Atlas Legacy Advisors LLC Takes $9.63 Million Position in Apple Inc. (NASDAQ:AAPL)

Atlas Legacy Advisors LLC acquired a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 38,444 shares of the iPhone maker's stock, valued at approximately $9,627,000. Apple makes up about 2.3% of Atlas Legacy Advisors LLC's investment portfolio, making the stock its 13th largest position.

Other large investors have also added to or reduced their stakes in the company. Drystone LLC bought a new stake in Apple during the fourth quarter valued at $25,000. Life Planning Partners Inc purchased a new stake in shares of Apple in the 4th quarter valued at about $47,000. SPX Gestao de Recursos Ltda bought a new stake in shares of Apple during the 3rd quarter valued at about $71,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Apple during the third quarter worth about $77,000. Finally, ARK Investment Management LLC bought a new position in shares of Apple in the third quarter worth approximately $110,000. Institutional investors own 67.73% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on AAPL. Morgan Stanley dropped their target price on shares of Apple from $252.00 to $220.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Maxim Group upped their target price on shares of Apple to $215.00 and gave the stock a "hold" rating in a research report on Friday, February 21st. Loop Capital downgraded Apple from a "buy" rating to a "hold" rating and set a $230.00 price target on the stock. in a research report on Tuesday, January 21st. China Renaissance assumed coverage on Apple in a report on Tuesday. They issued a "buy" rating and a $241.00 price objective for the company. Finally, Oppenheimer cut Apple from an "outperform" rating to a "market perform" rating in a report on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $233.88.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the sale, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. This trade represents a 3.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Katherine L. Adams sold 38,822 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the transaction, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. The trade was a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 182,451 shares of company stock worth $40,818,720 in the last three months. Insiders own 0.06% of the company's stock.

Apple Trading Up 1.8 %

NASDAQ AAPL opened at $208.37 on Friday. Apple Inc. has a 12 month low of $168.15 and a 12 month high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock's fifty day moving average price is $216.41 and its 200-day moving average price is $229.42. The stock has a market cap of $3.13 trillion, a P/E ratio of 33.07, a P/E/G ratio of 2.44 and a beta of 1.26.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data 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 net margin of 24.30% and a return on equity of 160.83%. As a group, equities analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, February 10th. Apple's dividend payout ratio (DPR) is currently 15.87%.

Apple 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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.