Godsey & Gibb Inc. boosted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 160,783 shares of the iPhone maker's stock after purchasing an additional 4,890 shares during the period. Apple makes up approximately 3.5% of Godsey & Gibb Inc.'s portfolio, making the stock its biggest holding. Godsey & Gibb Inc.'s holdings in Apple were worth $35,715,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Regent Peak Wealth Advisors LLC increased its position in shares of Apple by 0.9% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 111,858 shares of the iPhone maker's stock worth $28,012,000 after acquiring an additional 1,050 shares in the last quarter. Tallon Kerry Patrick acquired a new stake in shares of Apple in the fourth quarter worth $1,877,000. First National Bank of Hutchinson grew its holdings in Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after purchasing an additional 6,982 shares in the last quarter. Capital & Planning LLC grew its holdings in Apple by 10.7% during the 4th quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock valued at $6,836,000 after purchasing an additional 2,647 shares in the last quarter. Finally, Uncommon Cents Investing LLC grew its holdings in Apple by 0.6% during the 4th quarter. Uncommon Cents Investing LLC now owns 10,457 shares of the iPhone maker's stock valued at $2,619,000 after purchasing an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.
Insider Activity
In related news, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares in the company, valued at $941,214. This trade represents a 50.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company's stock.
Apple Stock Performance
NASDAQ:AAPL traded up $0.06 during mid-day trading on Tuesday, hitting $210.01. The stock had a trading volume of 42,218,952 shares, compared to its average volume of 53,538,384. The stock has a market capitalization of $3.14 trillion, a price-to-earnings ratio of 32.71, a P/E/G ratio of 2.38 and a beta of 1.20. The company has a 50 day simple moving average of $203.34 and a 200-day simple moving average of $218.13. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.03. The firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. Apple's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the firm posted $1.53 EPS. On average, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple declared that its board has initiated a stock repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.
Apple Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a $0.26 dividend. The ex-dividend date was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.50%. Apple's dividend payout ratio (DPR) is currently 16.20%.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on AAPL. Citigroup reaffirmed a "buy" rating on shares of Apple in a report on Tuesday, June 10th. Scotiabank lowered shares of Apple to a "market perform" rating in a report on Friday, May 2nd. Barclays set a $173.00 price target on shares of Apple and gave the company an "underweight" rating in a report on Tuesday, June 24th. TD Cowen lowered their price target on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, UBS Group set a $210.00 price objective on shares of Apple and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $234.95.
Read Our Latest Stock Analysis on Apple
Apple Profile
(
Free Report)
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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