Legacy Private Trust Co. Has $48.18 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Legacy Private Trust Co. boosted its stake in Apple Inc. (NASDAQ:AAPL) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 192,391 shares of the iPhone maker’s stock after acquiring an additional 12,565 shares during the period. Apple accounts for about 3.2% of Legacy Private Trust Co.’s holdings, making the stock its 6th biggest position. Legacy Private Trust Co.’s holdings in Apple were worth $48,179,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. High Net Worth Advisory Group LLC lifted its holdings in Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $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 approximately $288,000. Granite Investment Partners LLC raised its position in shares of Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after purchasing an additional 7,606 shares during the period. Truist Financial Corp lifted its stake in shares of Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after buying an additional 126,210 shares in the last quarter. Finally, Sterling Investment Counsel LLC boosted 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 worth $16,269,000 after buying an additional 2,565 shares during the period. 67.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AAPL. Moffett Nathanson reaffirmed a “sell” rating and issued a $188.00 price target (down from $202.00) on shares of Apple in a report on Tuesday, January 7th. Citigroup raised their target price on Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. KeyCorp reissued an “underweight” rating and issued a $200.00 price target on shares of Apple in a report on Friday, January 31st. Argus upgraded shares of Apple to a “strong-buy” rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. upped their target price on shares of Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $242.52.

Insider Activity at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

Shares of AAPL opened at $244.47 on Wednesday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The firm’s 50-day simple moving average is $240.66 and its two-hundred day simple moving average is $231.94. The stock has a market cap of $3.67 trillion, a PE ratio of 38.80, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92.

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

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is 15.87%.

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.