Legacy Wealth Management LLC MS Sells 4,779 Shares of Apple Inc. (NASDAQ:AAPL)
Legacy Wealth Management LLC MS reduced its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 6.5% during the fourth quarter, Holdings Channel reports. The firm owned 69,166 shares of the iPhone maker’s stock after selling 4,779 shares during the period. Apple makes up 6.9% of Legacy Wealth Management LLC MS’s portfolio, making the stock its 3rd largest holding. Legacy Wealth Management LLC MS’s holdings in Apple were worth $17,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bull Oak Capital LLC boosted its stake in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares in the last quarter. Hershey Financial Advisers LLC purchased a new stake in shares of Apple during the second quarter valued at $42,000. Christopher J. Hasenberg Inc boosted its position in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the period. SPX Gestao de Recursos Ltda purchased a new position in Apple in the 3rd quarter worth about $71,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in Apple during the 3rd quarter worth about $77,000. 67.73% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by company insiders.
Analysts Set New Price Targets
AAPL has been the topic of several research analyst reports. Bank of America lifted their price objective on shares of Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. The Goldman Sachs Group lifted their price target on Apple from $280.00 to $294.00 and gave the company a “buy” rating in a report on Friday, January 31st. Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and set a $230.00 price target on the stock. in a report on Tuesday, January 21st. Maxim Group lifted their price target on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Sanford C. Bernstein lifted their price target on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $242.52.
Read Our Latest Research Report on AAPL
Apple Stock Performance
NASDAQ:AAPL opened at $244.60 on Monday. The stock’s 50-day moving average is $240.70 and its 200-day moving average is $231.68. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The stock has a market cap of $3.67 trillion, a P/E ratio of 38.83, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.
Apple (NASDAQ:AAPL – Get Free Report) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.
Apple Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio is currently 15.87%.
Apple Company Profile
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.
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