Legacy Financial Strategies LLC Has $4.93 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Legacy Financial Strategies LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,751 shares of the iPhone maker’s stock after purchasing an additional 649 shares during the quarter. Apple makes up approximately 1.3% of Legacy Financial Strategies LLC’s holdings, making the stock its 11th biggest holding. Legacy Financial Strategies LLC’s holdings in Apple were worth $4,930,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Compass Financial Group INC SD increased its position in shares of Apple by 3.8% during the 1st quarter. Compass Financial Group INC SD now owns 14,893 shares of the iPhone maker’s stock worth $2,554,000 after purchasing an additional 543 shares in the last quarter. Lantz Financial LLC increased its position in shares of Apple by 6.3% during the 1st quarter. Lantz Financial LLC now owns 27,390 shares of the iPhone maker’s stock worth $4,697,000 after purchasing an additional 1,615 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services increased its position in shares of Apple by 2.1% during the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 73,725 shares of the iPhone maker’s stock worth $12,642,000 after purchasing an additional 1,512 shares in the last quarter. Wedmont Private Capital increased its position in shares of Apple by 0.6% during the 1st quarter. Wedmont Private Capital now owns 194,179 shares of the iPhone maker’s stock worth $32,946,000 after purchasing an additional 1,179 shares in the last quarter. Finally, St. Louis Financial Planners Asset Management LLC increased its position in shares of Apple by 10.1% during the 1st quarter. St. Louis Financial Planners Asset Management LLC now owns 11,857 shares of the iPhone maker’s stock worth $2,012,000 after purchasing an additional 1,089 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Down 1.0 %

Apple stock opened at $207.49 on Monday. The company’s 50 day simple moving average is $187.87 and its 200 day simple moving average is $184.75. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $220.20. The firm has a market capitalization of $3.18 trillion, a price-to-earnings ratio of 32.27, a PEG ratio of 2.55 and a beta of 1.25. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The business had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. During the same quarter last year, the firm earned $1.52 EPS. Apple’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple Inc. will post 6.58 EPS for the current year.

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

Apple Increases Dividend

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

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the transaction, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Apple news, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the transaction, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares in the company, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 346,270 shares of company stock valued at $60,880,196. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AAPL shares. Barclays reiterated an “underweight” rating and set a $164.00 target price on shares of Apple in a research report on Tuesday, June 11th. DA Davidson upgraded shares of Apple from a “neutral” rating to a “buy” rating and raised their price objective for the company from $200.00 to $230.00 in a research report on Tuesday, June 11th. DZ Bank restated a “hold” rating and issued a $180.00 price objective on shares of Apple in a research report on Thursday, March 28th. Rosenblatt Securities restated a “neutral” rating and issued a $196.00 price objective on shares of Apple in a research report on Tuesday, June 11th. Finally, Canaccord Genuity Group raised their price objective on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Saturday, May 4th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Apple currently 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.