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

Masso Torrence Wealth Management Inc. lowered its stake in Apple Inc. (NASDAQ:AAPL) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,572 shares of the iPhone maker’s stock after selling 2,775 shares during the quarter. Apple comprises about 7.4% of Masso Torrence Wealth Management Inc.’s 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 Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc bought a new position in Apple during the first quarter valued at about $35,000. Fidelis Capital Partners LLC lifted its stake in Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. acquired a new stake in Apple during the fourth quarter valued at approximately $39,000. University of Texas Texas AM Investment Managment Co. boosted its holdings in Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after buying an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. acquired a new position in Apple in the fourth quarter worth approximately $85,000. Institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $228.20 on Friday. The firm has a market cap of $3.50 trillion, a price-to-earnings ratio of 35.49, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. The company’s fifty day moving average is $222.41 and its 200-day moving average is $200.19. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23.

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

Apple Announces Dividend

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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is 15.55%.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several research reports. Moffett Nathanson assumed coverage on Apple in a research note on Monday, August 19th. They set a “neutral” rating and a $211.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Apple in a research note on Thursday. Raymond James boosted their price objective on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 target price on shares of Apple in a report on Tuesday, September 10th. Finally, UBS Group boosted their price target on shares of Apple from $190.00 to $236.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.17.

Insider Buying and Selling

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

Apple Company 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.