Barry Investment Advisors LLC Sells 200 Shares of Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Aug 9th, 2023

Barry Investment Advisors LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 0.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,137 shares of the iPhone maker’s stock after selling 200 shares during the quarter. Apple accounts for about 3.0% of Barry Investment Advisors LLC’s holdings, making the stock its 11th biggest holding. Barry Investment Advisors LLC’s holdings in Apple were worth $9,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. St. James Investment Advisors LLC lifted its holdings in shares of Apple by 98.3% in the 4th quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock worth $31,000 after acquiring an additional 117 shares during the last quarter. Cheyne Capital Management UK LLP lifted its holdings in shares of Apple by 200.0% in the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $212,000 after acquiring an additional 550 shares during the last quarter. HBC Financial Services PLLC lifted its holdings in shares of Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after acquiring an additional 80 shares during the last quarter. PayPay Securities Corp bought a new stake in shares of Apple in the 4th quarter worth approximately $60,000. Finally, LFA Lugano Financial Advisors SA bought a new stake in shares of Apple in the 4th quarter worth approximately $93,000. 57.89% of the stock is currently owned by institutional investors.

Apple Price Performance

Shares of Apple stock opened at $179.80 on Wednesday. The stock’s fifty day moving average is $187.81 and its 200 day moving average is $169.26. Apple Inc. has a one year low of $124.17 and a one year high of $198.23. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.92 and a current ratio of 0.98. The stock has a market cap of $2.83 trillion, a P/E ratio of 30.22, a P/E/G ratio of 2.66 and a beta of 1.28.

Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. Apple had a return on equity of 164.92% and a net margin of 24.68%. The company had revenue of $81.80 billion during the quarter, compared to the consensus estimate of $81.79 billion. During the same period in the previous year, the company posted $1.20 EPS. The firm’s revenue was down 1.4% on a year-over-year basis. Sell-side analysts anticipate that Apple Inc. will post 6.04 earnings per share for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 14th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Friday, August 11th. Apple’s dividend payout ratio is currently 16.13%.

Apple declared that its Board of Directors has authorized a share buyback program on Thursday, May 4th that authorizes the company to buyback $90.00 billion in shares. This buyback authorization authorizes the iPhone maker to buy up to 3.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Canaccord Genuity Group upped their price target on shares of Apple from $185.00 to $205.00 and gave the company a “buy” rating in a report on Friday, August 4th. UBS Group lowered shares of Apple from a “buy” rating to a “neutral” rating and upped their price target for the company from $180.00 to $190.00 in a report on Monday, June 12th. Evercore ISI boosted their price objective on shares of Apple from $190.00 to $210.00 and gave the company an “outperform” rating in a research report on Monday, June 5th. Fundamental Research set a $183.86 price objective on shares of Apple and gave the company a “buy” rating in a research report on Wednesday, May 17th. Finally, StockNews.com started coverage on shares of Apple in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Ten research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $198.86.

Check Out Our Latest Stock Report on Apple

Insiders Place Their Bets

In related news, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the completion of the sale, the senior vice president now owns 136,445 shares in the company, valued at $24,363,619.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is currently owned by company 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.