Legacy Private Trust Co. Boosts Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Legacy Private Trust Co. boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 179,826 shares of the iPhone maker’s stock after buying an additional 2,511 shares during the quarter. Apple accounts for 2.8% of Legacy Private Trust Co.’s investment portfolio, making the stock its 6th biggest holding. Legacy Private Trust Co.’s holdings in Apple were worth $41,899,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. grew its position in Apple by 127.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock worth $12,943,000 after purchasing an additional 42,282 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Apple by 0.4% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 506,642 shares of the iPhone maker’s stock valued at $86,879,000 after acquiring an additional 1,936 shares during the last quarter. Tobam lifted its stake in shares of Apple by 3.9% in the 1st quarter. Tobam now owns 21,459 shares of the iPhone maker’s stock valued at $3,680,000 after purchasing an additional 810 shares during the period. BNP Paribas bought a new stake in Apple in the first quarter valued at approximately $88,000,000. Finally, Alliance Wealth Management Group increased its holdings in shares of Apple by 2.6% in the first quarter. Alliance Wealth Management Group now owns 30,094 shares of the iPhone maker’s stock worth $5,160,000 after acquiring an additional 755 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $229.87 on Monday. The firm has a 50 day moving average of $227.73 and a 200 day moving average of $218.30. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $3.47 trillion, a price-to-earnings ratio of 37.81, a price-to-earnings-growth ratio of 2.24 and a beta of 1.24.

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

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is presently 16.45%.

Analysts Set New Price Targets

A number of research firms have issued reports on AAPL. Melius Research reiterated a “buy” rating and set a $265.00 target price on shares of Apple in a report on Tuesday, August 27th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Loop Capital decreased their price objective on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Evercore ISI reissued a “buy” rating and set a $250.00 target price on shares of Apple in a report on Thursday, September 26th. Finally, Tigress Financial raised their target price on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $235.25.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares in the company, valued at approximately $111,148,695.84. This trade represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock worth $92,007,745 in the last three months. Company insiders own 0.06% of the company’s stock.

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.