Apple Inc. (NASDAQ:AAPL) Stock Holdings Reduced by Masso Torrence Wealth Management Inc.

Masso Torrence Wealth Management Inc. reduced its stake in Apple Inc. (NASDAQ:AAPL) by 2.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,978 shares of the iPhone maker’s stock after selling 1,594 shares during the period. Apple makes up about 7.8% of Masso Torrence Wealth Management Inc.’s holdings, making the stock its 2nd largest holding. Masso Torrence Wealth Management Inc.’s holdings in Apple were worth $14,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of AAPL. High Net Worth Advisory Group LLC raised its stake in Apple by 1.7% in the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after purchasing an additional 1,066 shares in the last quarter. Granite Investment Partners LLC lifted its position in Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after purchasing an additional 7,606 shares during the last quarter. Truist Financial Corp grew its holdings in Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after acquiring an additional 126,210 shares during the last quarter. Sterling Investment Counsel LLC raised its stake in shares of Apple by 3.8% during the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after acquiring an additional 2,565 shares during the last quarter. Finally, EP Wealth Advisors LLC lifted its holdings in Apple by 5.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after buying an additional 95,235 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AAPL has been the subject of several research reports. Wedbush reissued an “outperform” rating and issued a $300.00 target price on shares of Apple in a research report on Friday, November 29th. Wells Fargo & Company lifted their price target on shares of Apple to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Barclays decreased their price target on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Tigress Financial upped their target price on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Finally, Piper Sandler reissued a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.78.

Apple Trading Up 1.1 %

Shares of NASDAQ AAPL opened at $258.20 on Thursday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $258.21. The firm has a market cap of $3.90 trillion, a PE ratio of 42.47, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. The business has a fifty day simple moving average of $235.93 and a two-hundred day simple moving average of $226.77. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.46 earnings per share. Analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.39%. Apple’s payout ratio is currently 16.45%.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. This trade represents a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 508,170 shares of company stock valued at $117,004,745. Corporate insiders own 0.06% of the company’s stock.

About Apple

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.