Apple Inc. (NASDAQ:AAPL) is Masso Torrence Wealth Management Inc.’s 2nd Largest Position

Masso Torrence Wealth Management Inc. cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 60,181 shares of the iPhone maker’s stock after selling 1,797 shares during the quarter. Apple makes up approximately 7.9% of Masso Torrence Wealth Management Inc.’s portfolio, making the stock its 2nd biggest position. Masso Torrence Wealth Management Inc.’s holdings in Apple were worth $15,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Bull Oak Capital LLC boosted its position in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares during the period. SPX Gestao de Recursos Ltda acquired a new position in shares of Apple during the third quarter worth $71,000. Christopher J. Hasenberg Inc raised its holdings in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares in the last quarter. Teachers Insurance & Annuity Association of America purchased a new position in shares of Apple in the 3rd quarter valued at $77,000. Finally, ARK Investment Management LLC acquired a new stake in shares of Apple during the third quarter worth about $110,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AAPL shares. Barclays increased their price target on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Jefferies Financial Group reiterated an “underperform” rating on shares of Apple in a research note on Wednesday, February 19th. JPMorgan Chase & Co. raised their price objective on shares of Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Sanford C. Bernstein raised their price target on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $262.00 target price on shares of Apple in a research note on Monday, January 27th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $243.65.

Apple Trading Up 1.1 %

AAPL opened at $220.73 on Tuesday. The firm has a market capitalization of $3.32 trillion, a P/E ratio of 35.04, a P/E/G ratio of 2.44 and a beta of 1.18. The firm’s 50 day moving average is $231.54 and its 200-day moving average is $233.41. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a 52-week low of $164.08 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio is currently 15.87%.

About Apple

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.