Godshalk Welsh Capital Management Inc. Reduces Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Godshalk Welsh Capital Management Inc. cut its stake in Apple Inc. (NASDAQ:AAPL) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,131 shares of the iPhone maker’s stock after selling 300 shares during the period. Apple makes up approximately 5.6% of Godshalk Welsh Capital Management Inc.’s holdings, making the stock its 2nd biggest position. Godshalk Welsh Capital Management Inc.’s holdings in Apple were worth $8,452,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Sandy Cove Advisors LLC boosted its position in shares of Apple by 16.6% during the 1st quarter. Sandy Cove Advisors LLC now owns 47,694 shares of the iPhone maker’s stock valued at $8,179,000 after acquiring an additional 6,796 shares in the last quarter. Deltec Asset Management LLC grew its stake in shares of Apple by 18.3% in the 1st quarter. Deltec Asset Management LLC now owns 25,004 shares of the iPhone maker’s stock valued at $4,288,000 after purchasing an additional 3,875 shares during the period. Strata Wealth Advisors LLC raised its holdings in shares of Apple by 31.3% in the 1st quarter. Strata Wealth Advisors LLC now owns 16,835 shares of the iPhone maker’s stock worth $2,887,000 after buying an additional 4,018 shares in the last quarter. WJ Wealth Management LLC boosted its stake in Apple by 3.8% in the 1st quarter. WJ Wealth Management LLC now owns 14,480 shares of the iPhone maker’s stock valued at $2,483,000 after buying an additional 536 shares in the last quarter. Finally, Clarity Wealth Advisors LLC grew its position in Apple by 0.5% in the first quarter. Clarity Wealth Advisors LLC now owns 126,294 shares of the iPhone maker’s stock valued at $21,657,000 after acquiring an additional 616 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of Apple stock opened at $227.48 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The business’s fifty day simple moving average is $226.91 and its 200 day simple moving average is $213.51. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The firm has a market capitalization of $3.44 trillion, a P/E ratio of 37.41, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the business posted $1.46 earnings per share. As a group, analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several recent analyst reports. Loop Capital reduced their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday. JPMorgan Chase & Co. reissued an “overweight” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, September 10th. Piper Sandler restated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. The Goldman Sachs Group raised their price target on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Oppenheimer reissued a “buy” rating and set a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $235.51.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Apple news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the transaction, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at $42,309,126.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 412,746 shares of company stock valued at $93,021,362 over the last 90 days. Insiders own 0.06% of the company’s stock.

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.