Apple Inc. $AAPL Shares Bought by Legacy Wealth Advisors LLC

Legacy Wealth Advisors LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 24.6% in the first quarter, HoldingsChannel reports. The fund owned 22,483 shares of the iPhone maker’s stock after buying an additional 4,445 shares during the period. Apple accounts for approximately 2.9% of Legacy Wealth Advisors LLC’s investment portfolio, making the stock its 7th largest holding. Legacy Wealth Advisors LLC’s holdings in Apple were worth $5,706,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Reyes Financial Architecture Inc. boosted its stake in shares of Apple by 0.4% in the 3rd quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock valued at $2,520,000 after purchasing an additional 37 shares during the last quarter. WESPAC Advisors LLC raised its stake in shares of Apple by 0.3% during the fourth quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker’s stock worth $3,351,000 after buying an additional 39 shares during the last quarter. Interactive Financial Advisors Inc. raised its stake in shares of Apple by 4.0% during the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock worth $286,000 after buying an additional 40 shares during the last quarter. Sugar Maple Asset Management LLC lifted its holdings in Apple by 2.0% in the first quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker’s stock valued at $515,000 after buying an additional 40 shares during the period. Finally, Orion Investment Co lifted its holdings in Apple by 0.3% in the fourth quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker’s stock valued at $3,902,000 after buying an additional 41 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Price Performance

Shares of AAPL stock opened at $303.42 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Apple Inc. has a 12-month low of $201.68 and a 12-month high of $344.57. The firm has a fifty day moving average of $309.40 and a 200-day moving average of $281.90. The firm has a market capitalization of $4.46 trillion, a price-to-earnings ratio of 34.80, a price-to-earnings-growth ratio of 2.65 and a beta of 1.09.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping the consensus estimate of $1.89 by $0.13. The business had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.The firm’s revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.57 EPS. On average, equities research analysts forecast that Apple Inc. will post 8.8 earnings per share for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is currently 12.39%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AAPL. Barclays reaffirmed an “underweight” rating and issued a $245.00 price objective (down from $253.00) on shares of Apple in a research note on Friday. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research note on Friday. Wedbush restated an “outperform” rating and issued a $400.00 price target on shares of Apple in a research report on Friday, June 5th. KGI Securities cut Apple from an “outperform” rating to a “hold” rating and set a $315.00 price objective for the company. in a research note on Monday, June 22nd. Finally, Oppenheimer reiterated a “market perform” rating on shares of Apple in a report on Friday. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $331.60.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: India proposed extending tax exemptions through 2041 for foreign companies supplying equipment to contract manufacturers. The policy could lower Apple’s manufacturing costs and support its strategy of shifting more iPhone production to India. India proposes extending tax breaks for contract manufacturing in a boost for Apple
• Positive Sentiment: Apple continues to generate substantial free cash flow, with analysts expecting strong cash generation to continue alongside higher revenue forecasts. This supports shareholder returns and provides financial flexibility, although the stock’s valuation limits the upside case. Apple Delivers Strong Free Cash Flow, But What is the Best AAPL Play?
• Positive Sentiment: A reported deal with PlasmaSolve could help Apple develop thinner, stronger device finishes by using software simulations before factory testing, potentially improving manufacturing yields and reducing testing costs. Apple Stock Drops as PlasmaSolve Deal Targets Thinner and Stronger Devices

Insider Buying and Selling at Apple

In other news, insider Ben Borders sold 1,274 shares of Apple stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction of $369,460.00. Following the transaction, the insider owned 38,713 shares in the company, valued at $11,226,770. The trade was a 3.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by company insiders.

Apple Company Profile

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.