Barry Investment Advisors LLC Sells 187 Shares of Apple Inc. (NASDAQ:AAPL)

Barry Investment Advisors LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 0.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,683 shares of the iPhone maker’s stock after selling 187 shares during the period. Apple comprises approximately 2.0% of Barry Investment Advisors LLC’s portfolio, making the stock its 15th biggest holding. Barry Investment Advisors LLC’s holdings in Apple were worth $6,119,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in Apple by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after acquiring an additional 18,067,216 shares during the last quarter. Morgan Stanley grew its position in Apple by 1.0% during the third quarter. Morgan Stanley now owns 206,732,960 shares of the iPhone maker’s stock valued at $35,394,751,000 after acquiring an additional 2,018,010 shares during the last quarter. Norges Bank bought a new position in shares of Apple in the fourth quarter worth approximately $33,912,466,000. International Assets Investment Management LLC grew its holdings in shares of Apple by 14,395.4% in the fourth quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock worth $136,119,470,000 after purchasing an additional 70,212,651 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Apple by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock worth $11,677,190,000 after purchasing an additional 2,096,360 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research analyst reports. Barclays reaffirmed an “underweight” rating and issued a $164.00 price target on shares of Apple in a research note on Tuesday, June 11th. DA Davidson upgraded Apple from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $200.00 to $230.00 in a report on Tuesday, June 11th. Erste Group Bank upgraded Apple from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Itau BBA Securities upgraded Apple from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $162.00 to $188.00 in a research note on Friday, May 3rd. Finally, Piper Sandler Companies restated a “neutral” rating and set a $225.00 price target (up from $190.00) on shares of Apple in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $218.43.

Get Our Latest Research Report on AAPL

Apple Stock Up 1.9 %

NASDAQ AAPL opened at $232.98 on Thursday. The stock has a 50 day moving average price of $200.96 and a 200-day moving average price of $186.98. Apple Inc. has a one year low of $164.07 and a one year high of $233.08. The company has a market capitalization of $3.57 trillion, a P/E ratio of 36.23, a P/E/G ratio of 2.77 and a beta of 1.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04.

Apple (NASDAQ:AAPLGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The company had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. During the same quarter in the prior year, the firm posted $1.52 EPS. Apple’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, equities analysts predict that Apple Inc. will post 6.59 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Friday, May 10th. This is a positive change from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio is presently 15.55%.

Apple declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 2nd that permits the company to buyback $110.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,999 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the sale, the insider now owns 29,278 shares in the company, valued at approximately $5,574,531.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the sale, the director now owns 4,359,576 shares in the company, valued at $835,207,570.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,999 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the sale, the insider now owns 29,278 shares in the company, valued at approximately $5,574,531.20. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by 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)

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