MontVue Capital Management Inc. Has $638,000 Holdings in Apple Inc. $AAPL

MontVue Capital Management Inc. lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 17.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,871 shares of the iPhone maker’s stock after selling 605 shares during the quarter. MontVue Capital Management Inc.’s holdings in Apple were worth $638,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in AAPL. Capital Investment Counsel Inc increased its holdings in Apple by 18.1% during the 1st quarter. Capital Investment Counsel Inc now owns 575,216 shares of the iPhone maker’s stock worth $127,773,000 after purchasing an additional 88,214 shares in the last quarter. Lodestone Wealth Management LLC increased its holdings in Apple by 1.1% during the 1st quarter. Lodestone Wealth Management LLC now owns 33,459 shares of the iPhone maker’s stock worth $7,432,000 after purchasing an additional 357 shares in the last quarter. Latitude Advisors LLC increased its holdings in Apple by 3.6% during the 1st quarter. Latitude Advisors LLC now owns 11,371 shares of the iPhone maker’s stock worth $2,526,000 after purchasing an additional 398 shares in the last quarter. Arlington Trust Co LLC increased its holdings in Apple by 1.0% during the 1st quarter. Arlington Trust Co LLC now owns 66,701 shares of the iPhone maker’s stock worth $14,816,000 after purchasing an additional 657 shares in the last quarter. Finally, Vishria Bird Financial Group LLC increased its holdings in Apple by 0.3% during the 1st quarter. Vishria Bird Financial Group LLC now owns 105,376 shares of the iPhone maker’s stock worth $23,407,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity

In other news, SVP Deirdre O’brien sold 34,821 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on AAPL shares. China Renaissance started coverage on Apple in a report on Tuesday, April 22nd. They set a “buy” rating and a $241.00 target price for the company. Barclays increased their target price on Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a report on Friday, August 1st. Needham & Company LLC restated a “hold” rating on shares of Apple in a report on Friday, July 25th. JPMorgan Chase & Co. lifted their target price on Apple from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, Morgan Stanley lifted their target price on Apple from $235.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.60.

Apple Price Performance

Shares of NASDAQ AAPL opened at $230.56 on Wednesday. The business’s 50 day moving average price is $210.83 and its two-hundred day moving average price is $213.06. The company has a market cap of $3.42 trillion, a PE ratio of 34.99, a price-to-earnings-growth ratio of 2.42 and a beta of 1.16. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.40 earnings per share. On average, analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its Board of Directors has initiated a share repurchase program on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, August 11th. Apple’s payout ratio is currently 15.78%.

Apple Company 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.