11,727 Shares in Apple Inc. (NASDAQ:AAPL) Acquired by NBZ Investment Advisors LLC

NBZ Investment Advisors LLC purchased a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 11,727 shares of the iPhone maker's stock, valued at approximately $2,937,000. Apple comprises about 1.6% of NBZ Investment Advisors LLC's portfolio, making the stock its 13th largest holding.

A number of other institutional investors have also recently made changes to their positions in AAPL. Icon Wealth Advisors LLC raised its holdings in Apple by 1.9% during the 3rd quarter. Icon Wealth Advisors LLC now owns 123,487 shares of the iPhone maker's stock valued at $28,773,000 after buying an additional 2,333 shares during the period. Captrust Financial Advisors raised its holdings in Apple by 1.8% during the 3rd quarter. Captrust Financial Advisors now owns 4,934,005 shares of the iPhone maker's stock valued at $1,149,623,000 after buying an additional 85,685 shares during the period. Fred Alger Management LLC raised its holdings in Apple by 1.1% during the 3rd quarter. Fred Alger Management LLC now owns 4,822,803 shares of the iPhone maker's stock valued at $1,123,713,000 after buying an additional 51,495 shares during the period. PDT Partners LLC purchased a new stake in Apple during the 3rd quarter valued at $1,365,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in Apple by 18.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 9,583,232 shares of the iPhone maker's stock valued at $2,232,893,000 after buying an additional 1,475,580 shares during the period. Institutional investors own 67.73% of the company's stock.

Apple Stock Up 1.6%

Shares of NASDAQ AAPL traded up $3.29 during mid-day trading on Friday, reaching $203.92. 46,477,335 shares of the company were exchanged, compared to its average volume of 56,154,463. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The stock has a market cap of $3.05 trillion, a price-to-earnings ratio of 32.37, a P/E/G ratio of 2.44 and a beta of 1.22. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The firm has a 50-day moving average of $201.17 and a 200 day moving average of $224.15.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. The firm's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.53 EPS. On average, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. Apple's dividend payout ratio (DPR) is 16.20%.

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 108,136 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at $733,637,976.75. This trade represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 35,493 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the transaction, the chief operating officer now owns 390,059 shares of the company's stock, valued at approximately $87,377,116.59. The trade was a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on AAPL shares. Barclays decreased their price target on Apple from $197.00 to $173.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Bank of America cut their price objective on Apple from $250.00 to $240.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. China Renaissance started coverage on Apple in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price objective on the stock. UBS Group reaffirmed a "buy" rating on shares of Apple in a research report on Sunday, June 1st. Finally, TD Cowen cut their price objective on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $235.02.

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.