GoalFusion Wealth Management LLC Makes New $1.18 Million Investment in Apple Inc. $AAPL

Key Points

• GoalFusion Wealth Management LLC invested approximately $1.18 million by acquiring 5,736 shares of Apple Inc. during the second quarter, making it the firm’s 13th largest position, representing 0.6% of its total portfolio.
• Equities analysts have mixed opinions on Apple's stock rating, with a consensus of four Strong Buy ratings, fifteen Buys, twelve Holds, and two Sells; the average target price for Apple is $248.29.
• In recent insider trading, CEO Timothy Cook sold approximately 130,000 shares of Apple stock for over $33 million, reducing his ownership stake by 3.81%.

GoalFusion Wealth Management LLC bought a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,736 shares of the iPhone maker's stock, valued at approximately $1,177,000. Apple comprises approximately 0.6% of GoalFusion Wealth Management LLC's investment portfolio, making the stock its 13th biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Ryan Investment Management Inc. bought a new stake in Apple during the second quarter valued at $31,000. ROSS JOHNSON & Associates LLC lifted its stake in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after purchasing an additional 180 shares during the period. Elite Financial Inc. bought a new stake in shares of Apple during the 1st quarter valued at about $58,000. LSV Asset Management acquired a new stake in Apple during the fourth quarter worth approximately $65,000. Finally, HFM Investment Advisors LLC bought a new stake in Apple in the first quarter worth approximately $99,000. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AAPL shares. CLSA upgraded Apple to a "strong-buy" rating in a report on Sunday, October 5th. UBS Group reiterated a "neutral" rating on shares of Apple in a research report on Monday, September 8th. Melius Research set a $290.00 price target on shares of Apple and gave the stock a "buy" rating in a report on Wednesday, September 10th. Jefferies Financial Group cut shares of Apple from a "hold" rating to an "underperform" rating and cut their price objective for the stock from $205.82 to $205.16 in a research report on Friday, October 3rd. Finally, Barclays raised their target price on Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research note on Friday, August 1st. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Apple has an average rating of "Moderate Buy" and a consensus target price of $248.29.

Apple Stock Performance

Shares of Apple stock opened at $245.27 on Friday. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The business has a 50 day moving average price of $237.61 and a 200-day moving average price of $215.88. The company has a market cap of $3.64 trillion, a PE ratio of 37.22, a price-to-earnings-growth ratio of 2.39 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. During the same quarter last year, the firm earned $1.40 EPS. The company's quarterly revenue was up 9.6% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's payout ratio is currently 15.78%.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of the firm's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the transaction, the chief executive officer owned 3,280,295 shares in the company, valued at $842,412,558.95. This trade represents a 3.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Deirdre O'brien sold 43,013 shares of the business's stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the transaction, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,922 shares of company stock valued at $64,320,190 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

Apple Company Profile

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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