Barry Investment Advisors LLC Reduces Position in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Aug 9th, 2023

Barry Investment Advisors LLC decreased its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.4% in the first quarter, according to its most recent 13F filing 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 period. Apple makes up about 3.0% of Barry Investment Advisors LLC’s portfolio, making the stock its 11th biggest holding. Barry Investment Advisors LLC’s holdings in Apple were worth $9,092,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. St. James Investment Advisors LLC boosted its position in Apple by 98.3% in the fourth quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock valued at $31,000 after buying an additional 117 shares during the last quarter. Cheyne Capital Management UK LLP boosted 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 valued at $212,000 after acquiring an additional 550 shares during the last quarter. HBC Financial Services PLLC increased its stake in shares of Apple by 21.7% in the first 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 period. PayPay Securities Corp purchased a new position in shares of Apple during the fourth quarter worth $60,000. Finally, LFA Lugano Financial Advisors SA acquired a new position in Apple during the fourth quarter valued at $93,000. Institutional investors and hedge funds own 57.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AAPL. Needham & Company LLC reiterated a “buy” rating and set a $195.00 price objective on shares of Apple in a research note on Friday, August 4th. Oppenheimer boosted their price target on Apple from $195.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Apple from $180.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, July 24th. StockNews.com initiated coverage on shares of Apple in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Canaccord Genuity Group raised their price target on shares of Apple from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Ten analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $198.86.

Read Our Latest Analysis on Apple

Insider Activity at Apple

In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $24,363,619.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by insiders.

Apple Stock Up 0.5 %

Shares of NASDAQ:AAPL opened at $179.80 on Wednesday. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $198.23. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63. The business has a fifty day moving average of $187.81 and a two-hundred day moving average of $169.26. The stock has a market cap of $2.83 trillion, a P/E ratio of 30.22, a PEG 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. The firm had revenue of $81.80 billion during the quarter, compared to analyst estimates of $81.79 billion. Apple had a net margin of 24.68% and a return on equity of 164.92%. Apple’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 earnings per share. On average, research analysts expect that Apple Inc. will post 6.04 earnings per share for the current year.

Apple Dividend Announcement

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

Apple announced that its Board of Directors has initiated a share repurchase program on Thursday, May 4th that allows the company to buyback $90.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 3.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.