Torrey Payne Wealth Management LLC Acquires Shares of 25,641 Apple Inc. $AAPL

Torrey Payne Wealth Management LLC bought a new stake in Apple Inc. (NASDAQ:AAPL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 25,641 shares of the iPhone maker’s stock, valued at approximately $6,549,000. Apple accounts for approximately 5.9% of Torrey Payne Wealth Management LLC’s investment portfolio, making the stock its 8th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Isthmus Partners LLC boosted its stake in shares of Apple by 6.4% in the third quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker’s stock valued at $25,000 after buying an additional 5,808 shares in the last quarter. Sellwood Investment Partners LLC raised its holdings in Apple by 110.9% during the third quarter. Sellwood Investment Partners LLC now owns 135 shares of the iPhone maker’s stock worth $34,000 after purchasing an additional 71 shares during the last quarter. ROSS JOHNSON & Associates LLC increased its holdings in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares in the last quarter. LSV Asset Management acquired a new position in Apple during the fourth quarter worth about $65,000. Finally, Timmons Wealth Management LLC purchased a new position in Apple during the fourth quarter worth $69,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Trading Up 0.7%

Shares of AAPL opened at $298.01 on Friday. Apple Inc. has a twelve month low of $196.85 and a twelve month high of $317.40. The firm has a market capitalization of $4.38 trillion, a P/E ratio of 36.04, a price-to-earnings-growth ratio of 2.58 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The stock’s fifty day simple moving average is $288.95 and its 200 day simple moving average is $272.80.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. The firm had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.65 earnings per share. On average, equities research analysts forecast that Apple Inc. will post 8.75 earnings per share for the current year.

Apple Increases Dividend

The company 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. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. This is an increase from Apple’s previous quarterly dividend of $0.26. Apple’s dividend payout ratio is presently 13.06%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AAPL shares. KeyCorp reaffirmed a “sector weight” rating on shares of Apple in a research report on Tuesday, June 9th. DA Davidson reissued a “neutral” rating and issued a $270.00 price target on shares of Apple in a research note on Friday, May 1st. Stifel Nicolaus set a $330.00 price target on Apple in a report on Monday, March 2nd. UBS Group reaffirmed a “buy” rating on shares of Apple in a research note on Tuesday, June 9th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Apple in a report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $314.59.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Bank of America reiterated a Buy rating on Apple and kept a $380 price target, citing Apple’s pricing power, strong supply-chain position, and ability to manage rising memory costs. Article Title
• Positive Sentiment: President Trump said Apple will work with Intel to design and build chips in the U.S., raising hopes for a domestic supply-chain boost and stronger strategic positioning for Apple. Article Title
• Positive Sentiment: Analysts said Apple is relatively well positioned to weather the AI-driven memory shortage because of its scale, inventory, and supplier relationships, which may help protect hardware margins. Article Title
• Neutral Sentiment: Apple reportedly plans to raise prices across its product lineup, which could support margins but may also weigh on consumer demand if the increases are too large. Article Title
• Neutral Sentiment: Apple is also reportedly developing new AI wearables and a foldable iPhone for 2027, which supports the long-term product pipeline but is unlikely to affect near-term earnings. Article Title
• Negative Sentiment: Italy opened a Digital Markets Act probe into Apple’s cloud interoperability practices, adding another regulatory risk for the company in Europe. Article Title

Insider Transactions at Apple

In related news, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $421,850.00. Following the completion of the sale, the chief financial officer owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. This represents a 10.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ben Borders sold 116 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the transaction, the insider owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 97,875 shares of company stock worth $24,998,541 over the last 90 days. Company insiders own 0.06% of the company’s stock.

About Apple

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.