Barlow Wealth Partners Reduces Apple Stake by 3.8% in Q2
Barlow Wealth Partners LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 3.8% during the second quarter, according to its latest 13F filing with the Securities and Exchange Commission (SEC). The firm sold 4,589 shares, bringing its total holdings to 117,646 shares. Apple now represents approximately 3.8% of Barlow Wealth Partners LLC's portfolio, making it the sixth-largest position in their holdings. The value of the firm's Apple stake was $36,869,000 at the end of the reporting period.
Other institutional investors made significant moves in Apple shares during the same quarter. Prospect Hill Management LLC acquired a new stake valued at $146,370,000, while Focus Partners Advisor Solutions LLC bought a new position worth about $168,646,000. Wealthfront Advisers LLC purchased a new stake valued at approximately $482,388,000. Additionally, Satovsky Asset Management LLC and Saranac Partners Ltd bought new stakes worth $16,064,000 and $9,513,000, respectively. Hedge funds and other institutional investors now own 67.73% of Apple's stock.
Apple's stock opened at $332.89 on Tuesday, with a market capitalization of $4.86 trillion. The company reported quarterly earnings of $2.02 per share, exceeding estimates by $0.13, and revenue of $109.42 billion, up 16.4% year-over-year. The stock has a 12-month low of $243.42 and a high of $345.34. Analysts expect Apple to post $8.75 in earnings per share for the current year.
Recent insider activity includes sales by SVP Jennifer Newstead and CEO John Ternus. Newstead sold 2,399 shares for $806,495.82, reducing her ownership by 5.40%. Ternus sold 25,412 shares for $8,460,671.28, decreasing his ownership by 29.90%. Over the last quarter, insiders sold 276,984 shares worth $92,116,025. Insiders own 0.06% of the company's stock.