Barnett & Company Inc. Increases Stake in Apple Inc. (NASDAQ:AAPL)

Barnett & Company Inc. raised its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,064 shares of the iPhone maker’s stock after buying an additional 150 shares during the quarter. Barnett & Company Inc.’s holdings in Apple were worth $692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in AAPL. Colony Family Offices LLC boosted its position in shares of Apple by 144.5% during the 2nd quarter. Colony Family Offices LLC now owns 46,236 shares of the iPhone maker’s stock valued at $6,321,000 after acquiring an additional 27,328 shares during the last quarter. Lake Street Advisors Group LLC boosted its position in shares of Apple by 3.3% during the 2nd quarter. Lake Street Advisors Group LLC now owns 205,971 shares of the iPhone maker’s stock valued at $28,160,000 after acquiring an additional 6,582 shares during the last quarter. Triumph Capital Management boosted its position in shares of Apple by 123.6% during the 2nd quarter. Triumph Capital Management now owns 14,715 shares of the iPhone maker’s stock valued at $2,012,000 after acquiring an additional 8,134 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Apple by 2.7% during the 2nd quarter. Versant Capital Management Inc now owns 18,585 shares of the iPhone maker’s stock valued at $2,541,000 after acquiring an additional 494 shares during the last quarter. Finally, Thompson Davis & CO. Inc. boosted its position in shares of Apple by 62.6% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 21,909 shares of the iPhone maker’s stock valued at $2,995,000 after acquiring an additional 8,438 shares during the last quarter. 57.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the completion of the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Deirdre O’brien sold 8,053 shares of the business’s stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $142.45, for a total value of $1,147,149.85. Following the completion of the transaction, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at $19,414,510.50. The disclosure for this sale can be found here. Insiders sold 360,651 shares of company stock valued at $53,703,645 over the last quarter. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AAPL. Wedbush lowered their target price on Apple from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, October 28th. The Goldman Sachs Group restated a “neutral” rating and issued a $139.00 price target on shares of Apple in a research report on Thursday, September 8th. Citigroup restated a “buy” rating and issued a $175.00 price target on shares of Apple in a research report on Tuesday, November 8th. Credit Suisse Group set a $184.00 price target on Apple in a research report on Thursday. Finally, Evercore ISI raised their price target on Apple from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $176.26.

Apple Price Performance

AAPL opened at $150.72 on Friday. The business’s 50-day moving average is $147.21 and its two-hundred day moving average is $150.00. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85. The firm has a market capitalization of $2.40 trillion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 1.90 and a beta of 1.25.

Apple (NASDAQ:AAPLGet Rating) last posted its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.02. Apple had a return on equity of 160.90% and a net margin of 25.31%. The company had revenue of $90.15 billion for the quarter, compared to analyst estimates of $88.77 billion. During the same quarter in the previous year, the firm earned $1.24 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Research analysts anticipate that Apple Inc. will post 6.31 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Monday, November 7th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.61%. Apple’s payout ratio is 15.06%.

About Apple

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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