Toroso Investments LLC Acquires 46,877 Shares of Apple Inc. (NASDAQ:AAPL)

Toroso Investments LLC boosted its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 10.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 516,433 shares of the iPhone maker’s stock after acquiring an additional 46,877 shares during the period. Apple accounts for about 2.7% of Toroso Investments LLC’s investment portfolio, making the stock its 4th largest position. Toroso Investments LLC’s holdings in Apple were worth $90,174,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Cardinal Capital Management Inc. boosted its stake in shares of Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after purchasing an additional 221 shares during the last quarter. Shore Point Advisors LLC acquired a new stake in shares of Apple during the 4th quarter worth about $41,000. HBC Financial Services PLLC boosted its stake in shares of Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares during the last quarter. Emerson Wealth LLC boosted its stake in shares of Apple by 363.6% during the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after purchasing an additional 320 shares during the last quarter. Finally, Econ Financial Services Corp boosted its position in shares of Apple by 29.1% in the first quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after acquiring an additional 95 shares during the last quarter. 57.72% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

Shares of Apple stock opened at $155.31 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The company’s 50-day moving average price is $159.21 and its two-hundred day moving average price is $156.27. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. The stock has a market cap of $2.50 trillion, a PE ratio of 25.63, a price-to-earnings-growth ratio of 2.03 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping the consensus estimate of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. During the same period in the previous year, the business earned $1.30 earnings per share. Apple’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple Inc. will post 6.11 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.59%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 15.18%.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares in the company, valued at approximately $70,411,823.18. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Apple news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the transaction, the senior vice president now directly owns 427,334 shares in the company, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on AAPL. KeyCorp raised their target price on shares of Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, August 19th. Itau BBA Securities began coverage on shares of Apple in a research report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price on the stock. The Goldman Sachs Group reissued a “neutral” rating and issued a $139.00 target price on shares of Apple in a research report on Thursday, September 8th. Wedbush raised their target price on shares of Apple from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 17th. Finally, Loop Capital decreased their target price on shares of Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, May 25th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $181.52.

Apple Company 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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