Apple Inc. $AAPL is Goodman Advisory Group LLC’s 10th Largest Position

Goodman Advisory Group LLC grew its stake in Apple Inc. (NASDAQ:AAPL) by 53.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,815 shares of the iPhone maker’s stock after acquiring an additional 12,506 shares during the quarter. Apple accounts for 2.5% of Goodman Advisory Group LLC’s portfolio, making the stock its 10th biggest holding. Goodman Advisory Group LLC’s holdings in Apple were worth $7,348,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Baker Boyer National Bank raised its holdings in Apple by 0.3% in the second quarter. Baker Boyer National Bank now owns 18,011 shares of the iPhone maker’s stock worth $3,695,000 after buying an additional 47 shares during the last quarter. Beddow Capital Management Inc. increased its position in shares of Apple by 1.8% during the second quarter. Beddow Capital Management Inc. now owns 2,597 shares of the iPhone maker’s stock valued at $533,000 after acquiring an additional 47 shares in the last quarter. Red Tortoise LLC raised its holdings in Apple by 0.9% in the 2nd quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock worth $1,173,000 after acquiring an additional 49 shares during the last quarter. SigFig Wealth Management LLC lifted its position in Apple by 2.8% in the 2nd quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock valued at $368,000 after acquiring an additional 50 shares in the last quarter. Finally, Shariaportfolio Inc. boosted its stake in Apple by 1.3% during the 2nd quarter. Shariaportfolio Inc. now owns 3,999 shares of the iPhone maker’s stock valued at $820,000 after purchasing an additional 50 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $278.28 on Friday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $288.62. The firm has a market capitalization of $4.11 trillion, a price-to-earnings ratio of 37.25, a price-to-earnings-growth ratio of 2.60 and a beta of 1.10. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 1.06. The firm has a 50 day moving average of $268.24 and a 200 day moving average of $237.03.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.11. Apple had a net margin of 26.92% and a return on equity of 164.05%. The business had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. During the same period last year, the firm earned $1.64 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. On average, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Apple’s payout ratio is currently 13.92%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AAPL. Argus set a $325.00 price target on Apple and gave the stock a “buy” rating in a research note on Friday, October 31st. Monness Crespi & Hardt boosted their target price on Apple from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Moffett Nathanson raised shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target on the stock in a report on Thursday, September 4th. Citigroup reiterated a “buy” rating and issued a $330.00 price target (up from $315.00) on shares of Apple in a research note on Tuesday. Finally, Cowen restated a “buy” rating on shares of Apple in a research report on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $282.51.

Insiders Place Their Bets

In related news, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the sale, the senior vice president directly owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevan Parekh sold 4,199 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the sale, the chief financial officer owned 8,765 shares in the company, valued at approximately $2,168,373.35. The trade was a 32.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 228,052 shares of company stock valued at $58,604,588. 0.06% of the stock is currently owned by corporate insiders.

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.