Barrett & Company Inc. lowered its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 12.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,322 shares of the iPhone maker's stock after selling 3,727 shares during the quarter. Apple accounts for approximately 2.8% of Barrett & Company Inc.'s investment portfolio, making the stock its 7th biggest holding. Barrett & Company Inc.'s holdings in Apple were worth $6,366,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the business. Lantz Financial LLC raised its position in Apple by 8.6% in the second quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker's stock worth $6,266,000 after acquiring an additional 2,361 shares during the period. Trinity Financial Advisors LLC raised its holdings in shares of Apple by 2.3% in the 2nd quarter. Trinity Financial Advisors LLC now owns 29,427 shares of the iPhone maker's stock worth $6,198,000 after purchasing an additional 653 shares during the period. Foresight Capital Management Advisors Inc. raised its holdings in shares of Apple by 0.3% in the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker's stock worth $4,003,000 after purchasing an additional 55 shares during the period. MADDEN SECURITIES Corp lifted its stake in Apple by 0.3% in the second quarter. MADDEN SECURITIES Corp now owns 31,487 shares of the iPhone maker's stock valued at $6,632,000 after purchasing an additional 90 shares during the last quarter. Finally, Guinness Asset Management LTD grew its holdings in Apple by 3.8% during the second quarter. Guinness Asset Management LTD now owns 156,985 shares of the iPhone maker's stock valued at $33,074,000 after purchasing an additional 5,759 shares during the period. 67.73% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the business's stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 508,170 shares of company stock valued at $117,004,745 in the last quarter. Insiders own 0.06% of the company's stock.
Apple Trading Down 1.3 %
Shares of NASDAQ AAPL traded down $3.43 during midday trading on Friday, reaching $255.59. The company had a trading volume of 42,297,621 shares, compared to its average volume of 57,290,680. The stock has a market cap of $3.86 trillion, a PE ratio of 42.04, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. The firm's fifty day moving average price is $237.41 and its 200-day moving average price is $227.89. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.
Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. The business's revenue was up 6.1% on a year-over-year basis. On average, equities research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.
Apple Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.39%. Apple's payout ratio is currently 16.45%.
Analysts Set New Price Targets
A number of research analysts have recently commented on AAPL shares. Bank of America upped their price target on Apple to $256.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Maxim Group upped their price objective on shares of Apple from $203.00 to $215.00 and gave the company a "hold" rating in a report on Friday, November 1st. Evercore ISI reiterated a "buy" rating and issued a $250.00 target price on shares of Apple in a research note on Thursday, September 26th. UBS Group restated a "neutral" rating and set a $236.00 price target on shares of Apple in a research note on Monday, December 2nd. Finally, Wedbush lifted their price objective on shares of Apple from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Apple has an average rating of "Moderate Buy" and a consensus price target of $237.47.
View Our Latest Research Report on AAPL
Apple Profile
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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.
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