Legacy Wealth Management LLC MS Has $17.23 Million Position in Apple Inc. (NASDAQ:AAPL)

Legacy Wealth Management LLC MS increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 7.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 73,945 shares of the iPhone maker’s stock after acquiring an additional 5,231 shares during the period. Apple accounts for about 6.3% of Legacy Wealth Management LLC MS’s holdings, making the stock its 3rd largest position. Legacy Wealth Management LLC MS’s holdings in Apple were worth $17,229,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. High Net Worth Advisory Group LLC grew its position in Apple by 1.7% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after purchasing an additional 1,066 shares during the last quarter. Amara Financial LLC. bought a new stake in shares of Apple in the third quarter valued at about $288,000. Granite Investment Partners LLC grew its position in Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after buying an additional 7,606 shares in the last quarter. Truist Financial Corp increased its stake in Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after acquiring an additional 126,210 shares during the period. Finally, Sterling Investment Counsel LLC raised its holdings in Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after acquiring an additional 2,565 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AAPL. UBS Group restated a “neutral” rating and issued a $236.00 price objective on shares of Apple in a research note on Monday, December 2nd. Rosenblatt Securities restated a “buy” rating and set a $262.00 price target on shares of Apple in a research note on Monday, January 27th. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price on shares of Apple in a report on Friday, January 31st. Finally, Oppenheimer lowered Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $242.52.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

Shares of AAPL stock opened at $244.60 on Monday. The firm has a 50 day moving average of $240.70 and a 200-day moving average of $231.68. The company has a market cap of $3.67 trillion, a price-to-earnings ratio of 38.83, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio is currently 15.87%.

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.