Godshalk Welsh Capital Management Inc. Has $9.28 Million Stake in Apple Inc. (NASDAQ:AAPL)

Godshalk Welsh Capital Management Inc. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,061 shares of the iPhone maker's stock after selling 1,545 shares during the period. Apple comprises approximately 6.0% of Godshalk Welsh Capital Management Inc.'s investment portfolio, making the stock its largest holding. Godshalk Welsh Capital Management Inc.'s holdings in Apple were worth $9,281,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AAPL. Providence Capital Advisors LLC raised its stake in shares of Apple by 1.2% during the 3rd quarter. Providence Capital Advisors LLC now owns 67,598 shares of the iPhone maker's stock worth $15,750,000 after purchasing an additional 770 shares during the period. MayTech Global Investments LLC raised its stake in shares of Apple by 13.0% during the 3rd quarter. MayTech Global Investments LLC now owns 194,132 shares of the iPhone maker's stock worth $45,233,000 after purchasing an additional 22,284 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Apple by 4.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,039,914 shares of the iPhone maker's stock worth $1,873,300,000 after purchasing an additional 308,469 shares during the period. Fiduciary Trust Co raised its stake in Apple by 0.5% in the 3rd quarter. Fiduciary Trust Co now owns 1,602,167 shares of the iPhone maker's stock valued at $373,305,000 after acquiring an additional 8,651 shares during the period. Finally, Public Sector Pension Investment Board raised its stake in Apple by 15.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 4,080,886 shares of the iPhone maker's stock valued at $950,846,000 after acquiring an additional 556,375 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Bank of America lowered their price objective on Apple from $250.00 to $240.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. TD Cowen lowered their price objective on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Citigroup restated a "cautious" rating on shares of Apple in a research note on Monday, May 5th. Jefferies Financial Group restated an "underperform" rating and issued a $170.62 price objective (up from $167.88) on shares of Apple in a research note on Friday, May 2nd. Finally, UBS Group restated a "buy" rating on shares of Apple in a research note on Sunday, June 1st. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $235.02.

Insiders Place Their Bets

In other news, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the sale, the chief operating officer now owns 390,059 shares of the company's stock, valued at approximately $87,377,116.59. This represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the sale, the senior vice president now directly owns 179,158 shares of the company's stock, valued at approximately $40,072,269.86. This trade represents a 17.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock valued at $42,694,080 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Apple Price Performance

AAPL traded up $3.29 during midday trading on Friday, hitting $203.92. The stock had a trading volume of 46,477,335 shares, compared to its average volume of 56,154,463. The company has a market cap of $3.05 trillion, a P/E ratio of 32.37, a price-to-earnings-growth ratio of 2.44 and a beta of 1.22. The business has a fifty day moving average of $201.17 and a 200 day moving average of $224.15. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.03. The business had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. Apple's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.53 earnings per share. As a group, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.51%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is currently 16.20%.

Apple announced that its board has authorized a share repurchase plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

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.