Apple Inc. (NASDAQ:AAPL) is Legacy Wealth Asset Management LLC’s 5th Largest Position

Legacy Wealth Asset Management LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,932 shares of the iPhone maker’s stock after selling 370 shares during the quarter. Apple accounts for about 1.5% of Legacy Wealth Asset Management LLC’s investment portfolio, making the stock its 5th biggest position. Legacy Wealth Asset Management LLC’s holdings in Apple were worth $5,576,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Bull Oak Capital LLC boosted its stake in Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares during the last quarter. Hershey Financial Advisers LLC acquired a new stake in shares of Apple in the 2nd quarter valued at about $42,000. Christopher J. Hasenberg Inc lifted its position in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the last quarter. Cordant Inc. grew its stake in Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after purchasing an additional 173 shares in the last quarter. Finally, Sage Financial Group Inc. bought a new stake in Apple in the second quarter valued at about $206,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity

In other Apple news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. The trade was a 35.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 508,170 shares of company stock worth $117,004,745 over the last 90 days. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Citigroup lifted their target price on Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. New Street Research reaffirmed a “neutral” rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Morgan Stanley reissued an “overweight” rating and set a $273.00 target price on shares of Apple in a report on Friday, December 13th. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $245.00 price target on shares of Apple in a report on Monday, September 9th. Finally, StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $236.78.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $258.20 on Wednesday. The stock has a fifty day moving average price of $235.45 and a two-hundred day moving average price of $226.34. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $258.21. The firm has a market cap of $3.90 trillion, a P/E ratio of 42.47, a PEG ratio of 2.41 and a beta of 1.23. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. Research analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is presently 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.