Legal Advantage Investments Inc. Acquires 628 Shares of Apple Inc. (NASDAQ:AAPL)

Legal Advantage Investments Inc. increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 5.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 11,965 shares of the iPhone maker’s stock after acquiring an additional 628 shares during the period. Apple comprises 1.6% of Legal Advantage Investments Inc.’s portfolio, making the stock its 22nd biggest position. Legal Advantage Investments Inc.’s holdings in Apple were worth $2,996,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. High Net Worth Advisory Group LLC lifted its stake in shares of Apple by 1.7% during 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 acquiring an additional 1,066 shares during the last quarter. Amara Financial LLC. bought a new stake in Apple during the 3rd quarter valued at $288,000. Truist Financial Corp raised its position in 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 purchasing an additional 126,210 shares in the last quarter. Sterling Investment Counsel LLC raised its position in Apple by 3.8% during the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after purchasing an additional 2,565 shares in the last quarter. Finally, Silicon Valley Capital Partners raised its position in Apple by 12.8% during the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock valued at $59,122,000 after purchasing an additional 28,799 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Stock Down 4.8 %

Apple stock opened at $227.48 on Tuesday. Apple Inc. has a 1-year low of $164.08 and a 1-year high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The stock has a market cap of $3.42 trillion, a PE ratio of 36.11, a P/E/G ratio of 2.44 and a beta of 1.18. The stock’s fifty day moving average is $237.06 and its two-hundred day moving average is $234.16.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) 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%. On average, sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is 15.87%.

Insiders Place Their Bets

In related news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AAPL. Argus upgraded Apple to a “strong-buy” rating in a report on Friday, January 31st. Moffett Nathanson restated a “sell” rating and set a $188.00 target price (down from $202.00) on shares of Apple in a research note on Tuesday, January 7th. Jefferies Financial Group restated an “underperform” rating on shares of Apple in a research note on Wednesday, February 19th. Bank of America boosted their target price on Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and set a $230.00 price target on the stock. in a research note on Tuesday, January 21st. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $243.88.

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.