Montz Harcus Wealth Management LLC Acquires 2,113 Shares of Apple Inc. (NASDAQ:AAPL)

Montz Harcus Wealth Management LLC grew its position in Apple Inc. (NASDAQ:AAPL) by 6.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,849 shares of the iPhone maker’s stock after purchasing an additional 2,113 shares during the quarter. Apple makes up 5.3% of Montz Harcus Wealth Management LLC’s investment portfolio, making the stock its 6th largest position. Montz Harcus Wealth Management LLC’s holdings in Apple were worth $6,902,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Atlantic Private Wealth LLC purchased a new position in shares of Apple in the 1st quarter valued at $30,000. Wyrmwood Management LLC grew its position in shares of Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 69 shares during the last quarter. Gilfoyle & Co LLC grew its position in shares of Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares during the last quarter. Summit Wealth Group LLC grew its position in shares of Apple by 16,252.3% in the 1st quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 6,949,659 shares during the last quarter. Finally, HBC Financial Services PLLC grew its position in shares of Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after buying an additional 80 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AAPL shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 target price on shares of Apple in a research report on Tuesday. Maxim Group assumed coverage on shares of Apple in a research report on Wednesday. They set a “hold” rating and a $178.00 price objective on the stock. Piper Sandler lowered their price objective on shares of Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. DZ Bank reissued a “hold” rating and set a $180.00 price objective on shares of Apple in a research report on Thursday, March 28th. Finally, DA Davidson assumed coverage on shares of Apple in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $166.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.34.

Insiders Place Their Bets

In other news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the sale, the senior vice president now directly owns 136,572 shares in the company, valued at $23,068,376.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Jeffrey E. Williams sold 59,162 shares of Apple stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at $84,378,155.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the sale, the senior vice president now owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 366,271 shares of company stock worth $63,653,887. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $167.04 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. The stock has a market cap of $2.58 trillion, a P/E ratio of 26.02, a PEG ratio of 2.04 and a beta of 1.27. The company has a 50-day moving average of $175.15 and a two-hundred day moving average of $182.10. Apple Inc. has a 12-month low of $162.80 and a 12-month high of $199.62.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. The company had revenue of $119.60 billion during the quarter, compared to analysts’ expectations of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.88 earnings per share. As a group, research analysts predict that Apple Inc. will post 6.54 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s payout ratio is currently 14.95%.

About Apple

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.