Torren Management LLC Sells 3,414 Shares of Apple Inc. $AAPL

Key Points

• Torren Management LLC cut its Apple stake by 78.8% in the first quarter, selling 3,414 shares and leaving it with 918 shares worth about $233,000.
• Apple posted a strong quarterly report, with EPS of $2.01 and revenue of $111.18 billion, both topping analyst expectations, while revenue rose 16.6% from a year earlier.
• The company also raised its quarterly dividend to $0.27 per share, and analyst sentiment remains mostly positive with a consensus rating of Moderate Buy and an average price target of $326.83.

Torren Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 78.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 918 shares of the iPhone maker's stock after selling 3,414 shares during the period. Apple accounts for approximately 0.1% of Torren Management LLC's portfolio, making the stock its 27th largest holding. Torren Management LLC's holdings in Apple were worth $233,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Apple during the 4th quarter worth approximately $52,266,468,000. Nuveen LLC purchased a new position in shares of Apple in the 1st quarter worth about $17,472,482,000. Cardano Risk Management B.V. boosted its stake in Apple by 890.7% in the fourth quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker's stock worth $11,413,990,000 after buying an additional 37,746,784 shares in the last quarter. Laurel Wealth Advisors LLC grew its holdings in shares of Apple by 20,464.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker's stock valued at $5,553,753,000 after purchasing an additional 26,937,401 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Apple by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock valued at $387,749,545,000 after buying an additional 26,856,752 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Insider Activity at Apple

In other news, insider Ben Borders sold 1,274 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the transaction, the insider directly owned 38,713 shares of the company's stock, valued at approximately $11,226,770. This trade represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.06% of the company's stock.

Apple News Summary

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 Performance

NASDAQ AAPL opened at $321.66 on Friday. Apple Inc. has a twelve month low of $201.50 and a twelve month high of $334.99. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. The firm has a market cap of $4.72 trillion, a price-to-earnings ratio of 38.89, a price-to-earnings-growth ratio of 2.81 and a beta of 1.10. The business has a 50-day moving average price of $305.96 and a 200-day moving average price of $278.63.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating analysts' consensus estimates 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 quarter last year, the business posted $1.65 earnings per share. The business's quarterly revenue was up 16.6% compared to the same quarter last year. As a group, equities research analysts predict that Apple Inc. will post 8.76 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, May 11th. This is an increase from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio (DPR) is presently 13.06%.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of analyst reports. Barclays restated an "underweight" rating on shares of Apple in a research report on Tuesday, June 9th. Citigroup reiterated a "buy" rating and issued a $365.00 price objective (up from $315.00) on shares of Apple in a report on Monday, July 13th. Tigress Financial reiterated a "strong-buy" rating and set a $375.00 target price (up from $305.00) on shares of Apple in a report on Thursday, May 14th. Wedbush reiterated an "outperform" rating and issued a $400.00 price target on shares of Apple in a research note on Friday, June 5th. Finally, KGI Securities downgraded Apple from an "outperform" rating to a "hold" rating and set a $315.00 target price on the stock. in a research note on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $326.83.

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.

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