Monterey Private Wealth Inc. Has $17.36 Million Stake in Apple Inc. $AAPL

Monterey Private Wealth Inc. lessened its stake in Apple Inc. (NASDAQ:AAPL) by 0.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,143 shares of the iPhone maker’s stock after selling 335 shares during the quarter. Apple comprises about 5.1% of Monterey Private Wealth Inc.’s investment portfolio, making the stock its 4th largest holding. Monterey Private Wealth Inc.’s holdings in Apple were worth $17,358,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AAPL. Life Planning Partners Inc acquired a new position in shares of Apple during the fourth quarter worth about $47,000. Elite Financial Inc. acquired a new position in Apple during the first quarter valued at approximately $58,000. Conquis Financial LLC acquired a new position in Apple during the fourth quarter valued at approximately $63,000. LSV Asset Management acquired a new position in Apple during the fourth quarter valued at approximately $65,000. Finally, Pillar Financial Advisors LLC acquired a new position in Apple during the fourth quarter valued at approximately $82,000. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of several recent research reports. Melius Research set a $290.00 price target on Apple and gave the company a “buy” rating in a research report on Wednesday. UBS Group restated a “neutral” rating on shares of Apple in a research note on Monday. Phillip Securities restated a “reduce” rating and issued a $200.00 price objective on shares of Apple in a research note on Thursday. DA Davidson restated a “neutral” rating and issued a $250.00 price objective on shares of Apple in a research note on Thursday. Finally, Needham & Company LLC restated a “hold” rating on shares of Apple in a research note on Friday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $240.80.

Apple Price Performance

AAPL stock opened at $230.03 on Friday. The company has a market capitalization of $3.41 trillion, a P/E ratio of 34.91, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The business has a 50-day simple moving average of $221.08 and a two-hundred day simple moving average of $212.48.

Apple (NASDAQ:AAPL) last announced its 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. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter in the previous year, the business earned $1.40 EPS. The company’s revenue was up 9.6% compared to the same quarter last year. Research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

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

Insider Transactions at Apple

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

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.