Barry Investment Advisors LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 9.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,203 shares of the iPhone maker’s stock after selling 633 shares during the quarter. Barry Investment Advisors LLC’s holdings in Apple were worth $1,041,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of AAPL. Marcus Capital LLC boosted its stake in Apple by 6.8% during the 1st quarter. Marcus Capital LLC now owns 4,342 shares of the iPhone maker’s stock worth $729,000 after acquiring an additional 275 shares during the last quarter. Canandaigua National Bank & Trust Co. lifted its stake in Apple by 0.5% in the first quarter. Canandaigua National Bank & Trust Co. now owns 51,711 shares of the iPhone maker’s stock valued at $8,676,000 after buying an additional 280 shares in the last quarter. Chemical Bank lifted its stake in Apple by 0.3% in the fourth quarter. Chemical Bank now owns 92,548 shares of the iPhone maker’s stock valued at $15,662,000 after buying an additional 299 shares in the last quarter. Spectrum Asset Management Inc. NB CA lifted its stake in Apple by 12.3% in the first quarter. Spectrum Asset Management Inc. NB CA now owns 2,737 shares of the iPhone maker’s stock valued at $452,000 after buying an additional 300 shares in the last quarter. Finally, FTB Advisors Inc. lifted its stake in Apple by 0.3% in the first quarter. FTB Advisors Inc. now owns 88,110 shares of the iPhone maker’s stock valued at $14,949,000 after buying an additional 302 shares in the last quarter. Institutional investors own 60.11% of the company’s stock.
A number of research analysts have weighed in on the stock. Robert W. Baird reaffirmed a “buy” rating and issued a $230.00 price target on shares of Apple in a research note on Monday, August 13th. BidaskClub raised shares of Apple from a “hold” rating to a “buy” rating in a research note on Tuesday, August 7th. Macquarie set a $214.00 price target on shares of Apple and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Co reaffirmed a “neutral” rating and issued a $210.00 price target on shares of Apple in a research note on Friday, August 10th. Finally, Citigroup lifted their price target on shares of Apple from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $219.51.
In related news, insider Luca Maestri sold 4,769 shares of the business’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $189.54, for a total transaction of $903,916.26. Following the transaction, the insider now directly owns 68,044 shares in the company, valued at $12,897,059.76. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Johny Srouji sold 14,976 shares of the business’s stock in a transaction on Wednesday, May 23rd. The stock was sold at an average price of $187.74, for a total transaction of $2,811,594.24. Following the transaction, the insider now owns 73,302 shares in the company, valued at $13,761,717.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 141,066 shares of company stock worth $28,208,138. 0.06% of the stock is owned by corporate insiders.
Shares of AAPL opened at $217.58 on Friday. The firm has a market cap of $1,020.04 billion, a P/E ratio of 23.62, a PEG ratio of 1.64 and a beta of 1.16. Apple Inc. has a 1-year low of $149.16 and a 1-year high of $217.95. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.24 and a current ratio of 1.31.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.18 by $0.16. The business had revenue of $53.27 billion for the quarter, compared to the consensus estimate of $52.43 billion. Apple had a net margin of 21.98% and a return on equity of 43.50%. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.67 earnings per share. analysts predict that Apple Inc. will post 11.68 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Investors of record on Monday, August 13th were issued a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, August 10th. This represents a $2.92 dividend on an annualized basis and a yield of 1.34%. Apple’s payout ratio is 31.70%.
Apple declared that its Board of Directors has authorized a share buyback program on Tuesday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to repurchase up to 11.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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