Apple Inc. (AAPL) Shares Bought by Barry Investment Advisors LLC
Barry Investment Advisors LLC boosted its stake in Apple Inc. (NASDAQ:AAPL) by 26.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,501 shares of the iPhone maker’s stock after acquiring an additional 1,558 shares during the period. Barry Investment Advisors LLC’s holdings in Apple were worth $1,183,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Contravisory Investment Management Inc. increased its stake in Apple by 30.6% during the fourth quarter. Contravisory Investment Management Inc. now owns 614 shares of the iPhone maker’s stock worth $97,000 after purchasing an additional 144 shares during the period. CKW Financial Group increased its stake in Apple by 15.0% during the fourth quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock worth $127,000 after purchasing an additional 105 shares during the period. Brand Asset Management Group Inc. increased its stake in Apple by 75.3% during the fourth quarter. Brand Asset Management Group Inc. now owns 1,152 shares of the iPhone maker’s stock worth $182,000 after purchasing an additional 495 shares during the period. Sequoia Wealth Management LLC purchased a new stake in Apple during the fourth quarter worth about $200,000. Finally, Leith Wheeler Investment Counsel Ltd. purchased a new stake in Apple during the third quarter worth about $201,000. Hedge funds and other institutional investors own 57.36% of the company’s stock.
AAPL has been the topic of a number of recent research reports. UBS Group boosted their price target on shares of Apple from $180.00 to $185.00 in a research note on Wednesday, January 30th. DA Davidson cut their price target on shares of Apple to $245.00 and set a “buy” rating on the stock in a research note on Wednesday, January 23rd. They noted that the move was a valuation call. Citigroup reiterated a “buy” rating and set a $170.00 price target on shares of Apple in a research note on Wednesday, January 30th. Canaccord Genuity cut their price target on shares of Apple from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, January 30th. Finally, Monness Crespi & Hardt boosted their price target on shares of Apple from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, January 30th. Three analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $211.56.
Shares of AAPL opened at $189.00 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.32 and a quick ratio of 1.26. The company has a market capitalization of $928.96 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 1.60 and a beta of 1.14. Apple Inc. has a 52-week low of $142.00 and a 52-week high of $233.47.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, April 30th. The iPhone maker reported $2.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.37 by $0.09. The firm had revenue of $58.02 billion during the quarter, compared to the consensus estimate of $57.40 billion. Apple had a return on equity of 51.29% and a net margin of 22.12%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.73 earnings per share. On average, sell-side analysts predict that Apple Inc. will post 11.48 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 1.63%. This is an increase from Apple’s previous quarterly dividend of $0.73. The ex-dividend date was Friday, May 10th. Apple’s dividend payout ratio is 25.86%.
Apple announced that its board has authorized a stock buyback plan on Tuesday, April 30th that permits the company to repurchase $75.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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