Legacy Capital Wealth Partners LLC Makes New Investment in Apple Inc. (NASDAQ:AAPL)

Legacy Capital Wealth Partners LLC bought a new position in shares of Apple Inc. (NASDAQ:AAPL) during the second quarter, Holdings Channel.com reports. The firm bought 1,628 shares of the iPhone maker’s stock, valued at approximately $223,000. Apple comprises 0.1% of Legacy Capital Wealth Partners LLC’s investment portfolio, making the stock its 23rd largest position.

Other hedge funds have also recently bought and sold shares of the company. Opal Wealth Advisors LLC grew its stake in shares of Apple by 24.8% in the 2nd quarter. Opal Wealth Advisors LLC now owns 26,021 shares of the iPhone maker’s stock worth $3,564,000 after buying an additional 5,177 shares during the last quarter. Budros Ruhlin & Roe Inc. grew its stake in shares of Apple by 4.8% in the 1st quarter. Budros Ruhlin & Roe Inc. now owns 170,753 shares of the iPhone maker’s stock worth $20,858,000 after buying an additional 7,761 shares during the last quarter. SPC Financial Inc. grew its stake in shares of Apple by 135.1% in the 2nd quarter. SPC Financial Inc. now owns 37,990 shares of the iPhone maker’s stock worth $5,203,000 after buying an additional 21,830 shares during the last quarter. United Fire Group Inc. purchased a new stake in shares of Apple in the 2nd quarter worth approximately $4,931,000. Finally, Fernwood Investment Management LLC grew its stake in shares of Apple by 1.9% in the 2nd quarter. Fernwood Investment Management LLC now owns 65,432 shares of the iPhone maker’s stock worth $8,962,000 after buying an additional 1,201 shares during the last quarter. Hedge funds and other institutional investors own 56.38% of the company’s stock.

AAPL traded up $2.66 on Thursday, hitting $143.57. The company had a trading volume of 2,272,768 shares, compared to its average volume of 90,397,281. The company has a market cap of $2.37 trillion, a PE ratio of 28.05, a PEG ratio of 2.10 and a beta of 1.20. Apple Inc. has a 12-month low of $107.32 and a 12-month high of $157.26. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 1.65. The business’s fifty day simple moving average is $147.30 and its 200 day simple moving average is $138.23.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Monday, July 26th. The iPhone maker reported $1.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.29. The company had revenue of $81.40 billion during the quarter, compared to analyst estimates of $73.48 billion. Apple had a return on equity of 131.01% and a net margin of 25.00%. The firm’s revenue was up 36.4% on a year-over-year basis. During the same quarter last year, the business posted $0.64 earnings per share. On average, analysts anticipate that Apple Inc. will post 5.59 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 12th. Investors of record on Monday, August 9th were given a $0.22 dividend. The ex-dividend date was Friday, August 6th. This represents a $0.88 annualized dividend and a yield of 0.61%. Apple’s dividend payout ratio is currently 26.83%.

Several analysts recently weighed in on AAPL shares. Tigress Financial upped their price target on Apple from $182.00 to $198.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 22nd. DA Davidson upped their price target on Apple from $167.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, July 28th. UBS Group set a $175.00 price target on Apple in a research note on Wednesday, October 6th. Loop Capital increased their target price on Apple from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. Finally, Evercore ISI upgraded Apple to a “buy” rating and set a $180.00 target price on the stock in a research note on Friday, September 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Apple presently has an average rating of “Buy” and an average price target of $164.41.

In other Apple news, SVP Deirdre O’brien sold 89,437 shares of the firm’s stock in a transaction dated Monday, October 4th. The shares were sold at an average price of $138.83, for a total value of $12,416,538.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 165,829 shares of the firm’s stock in a transaction dated Monday, October 4th. The stock was sold at an average price of $138.83, for a total transaction of $23,022,040.07. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,673,583 shares of company stock valued at $394,667,857. 0.06% of the stock is currently owned by company insiders.

About Apple

Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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