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

Legacy Wealth Asset Management LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,932 shares of the iPhone maker’s stock after selling 370 shares during the period. Apple accounts for approximately 1.5% of Legacy Wealth Asset Management LLC’s portfolio, making the stock its 5th biggest position. Legacy Wealth Asset Management LLC’s holdings in Apple were worth $5,576,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Bull Oak Capital LLC raised its holdings in shares of 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 purchasing an additional 111 shares in the last quarter. Hershey Financial Advisers LLC bought a new stake in Apple in the second quarter worth $42,000. Christopher J. Hasenberg Inc increased its position in 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 buying an additional 144 shares during the last quarter. Cordant Inc. raised its holdings in Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after buying an additional 173 shares in the last quarter. Finally, Sage Financial Group Inc. acquired a new stake in shares of Apple in the second quarter worth about $206,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total value 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 $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 508,170 shares of company stock valued at $117,004,745 over the last ninety days. 0.06% of the stock is owned by insiders.

Apple Stock Up 1.1 %

Shares of NASDAQ:AAPL opened at $258.20 on Wednesday. The company’s fifty day moving average is $235.45 and its 200-day moving average is $226.34. 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 Inc. has a 52 week low of $164.07 and a 52 week high of $258.21. The company has a market capitalization of $3.90 trillion, a PE ratio of 42.47, a P/E/G ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.46 earnings per share. Equities research analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.39%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AAPL shares. JPMorgan Chase & Co. reissued an “overweight” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, September 10th. Wells Fargo & Company lifted their price target on shares of Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Tigress Financial upped their price objective on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Rosenblatt Securities raised their target price on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Morgan Stanley reissued an “overweight” rating and set a $273.00 target price on shares of Apple in a research report on Friday, December 13th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $236.78.

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.