Legacy Private Trust Co. Has $30.73 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Legacy Private Trust Co. decreased its stake in Apple Inc. (NASDAQ:AAPL) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 179,212 shares of the iPhone maker’s stock after selling 967 shares during the period. Apple accounts for about 2.2% of Legacy Private Trust Co.’s holdings, making the stock its 7th biggest position. Legacy Private Trust Co.’s holdings in Apple were worth $30,731,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wyrmwood Management LLC boosted its holdings in Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after buying an additional 69 shares during the period. A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Apple in the fourth quarter valued at $39,000. Gilfoyle & Co LLC grew its position in shares of Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after purchasing an additional 118 shares in the last quarter. University of Texas Texas AM Investment Managment Co. raised its stake in shares of Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares during the period. Finally, Clarity Asset Management Inc. purchased a new stake in Apple during the 4th quarter worth about $85,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Down 1.0 %

Shares of NASDAQ:AAPL opened at $207.49 on Friday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $220.20. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. The stock’s 50-day moving average is $187.87 and its 200 day moving average is $184.81. The company has a market cap of $3.18 trillion, a PE ratio of 32.27, a P/E/G ratio of 2.55 and a beta of 1.25.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.52 earnings per share. Sell-side analysts anticipate that Apple Inc. will post 6.58 EPS for the current year.

Apple declared that its board has initiated a stock buyback plan on Thursday, May 2nd that allows the company to buyback $110.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.48%. This is a boost from Apple’s previous quarterly dividend of $0.24. Apple’s payout ratio is currently 15.55%.

Insider Buying and Selling

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares in the company, valued at $835,207,570.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 4,999 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the sale, the insider now owns 29,278 shares in the company, valued at approximately $5,574,531.20. The disclosure for this sale can be found here. Insiders sold a total of 346,270 shares of company stock valued at $60,880,196 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AAPL shares. Morgan Stanley reissued an “overweight” rating and issued a $216.00 price target on shares of Apple in a report on Tuesday, June 11th. Needham & Company LLC restated a “buy” rating and set a $220.00 price target on shares of Apple in a research report on Tuesday, June 11th. Canaccord Genuity Group upped their price target on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Saturday, May 4th. JPMorgan Chase & Co. lifted their price objective on Apple from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. Finally, Wedbush upped their target price on Apple from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $209.38.

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.