Torren Management LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 78.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 918 shares of the iPhone maker’s stock after selling 3,414 shares during the quarter. Apple accounts for approximately 0.1% of Torren Management LLC’s investment portfolio, making the stock its 27th biggest holding. Torren Management LLC’s holdings in Apple were worth $233,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in AAPL. Overbrook Management Corp raised its stake in Apple by 57.4% during the fourth quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock valued at $28,449,000 after buying an additional 38,174 shares during the last quarter. Rainier Family Wealth Inc. grew its stake in shares of Apple by 14.1% in the first quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker’s stock worth $6,189,000 after acquiring an additional 3,014 shares during the last quarter. Summit Wealth Partners LLC increased its holdings in shares of Apple by 108.3% during the first quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker’s stock valued at $8,880,000 after acquiring an additional 18,188 shares in the last quarter. Adventist Health System Sunbelt Healthcare Corp bought a new position in shares of Apple during the fourth quarter valued at $105,482,000. Finally, KBC Group NV raised its position in shares of Apple by 3.1% in the 4th quarter. KBC Group NV now owns 7,044,697 shares of the iPhone maker’s stock worth $1,915,172,000 after purchasing an additional 214,215 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the stock. Royal Bank Of Canada set a $365.00 price objective on shares of Apple in a research report on Wednesday, July 15th. Barclays reiterated an “underweight” rating on shares of Apple in a report on Tuesday, June 9th. Wells Fargo & Company restated an “overweight” rating and issued a $310.00 price objective (up from $300.00) on shares of Apple in a report on Friday, May 1st. UBS Group set a $365.00 target price on Apple in a report on Tuesday. Finally, DA Davidson restated a “neutral” rating and set a $270.00 target price on shares of Apple in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $326.83.
Insider Buying and Selling at Apple
In related news, insider Ben Borders sold 1,274 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the transaction, the insider directly owned 38,713 shares in the company, valued at approximately $11,226,770. The trade was a 3.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by insiders.
Key Apple News
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Ford will integrate Apple Maps and Apple software into upcoming lower-cost EVs and self-driving features, expanding Apple’s automotive footprint and creating another potential platform for its services ecosystem. Ford Will Use Apple Software in New Self-Driving System
- Positive Sentiment: Reports that Apple is preparing a smarter shopping assistant for the App Store and testing a more AI-driven buying experience suggest new ways to improve commerce, engagement, and monetization across its ecosystem. Apple Tests Smarter Shopping Experience
- Positive Sentiment: Wall Street sentiment remains constructive in places, with Morgan Stanley reportedly raising its Apple target and several pieces arguing Apple could be an underappreciated AI beneficiary as it readies new Macs, iMacs, and other hardware built for AI demand. Apple Plans To Overhaul Computers to Meet AI Demand
- Neutral Sentiment: Samsung’s new foldables and the broader “AI hardware” race are keeping Apple in the spotlight, but the news is mostly competitive context rather than a direct near-term catalyst.
- Negative Sentiment: Apple lost a key court bid, leaving a $634 million Apple Watch blood-oxygen patent verdict in place, which keeps legal overhangs alive and could raise investor concern about additional costs or product restrictions. Apple Fails to Overturn $634 Million Masimo Verdict
- Negative Sentiment: Multiple market notes point to Apple’s valuation being rich and the stock being vulnerable to volatility into earnings, with some analysts warning that momentum may be peaking after a strong run.
Apple Stock Down 1.3%
AAPL opened at $321.66 on Friday. The firm’s 50 day simple moving average is $305.96 and its two-hundred day simple moving average is $278.63. The company has a market capitalization of $4.72 trillion, a PE ratio of 38.89, a PEG ratio of 2.81 and a beta of 1.10. Apple Inc. has a 1-year low of $201.50 and a 1-year high of $334.99. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70.
Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. During the same period in the prior year, the business posted $1.65 EPS. Apple’s revenue was up 16.6% on a year-over-year basis. As a group, equities analysts forecast that Apple Inc. will post 8.76 EPS for the current year.
Apple Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. This is an increase from Apple’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. Apple’s dividend payout ratio is 13.06%.
Apple Profile
Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.
Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.
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