Legacy Wealth Management Inc Grows Holdings in Apple Inc. (NASDAQ:AAPL)

Legacy Wealth Management Inc raised its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 224.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,247 shares of the iPhone maker's stock after acquiring an additional 2,246 shares during the quarter. Apple makes up approximately 0.0% of Legacy Wealth Management Inc's portfolio, making the stock its 21st biggest position. Legacy Wealth Management Inc's holdings in Apple were worth $757,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AAPL. Lantz Financial LLC lifted its stake in Apple by 8.6% in the second quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker's stock worth $6,266,000 after acquiring an additional 2,361 shares during the last quarter. Cherrydale Wealth Management LLC increased its holdings in shares of Apple by 27.4% in the 2nd quarter. Cherrydale Wealth Management LLC now owns 12,343 shares of the iPhone maker's stock valued at $2,600,000 after acquiring an additional 2,658 shares during the last quarter. Pacifica Partners Inc. raised its position in shares of Apple by 0.6% during the 2nd quarter. Pacifica Partners Inc. now owns 63,404 shares of the iPhone maker's stock worth $14,046,000 after acquiring an additional 405 shares in the last quarter. Ellenbecker Investment Group increased its stake in Apple by 0.4% in the second quarter. Ellenbecker Investment Group now owns 36,816 shares of the iPhone maker's stock valued at $7,754,000 after purchasing an additional 155 shares during the last quarter. Finally, Worth Asset Management LLC raised its holdings in Apple by 0.8% during the second quarter. Worth Asset Management LLC now owns 19,185 shares of the iPhone maker's stock worth $4,041,000 after purchasing an additional 143 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Price Performance

Shares of NASDAQ AAPL traded down $3.39 during trading on Monday, hitting $252.20. 35,435,137 shares of the company were exchanged, compared to its average volume of 57,203,777. The firm's fifty day moving average price is $237.41 and its 200 day moving average price is $227.89. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The company has a market cap of $3.81 trillion, a price-to-earnings ratio of 41.48, a PEG ratio of 2.41 and a beta of 1.23. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the previous year, the firm earned $1.46 earnings per share. The firm's revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Friday, November 8th. Apple's payout ratio is currently 16.45%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Bank of America upped their target price on shares of Apple to $256.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Needham & Company LLC restated a "buy" rating and issued a $260.00 price objective on shares of Apple in a research note on Tuesday, December 10th. Morgan Stanley reiterated an "overweight" rating and set a $273.00 target price on shares of Apple in a research report on Friday, December 13th. Barclays reduced their target price on Apple from $186.00 to $184.00 and set an "underweight" rating for the company in a report on Friday, November 1st. Finally, Wells Fargo & Company raised their price target on Apple to $275.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $237.47.

Insider Buying and Selling

In other news, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the sale, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares of the company's stock, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 508,170 shares of company stock valued at $117,004,745. 0.06% of the stock is owned by insiders.

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.