Torray Investment Partners LLC Cuts Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Torray Investment Partners LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 0.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,565 shares of the iPhone maker’s stock after selling 163 shares during the period. Apple comprises about 1.9% of Torray Investment Partners LLC’s holdings, making the stock its 19th largest holding. Torray Investment Partners LLC’s holdings in Apple were worth $12,967,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allied Investment Advisors LLC grew its stake in shares of Apple by 2.7% during the first quarter. Allied Investment Advisors LLC now owns 82,976 shares of the iPhone maker’s stock worth $14,229,000 after purchasing an additional 2,166 shares in the last quarter. Capital CS Group LLC lifted its holdings in Apple by 111.6% during the 1st quarter. Capital CS Group LLC now owns 4,762 shares of the iPhone maker’s stock worth $817,000 after buying an additional 45,729 shares during the last quarter. First Affirmative Financial Network boosted its position in shares of Apple by 8.4% during the 1st quarter. First Affirmative Financial Network now owns 21,997 shares of the iPhone maker’s stock worth $3,772,000 after acquiring an additional 1,700 shares in the last quarter. Ballew Advisors Inc increased its holdings in shares of Apple by 2.5% in the 1st quarter. Ballew Advisors Inc now owns 7,842 shares of the iPhone maker’s stock valued at $1,316,000 after acquiring an additional 191 shares during the last quarter. Finally, Meyer Handelman Co. raised its position in shares of Apple by 16.0% during the 1st quarter. Meyer Handelman Co. now owns 604,207 shares of the iPhone maker’s stock worth $103,609,000 after acquiring an additional 83,222 shares in the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction 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 approximately $39,542,136.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research analyst reports. Melius Research reaffirmed a “buy” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, August 27th. Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and upped their target price for the company from $205.00 to $212.92 in a report on Monday, October 7th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price target on shares of Apple in a research note on Thursday, September 19th. Morgan Stanley restated an “overweight” rating and issued a $273.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Finally, UBS Group reiterated a “hold” rating and set a $236.00 target price on shares of Apple in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $237.27.

Apple Stock Down 2.2 %

AAPL opened at $230.76 on Thursday. The business has a 50 day simple moving average of $226.64 and a 200-day simple moving average of $209.48. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The stock has a market capitalization of $3.54 trillion, a P/E ratio of 35.89, a P/E/G ratio of 2.40 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter last year, the company earned $1.26 earnings per share. Apple’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts anticipate that Apple Inc. will post 6.65 earnings per share 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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

Apple 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.