Apple Inc. $AAPL is Godsey & Gibb Inc.'s 2nd Largest Position

Key Points

• Godsey & Gibb Inc. trimmed its Apple stake by 1.9% in the fourth quarter, but Apple remains its 2nd-largest holding and represents 3.8% of its portfolio.
• Apple reported better-than-expected quarterly results, with earnings of $2.01 per share and revenue of $111.18 billion, both topping analyst estimates. Revenue rose 16.6% from a year earlier.
• The company also raised its quarterly dividend to $0.27 per share from $0.26, while analysts and recent news remain broadly positive, including higher price targets and continued optimism around Apple’s rally.

Godsey & Gibb Inc. decreased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 156,158 shares of the iPhone maker's stock after selling 3,043 shares during the quarter. Apple makes up 3.8% of Godsey & Gibb Inc.'s portfolio, making the stock its 2nd biggest holding. Godsey & Gibb Inc.'s holdings in Apple were worth $42,453,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Overbrook Management Corp boosted its stake in shares of Apple by 57.4% in the fourth quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker's stock worth $28,449,000 after acquiring an additional 38,174 shares during the period. Citizens Financial Group Inc. RI boosted its stake in Apple by 48.4% during the third quarter. Citizens Financial Group Inc. RI now owns 1,426,605 shares of the iPhone maker's stock valued at $363,256,000 after buying an additional 465,393 shares during the last quarter. Tufton Capital Management boosted its stake in Apple by 4.3% during the third quarter. Tufton Capital Management now owns 100,130 shares of the iPhone maker's stock valued at $25,496,000 after buying an additional 4,157 shares during the last quarter. Montis Financial LLC boosted its stake in Apple by 15.8% during the third quarter. Montis Financial LLC now owns 77,919 shares of the iPhone maker's stock valued at $19,841,000 after buying an additional 10,640 shares during the last quarter. Finally, KBC Group NV boosted its stake in Apple by 3.1% during the fourth quarter. KBC Group NV now owns 7,044,697 shares of the iPhone maker's stock valued at $1,915,172,000 after buying an additional 214,215 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Performance

NASDAQ:AAPL opened at $300.23 on Friday. The stock's fifty day moving average is $265.37 and its 200 day moving average is $267.48. Apple Inc. has a fifty-two week low of $193.46 and a fifty-two week high of $303.20. The firm has a market capitalization of $4.41 trillion, a PE ratio of 36.30, a PEG ratio of 2.60 and a beta of 1.06. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. During the same quarter in the prior year, the firm posted $1.65 EPS. Apple's quarterly revenue was up 16.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, May 11th. This is a boost from Apple's previous quarterly dividend of $0.26. Apple's payout ratio is currently 13.06%.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s post-earnings rally continues after the company posted record quarterly revenue and EPS, boosted its dividend, and authorized a fresh $100 billion buyback. Analysts say the results support further upside and have raised price targets. Apple Stock Hits All-Time High as Post-Earnings Rally Continues
• Positive Sentiment: Evercore ISI lifted its price target on Apple to $365 and said a bull-case scenario could reach $500, citing compounding growth from Services and Apple’s ability to keep expanding free cash flow. Evercore ISI Hikes Apple Price Target to $365
• Positive Sentiment: Investor sentiment is being helped by reports that iPhone demand remains strong globally, plus Soros Fund Management reportedly boosted its Apple position during the quarter. George Soros’s fund buys Berkshire Hathaway stock — now that Buffett is gone
• Positive Sentiment: Apple reportedly cut iPhone 17 prices in China ahead of the 618 shopping festival, which could help support unit sales in a key market. Apple Cuts iPhone 17 Prices in China
• Neutral Sentiment: OpenAI is considering legal action over its strained ChatGPT partnership with Apple, which adds uncertainty around Apple’s AI strategy and could weigh on sentiment if the dispute escalates. OpenAI explores legal options against Apple
• Neutral Sentiment: Reports that Anthropic’s Mythos AI found vulnerabilities in Apple’s macOS/iOS are a reminder of ongoing security scrutiny, but the news is more reputational than fundamentally financial for now. Anthropic's Mythos Helped Find Bugs in Apple's Desktop Operating System

Insider Buying and Selling

In related news, insider Ben Borders sold 1,274 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction of $369,460.00. Following the sale, the insider owned 38,713 shares in the company, valued at approximately $11,226,770. This represents a 3.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 64,949 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total value of $16,511,984.27. Following the sale, the chief executive officer owned 3,280,418 shares in the company, valued at $833,980,668.14. The trade was a 1.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 97,759 shares of company stock worth $24,964,305. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. KGI Securities raised Apple to an "outperform" rating and set a $306.00 price target for the company in a research note on Friday, January 30th. Stephens set a $315.00 price target on Apple in a research note on Monday, January 26th. Stifel Nicolaus set a $330.00 price target on Apple in a research note on Monday, March 2nd. Robert W. Baird set a $310.00 price target on Apple in a research note on Friday, May 1st. Finally, Bank of America increased their price target on Apple from $320.00 to $325.00 and gave the company a "buy" rating in a research note on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $308.74.

Apple Company Profile

Apple Inc NASDAQ: AAPL is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple's principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.