Torrey Payne Wealth Management LLC Takes $6.55 Million Position in Apple Inc. $AAPL

Torrey Payne Wealth Management LLC bought a new stake in shares of Apple Inc. (NASDAQ:AAPL) during the 4th quarter, HoldingsChannel reports. The firm bought 25,641 shares of the iPhone maker’s stock, valued at approximately $6,549,000. Apple makes up 5.9% of Torrey Payne Wealth Management LLC’s portfolio, making the stock its 8th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Reyes Financial Architecture Inc. lifted its position in shares of Apple by 0.4% during the third quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock worth $2,520,000 after purchasing an additional 37 shares in the last quarter. WESPAC Advisors LLC grew its holdings in Apple by 0.3% during the 4th quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker’s stock valued at $3,351,000 after purchasing an additional 39 shares in the last quarter. Interactive Financial Advisors Inc. increased its stake in Apple by 4.0% during the 4th quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock worth $286,000 after buying an additional 40 shares during the period. Orion Investment Co lifted its holdings in Apple by 0.3% in the 4th quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker’s stock worth $3,902,000 after buying an additional 41 shares in the last quarter. Finally, Seven Springs Wealth Group LLC boosted its position in Apple by 0.3% in the 3rd quarter. Seven Springs Wealth Group LLC now owns 15,451 shares of the iPhone maker’s stock valued at $3,934,000 after buying an additional 42 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

AAPL opened at $298.01 on Friday. The company has a 50-day moving average of $288.95 and a 200-day moving average of $272.80. The company has a market capitalization of $4.38 trillion, a P/E ratio of 36.04, a PEG ratio of 2.58 and a beta of 1.09. Apple Inc. has a 1-year low of $196.85 and a 1-year high of $317.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07.

Apple (NASDAQ:AAPL) last issued its 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. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.65 EPS. Equities analysts expect that Apple Inc. will post 8.75 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a dividend of $0.27 per share. The ex-dividend date was Monday, May 11th. This is an increase from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.4%. Apple’s payout ratio is currently 13.06%.

Insider Transactions at Apple

In other news, insider Ben Borders sold 116 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider directly owned 38,713 shares in the company, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Timothy D. Cook sold 64,949 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total value of $16,511,984.27. Following the sale, the chief executive officer directly owned 3,280,418 shares in the company, valued at approximately $833,980,668.14. This represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 97,875 shares of company stock worth $24,998,541. 0.06% of the stock is owned by corporate insiders.

Trending Headlines about Apple

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

Wall Street Analysts Forecast Growth

AAPL has been the subject of several recent analyst reports. Moffett Nathanson raised their target price on Apple from $241.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Jefferies Financial Group reiterated a “hold” rating on shares of Apple in a research note on Tuesday, June 9th. Morgan Stanley set a $325.00 price target on Apple in a report on Tuesday, June 9th. Wells Fargo & Company restated an “overweight” rating and set a $310.00 price objective (up from $300.00) on shares of Apple in a research note on Friday, May 1st. Finally, Oppenheimer restated a “market perform” rating on shares of Apple in a report on Tuesday, June 9th. One 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 given a Sell rating to the company. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average price target of $314.59.

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.