 shares during the quarter. Apple makes up 1.8% of Legacy CG LLC’s holdings, making the stock its 24th biggest holding. Legacy CG LLC’s holdings in Apple were worth $5,436,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. International Assets Investment Management LLC grew its position in shares of Apple by 20,372.7% in the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after buying an additional 93,886,664 shares during the last quarter. Strategic Financial Concepts LLC boosted its stake in shares of Apple by 14,145.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after purchasing an additional 7,558,826 shares during the last quarter. Pathway Financial Advisers LLC increased its position in shares of Apple by 22,870.6% during the third quarter. Pathway Financial Advisers LLC now owns 5,590,588 shares of the iPhone maker’s stock worth $1,302,607,000 after buying an additional 5,566,250 shares during the period. William Blair Investment Management LLC bought a new stake in shares of Apple during the 2nd quarter valued at about $834,368,000. Finally, National Pension Service lifted its position in shares of Apple by 14.0% during the 3rd quarter. National Pension Service now owns 27,882,996 shares of the iPhone maker’s stock valued at $6,496,738,000 after acquiring an additional 3,416,922 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AAPL has been the subject of a number of analyst reports. KeyCorp downgraded 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. Loop Capital cut their price objective on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and upped their price objective for the stock from $205.00 to $212.92 in a report on Monday, October 7th. Finally, Oppenheimer reiterated a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $237.64.

Apple Trading Up 0.2 %

NASDAQ:AAPL opened at $242.70 on Thursday. The company’s 50 day moving average price is $239.57 and its 200-day moving average price is $229.66. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The stock has a market cap of $3.67 trillion, a price-to-earnings ratio of 39.92, a PEG ratio of 2.41 and a beta of 1.20.

Apple (NASDAQ:AAPL) last announced its quarterly 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. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the prior year, the company posted $1.46 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. Apple’s payout ratio is 16.45%.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.