Godshalk Welsh Capital Management Inc. Sells 1,775 Shares of Apple Inc. (NASDAQ:AAPL)

Godshalk Welsh Capital Management Inc. lowered its holdings in Apple Inc. (NASDAQ:AAPLFree Report) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,389 shares of the iPhone maker’s stock after selling 1,775 shares during the quarter. Apple accounts for about 5.6% of Godshalk Welsh Capital Management Inc.’s holdings, making the stock its 2nd biggest position. Godshalk Welsh Capital Management Inc.’s holdings in Apple were worth $7,776,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in AAPL. Wyrmwood Management LLC boosted its holdings in Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after buying an additional 69 shares in the last quarter. Gilfoyle & Co LLC boosted its stake in shares of Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after acquiring an additional 118 shares in the last quarter. PayPay Securities Corp grew its holdings in shares of Apple by 70.2% in the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after acquiring an additional 210 shares during the period. Friedenthal Financial purchased a new position in Apple in the 4th quarter valued at approximately $111,000. Finally, Cordant Inc. raised its holdings in Apple by 27.7% during the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after purchasing an additional 140 shares during the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Up 1.2 %

Shares of NASDAQ:AAPL opened at $196.89 on Friday. The stock has a 50-day simple moving average of $179.90 and a 200-day simple moving average of $183.48. The stock has a market capitalization of $3.02 trillion, a P/E ratio of 30.62, a PEG ratio of 2.39 and a beta of 1.25. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $199.62. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04.

Apple (NASDAQ:AAPLGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The company had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. During the same period in the previous year, the firm earned $1.52 earnings per share. Apple’s revenue for the quarter was down 4.3% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 6.57 earnings per share for the current year.

Apple announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 2nd that allows the company to buyback $110.00 billion in shares. This buyback authorization allows the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 10th. This is a positive change from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 0.51%. Apple’s dividend payout ratio (DPR) is 15.55%.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at $574,260,512.21. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the transaction, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the transaction, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The disclosure for this sale can be found here. Insiders have sold a total of 346,270 shares of company stock worth $60,880,196 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AAPL. Bank of America reissued a “buy” rating and issued a $230.00 target price on shares of Apple in a report on Wednesday, May 29th. Citigroup dropped their target price on shares of Apple from $220.00 to $210.00 and set a “buy” rating for the company in a report on Monday, April 29th. UBS Group reaffirmed a “hold” rating and issued a $190.00 price target on shares of Apple in a report on Monday, March 25th. Rosenblatt Securities restated a “neutral” rating and set a $196.00 price objective (up from $189.00) on shares of Apple in a research report on Friday, May 3rd. Finally, Maxim Group started coverage on Apple in a research note on Wednesday, April 17th. They issued a “hold” rating and a $178.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $205.59.

Read Our Latest Stock Report on AAPL

About Apple

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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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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