Torray Investment Partners LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 9.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 64,569 shares of the iPhone maker’s stock after selling 6,542 shares during the quarter. Apple accounts for about 2.2% of Torray Investment Partners LLC’s investment portfolio, making the stock its 18th biggest holding. Torray Investment Partners LLC’s holdings in Apple were worth $12,524,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Parker Financial LLC grew its position in shares of Apple by 1.2% during the 2nd quarter. Parker Financial LLC now owns 4,543 shares of the iPhone maker’s stock worth $881,000 after buying an additional 54 shares during the period. MKT Advisors LLC boosted its stake in Apple by 0.5% during the second quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after acquiring an additional 60 shares in the last quarter. Professional Financial Advisors LLC grew its holdings in Apple by 0.5% in the second quarter. Professional Financial Advisors LLC now owns 13,213 shares of the iPhone maker’s stock worth $2,563,000 after purchasing an additional 62 shares during the period. Aspire Capital Advisors LLC increased its stake in Apple by 0.5% in the first quarter. Aspire Capital Advisors LLC now owns 14,076 shares of the iPhone maker’s stock valued at $2,321,000 after purchasing an additional 64 shares in the last quarter. Finally, Orgel Wealth Management LLC raised its holdings in shares of Apple by 0.7% during the second quarter. Orgel Wealth Management LLC now owns 8,926 shares of the iPhone maker’s stock valued at $1,731,000 after purchasing an additional 66 shares during the period. Institutional investors own 58.51% of the company’s stock.
Apple Price Performance
Shares of NASDAQ AAPL opened at $175.84 on Thursday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.92 and a current ratio of 0.98. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $198.23. The stock has a market cap of $2.75 trillion, a PE ratio of 29.55, a price-to-earnings-growth ratio of 2.40 and a beta of 1.28. The stock has a fifty day moving average of $177.94 and a 200-day moving average of $178.77.
Apple Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Friday, August 11th. Apple’s dividend payout ratio is presently 16.13%.
Insider Buying and Selling at Apple
In related news, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $178.56, for a total value of $2,753,216.64. Following the sale, the senior vice president now owns 136,445 shares in the company, valued at $24,363,619.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Timothy D. Cook sold 240,569 shares of the stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total value of $41,498,152.50. Following the transaction, the chief executive officer now owns 3,280,053 shares of the company’s stock, valued at approximately $565,809,142.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Deirdre O’brien sold 15,419 shares of Apple stock in a transaction on Monday, August 7th. The stock was sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the sale, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The disclosure for this sale can be found here. Insiders sold a total of 455,004 shares of company stock valued at $79,238,767 in the last three months. Company insiders own 0.06% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently commented on the company. StockNews.com initiated coverage on Apple in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Piper Sandler upped their target price on Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, July 31st. Morgan Stanley reduced their price target on shares of Apple from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday. Jefferies Financial Group lowered their price objective on shares of Apple from $225.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, August 4th. Finally, Canaccord Genuity Group lifted their price objective on shares of Apple from $185.00 to $205.00 and gave the company a “buy” rating in a report on Friday, August 4th. Nine equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $200.40.
Check Out Our Latest Analysis on AAPL
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.
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