Barrett & Company Inc. Sells 3,727 Shares of Apple Inc. (NASDAQ:AAPL)

Barrett & Company Inc. lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 12.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,322 shares of the iPhone maker’s stock after selling 3,727 shares during the period. Apple accounts for about 2.8% of Barrett & Company Inc.’s portfolio, making the stock its 7th biggest position. Barrett & Company Inc.’s holdings in Apple were worth $6,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Carolina Wealth Advisors LLC grew its stake in shares of Apple by 1.3% during the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after purchasing an additional 46 shares in the last quarter. Verus Financial Partners Inc. lifted its holdings in shares of Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after purchasing an additional 48 shares during the last quarter. Brown Financial Advisory grew its stake in Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after buying an additional 50 shares during the last quarter. Core Wealth Management Inc. increased its position in Apple by 1.7% during the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after buying an additional 50 shares during the period. Finally, Lowery Thomas LLC lifted its stake in Apple by 0.7% in the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after buying an additional 50 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was 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 owns 187,043 shares in the company, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 508,170 shares of company stock worth $117,004,745 in the last 90 days. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of recent research reports. Moffett Nathanson decreased their price objective on Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research report on Tuesday, November 19th. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Oppenheimer reissued a “buy” rating and set a $250.00 price target on shares of Apple in a report on Tuesday, October 1st. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price objective on shares of Apple in a research note on Friday, December 13th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $237.47.

Apple Price Performance

Apple stock opened at $255.59 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $3.86 trillion, a P/E ratio of 42.04, a PEG ratio of 2.41 and a beta of 1.23. The firm has a fifty day moving average of $237.41 and a 200-day moving average of $227.79. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm 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 firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.46 EPS. As a group, analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.39%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Apple 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.