Montz Harcus Wealth Management LLC Has $8.49 Million Position in Apple Inc. (NASDAQ:AAPL)

Montz Harcus Wealth Management LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,921 shares of the iPhone maker’s stock after selling 148 shares during the period. Apple comprises about 4.7% of Montz Harcus Wealth Management LLC’s portfolio, making the stock its 5th biggest position. Montz Harcus Wealth Management LLC’s holdings in Apple were worth $8,494,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AAPL. AMF Tjanstepension AB increased its stake in shares of Apple by 21.1% in the third quarter. AMF Tjanstepension AB now owns 3,380,064 shares of the iPhone maker’s stock valued at $787,631,000 after buying an additional 588,427 shares during the period. Latitude Advisors LLC boosted its position in Apple by 0.3% during the third quarter. Latitude Advisors LLC now owns 17,236 shares of the iPhone maker’s stock valued at $4,016,000 after acquiring an additional 50 shares during the last quarter. Penn Davis Mcfarland Inc. lifted its stake in shares of Apple by 12.4% in the 3rd quarter. Penn Davis Mcfarland Inc. now owns 185,781 shares of the iPhone maker’s stock valued at $43,287,000 after purchasing an additional 20,461 shares during the period. Echo Wealth Management LLC grew its stake in Apple by 10.2% during the third quarter. Echo Wealth Management LLC now owns 32,153 shares of the iPhone maker’s stock worth $7,380,000 after purchasing an additional 2,968 shares during the period. Finally, Koss Olinger Consulting LLC increased its holdings in Apple by 1.5% in the third quarter. Koss Olinger Consulting LLC now owns 18,011 shares of the iPhone maker’s stock worth $4,197,000 after purchasing an additional 262 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barclays boosted their target price on shares of Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Raymond James boosted their target price on Apple to $250.00 and gave the company a “buy” rating in a research report on Friday, April 4th. Bank of America reduced their price objective on Apple from $265.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Maxim Group increased their target price on Apple to $215.00 and gave the stock a “hold” rating in a report on Friday, February 21st. Finally, Morgan Stanley decreased their price target on shares of Apple from $252.00 to $220.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-two have given a buy rating and two have issued 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 an average price target of $235.85.

Apple Price Performance

Shares of NASDAQ AAPL opened at $202.52 on Tuesday. The firm has a market cap of $3.04 trillion, a price-to-earnings ratio of 32.15, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. The stock has a fifty day simple moving average of $222.27 and a two-hundred day simple moving average of $230.99. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a 1-year low of $164.08 and a 1-year high of $260.10.

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

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.49%. Apple’s payout ratio is 15.87%.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 38,822 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the transaction, the senior vice president now directly owns 179,158 shares in the company, valued at $40,072,269.86. The trade was a 17.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the sale, the chief executive officer now owns 3,280,295 shares in the company, valued at $733,637,976.75. This trade represents a 3.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 182,451 shares of company stock valued at $40,818,720 over the last three months. Company insiders own 0.06% of the company’s stock.

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.