Godfrey Financial Associates Inc. Takes Position in Apple Inc. $AAPL

Godfrey Financial Associates Inc. bought a new stake in Apple Inc. (NASDAQ:AAPL – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,163 shares of the iPhone maker’s stock, valued at approximately $860,000. Apple accounts for approximately 0.7% of Godfrey Financial Associates Inc.’s investment portfolio, making the stock its 23rd biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sellwood Investment Partners LLC raised its position in Apple by 110.9% in the third quarter. Sellwood Investment Partners LLC now owns 135 shares of the iPhone maker’s stock valued at $34,000 after purchasing an additional 71 shares during the period. ROSS JOHNSON & Associates LLC raised its position in Apple by 1,800.0% in the first 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. LSV Asset Management purchased a new stake in Apple in the fourth quarter valued at approximately $65,000. PayPay Securities Corp raised its position in Apple by 52.1% in the fourth quarter. PayPay Securities Corp now owns 365 shares of the iPhone maker’s stock valued at $99,000 after purchasing an additional 125 shares during the period. Finally, eCIO Inc. purchased a new stake in Apple in the fourth quarter valued at approximately $112,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

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Insider Activity

In related news, insider Ben Borders sold 1,274 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the transaction, the insider owned 38,713 shares in the company, valued at approximately $11,226,770. The trade was a 3.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 30,002 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the transaction, the senior vice president owned 136,810 shares of the company’s stock, valued at approximately $34,934,433.50. The trade was a 17.99% 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. In the last three months, insiders have sold 97,759 shares of company stock worth $24,964,305. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Stifel Nicolaus set a $330.00 target price on Apple in a research report on Monday, March 2nd. Tigress Financial reissued a “strong-buy” rating and issued a $375.00 target price (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. Jefferies Financial Group reissued a “hold” rating on shares of Apple in a research report on Tuesday. BNP Paribas Exane raised Apple from a “neutral” rating to an “outperform” rating and set a $300.00 target price on the stock in a research report on Friday, April 17th. Finally, Oppenheimer reissued a “market perform” rating on shares of Apple in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $314.59.

Check Out Our Latest Report on AAPL

Apple Stock Performance

Shares of AAPL stock opened at $290.55 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The firm has a fifty day moving average price of $283.19 and a 200 day moving average price of $271.79. The company has a market cap of $4.27 trillion, a P/E ratio of 35.13, a PEG ratio of 2.63 and a beta of 1.09. Apple Inc. has a 12 month low of $195.07 and a 12 month high of $317.40.

Apple (NASDAQ:AAPL – Get Free Report) last issued its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. The firm had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The company’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.65 earnings per share. Sell-side analysts predict that Apple Inc. will post 8.74 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 14th. Investors of record on Monday, May 11th were paid a dividend of $0.27 per share. The ex-dividend date was Monday, May 11th. This is an increase from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s payout ratio is presently 13.06%.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Negative Sentiment: Investors were disappointed that Siri’s AI overhaul still appears behind rivals, with launch timing stretching into later this year and some features limited to the U.S. at first. Apple shares slide after big Siri AI reveal
• Negative Sentiment: Analysts warned that Apple is relying on Google Gemini/Nvidia infrastructure for parts of its advanced AI stack, raising questions about how much of the AI value capture Apple keeps in-house. Apple failed to make its AI tool to comply to EU regulations, EU Commission says
• Negative Sentiment: Morgan Stanley said the new Siri features may be held back by older iPhones, limiting the near-term upgrade cycle and the addressable installed base. Apple’s AI Siri will be held back by aging devices, Morgan Stanley says

About Apple

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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.

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