Monterey Private Wealth Inc. Acquires 794 Shares of Apple Inc. (NASDAQ:AAPL)

Monterey Private Wealth Inc. grew its holdings in Apple Inc. (NASDAQ:AAPL) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,478 shares of the iPhone maker’s stock after buying an additional 794 shares during the period. Apple accounts for about 6.5% of Monterey Private Wealth Inc.’s holdings, making the stock its 3rd biggest holding. Monterey Private Wealth Inc.’s holdings in Apple were worth $19,652,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Fairscale Capital LLC acquired a new stake in shares of Apple during the 2nd quarter worth approximately $4,709,000. EverSource Wealth Advisors LLC grew its position in Apple by 8.8% in the second quarter. EverSource Wealth Advisors LLC now owns 206,360 shares of the iPhone maker’s stock worth $45,828,000 after acquiring an additional 16,756 shares during the period. Edge Capital Group LLC increased its stake in Apple by 1.1% during the second quarter. Edge Capital Group LLC now owns 113,328 shares of the iPhone maker’s stock worth $23,869,000 after acquiring an additional 1,186 shares during the last quarter. Delos Wealth Advisors LLC raised its holdings in Apple by 41.2% in the 2nd quarter. Delos Wealth Advisors LLC now owns 11,824 shares of the iPhone maker’s stock valued at $2,490,000 after buying an additional 3,453 shares during the period. Finally, Certified Advisory Corp purchased a new stake in shares of Apple in the 2nd quarter valued at approximately $16,612,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Down 4.8 %

Shares of NASDAQ AAPL opened at $227.48 on Tuesday. The stock has a market capitalization of $3.42 trillion, a price-to-earnings ratio of 36.11, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. Apple Inc. has a 52 week low of $164.08 and a 52 week high of $260.10. The firm has a 50-day moving average price of $237.06 and a 200 day moving average price of $234.16. 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 (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 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%. Equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is 15.87%.

Analysts Set New Price Targets

AAPL has been the topic of several research reports. Barclays increased their target price on Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Redburn Partners set a $230.00 price objective on shares of Apple in a research report on Friday, January 31st. Argus raised Apple to a “strong-buy” rating in a report on Friday, January 31st. Moffett Nathanson reaffirmed a “sell” rating and issued a $188.00 target price (down from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Finally, TD Cowen reissued a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $243.88.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate 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.