2,669 Apple Inc. $AAPL Shares Sold by Barrett & Company Inc.

Key Points

• Barrett & Company cut its Apple stake by 8.4%, selling 2,669 shares in the third quarter. It retained 29,049 shares, valued at about $9.67 million and representing 2.6% of its portfolio.
• Apple beat quarterly earnings expectations, reporting $2.10 in EPS versus the $1.99 estimate and revenue of $114.48 billion, up 11.7% year over year.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $347.11. The article also notes that insiders sold 292,611 shares worth about $97.5 million over the last quarter.

Barrett & Company Inc. reduced its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 8.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,049 shares of the iPhone maker's stock after selling 2,669 shares during the quarter. Apple makes up about 2.6% of Barrett & Company Inc.'s investment portfolio, making the stock its 8th biggest holding. Barrett & Company Inc.'s holdings in Apple were worth $9,674,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its stake in Apple by 4.7% during the second quarter. State Street Corp now owns 630,662,494 shares of the iPhone maker's stock worth $182,897,769,000 after purchasing an additional 28,321,085 shares during the last quarter. Berkshire Hathaway Inc bought a new stake in Apple during the second quarter valued at $65,950,297,000. Bank of America Corp DE bought a new stake in Apple during the second quarter valued at $36,986,090,000. Legal & General Group Plc acquired a new stake in shares of Apple during the second quarter worth $30,443,242,000. Finally, Amundi lifted its position in shares of Apple by 23.2% in the 1st quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock worth $18,547,637,000 after buying an additional 13,780,080 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O'brien sold 46,389 shares of the firm's stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $333.42, for a total transaction of $15,467,020.38. Following the transaction, the senior vice president owned 136,810 shares of the company's stock, valued at approximately $45,615,190.20. This trade represents a 25.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 2,399 shares of the firm's stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $351.36, for a total transaction of $842,912.64. Following the transaction, the senior vice president directly owned 27,598 shares in the company, valued at approximately $9,696,833.28. The trade was a 8.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 292,611 shares of company stock worth $97,482,597 over the last quarter. Insiders own 0.06% of the company's stock.

Apple Trading Down 0.2%

Apple stock opened at $354.88 on Friday. Apple Inc. has a 52-week low of $243.42 and a 52-week high of $359.37. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $5.16 trillion, a price-to-earnings ratio of 39.56, a PEG ratio of 3.42 and a beta of 1.07. The firm has a 50-day moving average price of $338.48 and a two-hundred day moving average price of $300.56.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Monday, November 2nd. The iPhone maker reported $2.10 EPS for the quarter, beating the consensus estimate of $1.99 by $0.11. The company had revenue of $114.48 billion for the quarter, compared to analyst estimates of $113.40 billion. Apple had a net margin of 27.60% and a return on equity of 125.35%. Apple's revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.85 earnings per share. Sell-side analysts expect that Apple Inc. will post 9.45 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, November 12th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date is Thursday, November 12th. Apple's dividend payout ratio (DPR) is currently 12.04%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. BTIG Research began coverage on shares of Apple in a research report on Monday, August 17th. They set a "neutral" rating for the company. Maxim Group raised their target price on shares of Apple from $350.00 to $380.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Melius Research set a $370.00 target price on Apple in a research note on Tuesday, November 3rd. DA Davidson upped their target price on Apple from $270.00 to $295.00 and gave the company a "neutral" rating in a report on Tuesday, November 3rd. Finally, Monness Crespi & Hardt reissued a "buy" rating and issued a $355.00 price target on shares of Apple in a report on Wednesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Apple presently has an average rating of "Moderate Buy" and an average price target of $347.11.

Apple News Summary

These are some of the AAPL news items that stood out recently:

• Positive Sentiment: Apple recently reached a record high, with one analyst describing the stock as a “safe haven” amid market turmoil. CIBC also included AAPL among its post-election stock picks. Apple Stock Called 'Safe Haven,' Hits Record High
• Negative Sentiment: Higher memory-chip prices are a near-term margin risk. Apple’s December-quarter gross-margin outlook was reported below analyst expectations, despite record quarterly sales, raising concerns that component costs could weigh on profitability. Why Apple Stock Fell Despite a Record Quarter
• Negative Sentiment: Some analysts and investors view AAPL as expensive after its strong run, while recent coverage shows disagreement on the outlook, including a DZ Bank downgrade to Sell. Rich valuation leaves less room for disappointment. Apple Shares Look Expensive Heading into 2027

About Apple

Apple Inc. designs, manufactures and markets consumer electronics, software and digital services. Its products include the iPhone, Mac computers, iPad, Apple Watch and AirPods, along with operating systems and applications such as iOS, macOS and iPadOS. The company also offers services including the App Store, Apple Music, Apple TV+, iCloud and Apple Pay. These products and services are integrated across Apple's devices and are sold to consumers, businesses and institutions around the world. Founded in 1976 and headquartered in Cupertino, California, Apple serves customers globally through online and retail stores, wireless carriers and other resellers.

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