Torray LLC Trims Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Torray LLC reduced its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 1.6% during the second quarter, HoldingsChannel reports. The fund owned 69,584 shares of the iPhone maker’s stock after selling 1,148 shares during the period. Apple comprises approximately 1.8% of Torray LLC’s holdings, making the stock its 23rd largest position. Torray LLC’s holdings in Apple were worth $9,514,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AAPL. Opus Capital Group LLC boosted its position in shares of Apple by 0.3% during the first quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock worth $3,332,000 after acquiring an additional 63 shares during the last quarter. Norwood Financial Corp boosted its position in shares of Apple by 0.9% during the first quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock worth $1,227,000 after acquiring an additional 65 shares during the last quarter. Mokosak Advisory Group LLC boosted its position in shares of Apple by 1.2% during the first quarter. Mokosak Advisory Group LLC now owns 5,702 shares of the iPhone maker’s stock worth $996,000 after acquiring an additional 66 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Apple by 6.7% during the second quarter. Harbor Capital Advisors Inc. now owns 1,046 shares of the iPhone maker’s stock worth $143,000 after acquiring an additional 66 shares during the last quarter. Finally, Lake Point Wealth Management boosted its position in shares of Apple by 1.7% during the second quarter. Lake Point Wealth Management now owns 4,025 shares of the iPhone maker’s stock worth $550,000 after acquiring an additional 67 shares during the last quarter. 57.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research reports. set a $175.00 target price on shares of Apple in a research report on Friday, July 29th. The Goldman Sachs Group reiterated a “neutral” rating and set a $139.00 price objective on shares of Apple in a research report on Thursday, September 8th. DA Davidson lowered their price objective on shares of Apple from $185.00 to $167.00 and set a “buy” rating for the company in a research report on Friday, October 28th. Monness Crespi & Hardt initiated coverage on shares of Apple in a research report on Thursday, September 8th. They set a “buy” rating and a $174.00 price objective for the company. Finally, Sanford C. Bernstein set a $170.00 price objective on shares of Apple in a research report on Monday, September 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $176.26.

Apple Stock Up 0.4 %

NASDAQ:AAPL opened at $151.29 on Monday. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The stock has a market capitalization of $2.41 trillion, a P/E ratio of 24.76, a P/E/G ratio of 1.93 and a beta of 1.25. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88. The company’s 50-day simple moving average is $147.08 and its 200-day simple moving average is $149.77.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.02. Apple had a net margin of 25.31% and a return on equity of 160.90%. The business had revenue of $90.15 billion for the quarter, compared to analysts’ expectations of $88.77 billion. During the same period last year, the business earned $1.24 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. On average, equities analysts anticipate that Apple Inc. will post 6.26 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Insider Activity

In related news, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $155.95, for a total value of $27,493,829.05. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $17,259,454.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Deirdre O’brien sold 8,053 shares of Apple 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 sale, the senior vice president now directly owns 136,290 shares in the company, valued at approximately $19,414,510.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction that occurred on 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 360,651 shares of company stock worth $53,703,645. Corporate insiders own 0.06% of the company’s stock.

Apple Profile

(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.

Featured Articles

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.