Apple Inc. (NASDAQ:AAPL) Shares Sold by Legacy Bridge LLC

Legacy Bridge LLC reduced its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 5.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,148 shares of the iPhone maker’s stock after selling 1,100 shares during the period. Apple makes up about 2.1% of Legacy Bridge LLC’s holdings, making the stock its 2nd largest holding. Legacy Bridge LLC’s holdings in Apple were worth $3,518,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Elk River Wealth Management LLC lifted its holdings in Apple by 49.0% during the 1st quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after buying an additional 54,989 shares during the last quarter. Piscataqua Savings Bank grew its position in shares of Apple by 1.5% in the 1st quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock valued at $8,302,000 after buying an additional 684 shares during the last quarter. Fountainhead AM LLC raised its stake in Apple by 11.6% during the 4th quarter. Fountainhead AM LLC now owns 45,544 shares of the iPhone maker’s stock worth $7,732,000 after acquiring an additional 4,738 shares in the last quarter. Primoris Wealth Advisors LLC purchased a new stake in Apple in the fourth quarter valued at $4,282,000. Finally, Red Door Wealth Management LLC boosted its stake in Apple by 3.3% in the first quarter. Red Door Wealth Management LLC now owns 96,983 shares of the iPhone maker’s stock valued at $16,934,000 after acquiring an additional 3,087 shares in the last quarter. 57.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AAPL has been the topic of several research analyst reports. Morgan Stanley cut their price target on Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Barclays upped their price target on Apple from $166.00 to $169.00 and gave the stock a “maintains” rating in a research note on Friday, July 29th. Evercore ISI lifted their price objective on shares of Apple from $180.00 to $185.00 in a research report on Friday, July 29th. Deutsche Bank Aktiengesellschaft set a $175.00 price objective on shares of Apple in a research note on Monday. Finally, UBS Group set a $185.00 target price on shares of Apple in a research note on Thursday, July 21st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.16.

Apple Stock Down 0.9 %

AAPL opened at $160.01 on Wednesday. The firm has a market cap of $2.59 trillion, a P/E ratio of 26.40, a PEG ratio of 2.11 and a beta of 1.23. The business’s fifty day simple moving average is $145.07 and its 200 day simple moving average is $157.14. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The business had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.30 earnings per share. As a group, equities research analysts anticipate that Apple Inc. will post 6.08 EPS for the current fiscal year.

Apple declared that its board has approved a stock buyback plan on Thursday, April 28th that allows the company to repurchase $90.00 billion in shares. This repurchase authorization allows the iPhone maker to purchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Friday, August 5th. Apple’s dividend payout ratio is presently 15.18%.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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