Goodman Financial Corp Takes Position in Apple Inc. (NASDAQ:AAPL)

Goodman Financial Corp purchased a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,420 shares of the iPhone maker's stock, valued at approximately $2,609,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vinva Investment Management Ltd boosted its holdings in shares of Apple by 12.4% during the 4th quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker's stock valued at $192,700,000 after acquiring an additional 83,997 shares in the last quarter. Safe Harbor Fiduciary LLC bought a new position in Apple during the 3rd quarter worth $4,972,000. SYM FINANCIAL Corp raised its position in Apple by 6.3% during the 3rd quarter. SYM FINANCIAL Corp now owns 28,626 shares of the iPhone maker's stock worth $6,670,000 after purchasing an additional 1,695 shares during the last quarter. Tradewinds Capital Management LLC raised its position in Apple by 9.2% during the 4th quarter. Tradewinds Capital Management LLC now owns 21,198 shares of the iPhone maker's stock worth $5,308,000 after purchasing an additional 1,779 shares during the last quarter. Finally, Berkshire Bank raised its position in Apple by 2.7% during the 4th quarter. Berkshire Bank now owns 89,580 shares of the iPhone maker's stock worth $22,433,000 after purchasing an additional 2,360 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Insider Activity at Apple

In other Apple news, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction that occurred on 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 now directly owns 4,569 shares in the company, valued at $941,214. This represents a 50.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider now owns 15,533 shares in the company, valued at $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. In the last ninety days, insiders have sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

AAPL traded down $0.94 during midday trading on Friday, reaching $199.01. The company had a trading volume of 70,744,759 shares, compared to its average volume of 56,229,633. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The stock has a market cap of $2.97 trillion, a PE ratio of 31.59, a P/E/G ratio of 2.44 and a beta of 1.27. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The business has a 50-day moving average price of $203.10 and a two-hundred day moving average price of $225.02.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The company's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.53 earnings per share. On average, sell-side analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple announced that its board has initiated a stock buyback program on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a dividend of $0.26 per share. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio is presently 16.20%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AAPL. Rosenblatt Securities lowered Apple from a "buy" rating to a "neutral" rating and set a $217.00 price objective for the company. in a research report on Friday, May 2nd. Morgan Stanley reissued an "overweight" rating on shares of Apple in a research report on Monday, May 12th. Maxim Group lifted their price objective on Apple to $215.00 and gave the stock a "hold" rating in a research report on Friday, February 21st. Barclays lowered their price objective on Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Finally, Scotiabank lowered Apple to a "market perform" rating in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $235.80.

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.