Legacy CG LLC Decreases Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Legacy CG LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 7.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 23,331 shares of the iPhone maker’s stock after selling 1,860 shares during the quarter. Apple comprises approximately 1.8% of Legacy CG LLC’s holdings, making the stock its 24th largest holding. Legacy CG LLC’s holdings in Apple were worth $5,436,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Rational Advisors LLC grew its position in Apple by 0.6% in the third quarter. Rational Advisors LLC now owns 23,313 shares of the iPhone maker’s stock worth $5,432,000 after acquiring an additional 145 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its stake in Apple by 0.7% during the third quarter. Hazlett Burt & Watson Inc. now owns 52,190 shares of the iPhone maker’s stock worth $12,166,000 after buying an additional 374 shares during the period. Arlington Capital Management Inc. increased its position in Apple by 10.1% during the third quarter. Arlington Capital Management Inc. now owns 2,503 shares of the iPhone maker’s stock valued at $583,000 after acquiring an additional 229 shares during the last quarter. PDS Planning Inc raised its stake in shares of Apple by 1.6% in the third quarter. PDS Planning Inc now owns 99,602 shares of the iPhone maker’s stock valued at $23,207,000 after acquiring an additional 1,543 shares during the period. Finally, Leeward Financial Partners LLC boosted its holdings in Apple by 6.6% during the 3rd quarter. Leeward Financial Partners LLC now owns 45,139 shares of the iPhone maker’s stock valued at $10,517,000 after acquiring an additional 2,786 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of NASDAQ AAPL opened at $242.70 on Thursday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $3.67 trillion, a price-to-earnings ratio of 39.92, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20. The firm has a 50-day simple moving average of $239.57 and a 200-day simple moving average of $229.66.

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

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. Apple’s dividend payout ratio is currently 16.45%.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Piper Sandler reissued a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Evercore ISI reissued a “buy” rating and issued a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. Sanford C. Bernstein upped their price target on shares of Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Apple in a report on Tuesday, December 10th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $237.64.

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.