My Legacy Advisors LLC Invests $9.07 Million in Apple Inc. (NASDAQ:AAPL)

My Legacy Advisors LLC purchased a new position in shares of Apple Inc. (NASDAQ:AAPL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 43,069 shares of the iPhone maker’s stock, valued at approximately $9,071,000. Apple accounts for about 2.9% of My Legacy Advisors LLC’s holdings, making the stock its 5th largest position.

A number of other institutional investors have also recently added to or reduced their stakes in AAPL. Yeomans Consulting Group Inc. purchased a new stake in Apple during the 4th quarter worth approximately $1,713,000. Raleigh Capital Management Inc. grew its position in shares of Apple by 11.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock worth $2,986,000 after buying an additional 1,643 shares in the last quarter. GLOBALT Investments LLC GA acquired a new stake in shares of Apple during the fourth quarter worth approximately $38,406,000. Barden Capital Management Inc. increased its stake in shares of Apple by 132.8% in the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after buying an additional 18,615 shares during the last quarter. Finally, Sunpointe LLC acquired a new stake in Apple in the fourth quarter valued at $4,782,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of several research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $261.00 price target on shares of Apple in a research report on Tuesday, September 10th. Piper Sandler Companies reiterated a “neutral” rating and issued a $225.00 target price (up previously from $190.00) on shares of Apple in a research report on Tuesday, July 9th. Robert W. Baird raised their price objective on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Raymond James lifted their price objective on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Tigress Financial increased their target price on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.76.

Apple Trading Down 0.4 %

Shares of Apple stock opened at $226.37 on Thursday. The business has a fifty day simple moving average of $222.10 and a 200-day simple moving average of $201.22. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The firm has a market cap of $3.47 trillion, a price-to-earnings ratio of 35.21, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. Apple’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.26 EPS. On average, equities analysts forecast that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is 15.55%.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Chris Kondo sold 8,706 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,884 shares of company stock valued at $23,723,887. Corporate insiders own 0.06% of the company’s stock.

About Apple

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.