Apple Inc. (NASDAQ:AAPL) is Monterey Private Wealth Inc.’s 4th Largest Position

Monterey Private Wealth Inc. cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,684 shares of the iPhone maker’s stock after selling 385 shares during the quarter. Apple makes up approximately 6.2% of Monterey Private Wealth Inc.’s portfolio, making the stock its 4th largest holding. Monterey Private Wealth Inc.’s holdings in Apple were worth $18,100,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. Granite Investment Partners LLC raised its stake in shares of Apple by 2.7% during the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after purchasing an additional 7,606 shares during the period. Truist Financial Corp grew its holdings in Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after buying an additional 126,210 shares in the last quarter. EP Wealth Advisors LLC increased its position in shares of Apple by 5.2% during the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock valued at $406,099,000 after buying an additional 95,235 shares during the period. Bellwether Advisors LLC lifted its holdings in shares of Apple by 387.3% in the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after buying an additional 19,352 shares in the last quarter. Finally, Gentry Private Wealth LLC bought a new position in shares of Apple in the second quarter valued at approximately $876,000. Institutional investors own 60.41% of the company’s stock.

Apple Trading Up 0.1 %

AAPL opened at $228.28 on Wednesday. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The business has a 50 day simple moving average of $227.34 and a two-hundred day simple moving average of $217.31. The firm has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 37.55, a PEG ratio of 2.20 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 earnings per share. Analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio is 16.45%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. New Street Research reiterated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. Citigroup increased their price objective on Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Rosenblatt Securities boosted their target price on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Moffett Nathanson lowered their price target on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $235.25.

Insider Activity

In other news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the sale, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. This represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 408,170 shares of company stock valued at $92,007,745. Corporate insiders own 0.06% of the company’s stock.

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.