LaFleur & Godfrey LLC Cuts Position in Apple Inc. (NASDAQ:AAPL)

LaFleur & Godfrey LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 10.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 242,857 shares of the iPhone maker’s stock after selling 27,528 shares during the period. Apple makes up 6.2% of LaFleur & Godfrey LLC’s investment portfolio, making the stock its largest holding. LaFleur & Godfrey LLC’s holdings in Apple were worth $41,645,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. Wyrmwood Management LLC lifted its position in Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after acquiring an additional 69 shares during the period. A.P. Gilfoyle & Co. L.P. purchased a new position in Apple in the fourth quarter worth about $39,000. Gilfoyle & Co LLC raised its holdings in Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after buying an additional 118 shares during the last quarter. University of Texas Texas AM Investment Managment Co. raised its holdings in Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after buying an additional 368 shares during the last quarter. Finally, Clarity Asset Management Inc. purchased a new position in Apple in the fourth quarter worth about $85,000. Institutional investors own 60.41% of the company’s stock.

Apple Price Performance

Shares of AAPL stock traded up $1.31 during mid-day trading on Tuesday, hitting $192.35. The company had a trading volume of 41,950,599 shares, compared to its average volume of 61,352,930. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $199.62. The stock’s 50 day moving average price is $174.49 and its 200-day moving average price is $182.76. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. The company has a market capitalization of $2.95 trillion, a P/E ratio of 29.90, a P/E/G ratio of 2.28 and a beta of 1.26.

Apple (NASDAQ:AAPLGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. Apple’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.52 earnings per share. Equities research analysts forecast that Apple Inc. will post 6.57 earnings per share for the current year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were paid a dividend of $0.25 per share. This is an increase from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.52%. Apple’s dividend payout ratio is presently 15.55%.

Apple declared that its board has approved a share buyback program on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AAPL shares. Monness Crespi & Hardt lifted their target price on shares of Apple from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. UBS Group reaffirmed a “hold” rating and issued a $190.00 target price on shares of Apple in a report on Monday, March 25th. Maxim Group assumed coverage on shares of Apple in a research note on Wednesday, April 17th. They issued a “hold” rating and a $178.00 price target for the company. JPMorgan Chase & Co. lifted their price target on shares of Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Finally, Robert W. Baird lifted their price target on shares of Apple from $186.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $204.71.

Check Out Our Latest Stock Analysis on AAPL

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the sale, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the sale, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 4,999 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the completion of the sale, the insider now directly owns 29,278 shares in the company, valued at approximately $5,574,531.20. The disclosure for this sale can be found here. Insiders have sold a total of 371,270 shares of company stock valued at $64,605,696 over the last 90 days. 0.06% of the stock is owned by corporate insiders.

Apple Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.