Masso Torrence Wealth Management Inc. decreased its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,203 shares of the iPhone maker’s stock after selling 339 shares during the quarter. Apple comprises approximately 11.1% of Masso Torrence Wealth Management Inc.’s portfolio, making the stock its biggest position. Masso Torrence Wealth Management Inc.’s holdings in Apple were worth $13,830,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in AAPL. First National Bank Sioux Falls raised its position in shares of Apple by 62.3% in the 4th quarter. First National Bank Sioux Falls now owns 17,749 shares of the iPhone maker’s stock worth $3,152,000 after acquiring an additional 6,812 shares in the last quarter. Arbor Wealth Management LLC grew its stake in Apple by 5.7% in the fourth quarter. Arbor Wealth Management LLC now owns 89,900 shares of the iPhone maker’s stock worth $15,963,000 after purchasing an additional 4,879 shares during the period. Columbia Advisory Partners LLC bought a new position in Apple in the fourth quarter worth $3,996,000. OLD Second National Bank of Aurora lifted its position in Apple by 10.9% during the fourth quarter. OLD Second National Bank of Aurora now owns 112,274 shares of the iPhone maker’s stock valued at $14,816,000 after buying an additional 11,079 shares during the period. Finally, Douglas Lane & Associates LLC boosted its holdings in shares of Apple by 0.6% during the 4th quarter. Douglas Lane & Associates LLC now owns 233,070 shares of the iPhone maker’s stock valued at $41,386,000 after buying an additional 1,472 shares in the last quarter. Institutional investors own 57.98% of the company’s stock.
Insider Buying and Selling
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the sale, the senior vice president now directly owns 452,334 shares of the company’s stock, valued at $73,151,454.48. 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 Trading Up 0.4 %
NASDAQ:AAPL opened at $157.35 on Friday. The business has a fifty day moving average price of $143.81 and a 200-day moving average price of $157.52. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88. The firm has a market capitalization of $2.55 trillion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 1.97 and a beta of 1.19.
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.09. Apple had a return on equity of 152.88% and a net margin of 26.41%. The company had revenue of $97.28 billion during the quarter, compared to the consensus estimate of $93.99 billion. During the same period in the previous year, the company posted $1.40 EPS. The firm’s revenue was up 8.6% on a year-over-year basis. Sell-side analysts forecast that Apple Inc. will post 6.09 EPS for the current year.
Apple declared that its board has approved a share buyback program on Thursday, April 28th that allows the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
Apple Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.58%. Apple’s dividend payout ratio (DPR) is 14.94%.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. Itau BBA Securities assumed coverage on shares of Apple in a research report on Tuesday. They set an “underperform” rating and a $136.00 price target for the company. Credit Suisse Group set a $169.00 target price on shares of Apple in a report on Friday, April 29th. KeyCorp cut their price target on Apple from $191.00 to $173.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 12th. Wells Fargo & Company lowered their price objective on Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Apple from $200.00 to $175.00 in a research note on Tuesday, June 14th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $178.82.
Apple Company Profile
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.
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