Masso Torrence Wealth Management Inc. Sells 2,775 Shares of Apple Inc. (NASDAQ:AAPL)

Masso Torrence Wealth Management Inc. lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 4.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 63,572 shares of the iPhone maker’s stock after selling 2,775 shares during the period. Apple makes up 7.4% of Masso Torrence Wealth Management Inc.’s investment portfolio, making the stock its 2nd biggest holding. Masso Torrence Wealth Management Inc.’s holdings in Apple were worth $13,389,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in AAPL. Christopher J. Hasenberg Inc acquired a new stake in Apple during the first quarter worth $35,000. A.P. Gilfoyle & Co. L.P. bought a new position in shares of Apple during the 4th quarter worth about $39,000. University of Texas Texas AM Investment Managment Co. lifted its holdings in shares of Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after acquiring an additional 368 shares during the period. Clarity Asset Management Inc. acquired a new stake in shares of Apple during the 4th quarter valued at about $85,000. Finally, Clear Street Markets LLC increased its stake in Apple by 100.6% in the fourth quarter. Clear Street Markets LLC now owns 483 shares of the iPhone maker’s stock valued at $93,000 after acquiring an additional 83,965 shares during the period. Institutional investors own 60.41% of the company’s stock.

Insider Activity at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Apple news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is owned by insiders.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $228.20 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23. The stock has a market capitalization of $3.50 trillion, a P/E ratio of 35.49, a P/E/G ratio of 2.62 and a beta of 1.24. The business has a 50-day moving average price of $222.41 and a two-hundred day moving average price of $200.19.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. Apple’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Wall Street Analyst Weigh In

A number of research analysts have commented on AAPL shares. TD Cowen raised their price target on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Evercore ISI restated an “outperform” rating and set a $250.00 target price on shares of Apple in a research report on Monday, September 16th. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research report on Tuesday, September 10th. DA Davidson upgraded Apple from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $200.00 to $230.00 in a research note on Tuesday, June 11th. Finally, Citigroup restated a “buy” rating and issued a $255.00 target price on shares of Apple in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.17.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.