Bullseye Investment Management LLC Invests $352,000 in Apple Inc. (NASDAQ:AAPL)

Bullseye Investment Management LLC acquired a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,445 shares of the iPhone maker's stock, valued at approximately $352,000.

Several other large investors have also made changes to their positions in the business. Drystone LLC purchased a new position in shares of Apple in the fourth quarter valued at approximately $25,000. Life Planning Partners Inc acquired a new position in Apple in the 4th quarter valued at $47,000. SPX Gestao de Recursos Ltda acquired a new position in Apple in the 3rd quarter valued at $71,000. Pillar Financial Advisors LLC purchased a new position in Apple in the 4th quarter valued at $82,000. Finally, Compass Planning Associates Inc acquired a new stake in Apple during the 4th quarter worth $96,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the 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 sale, the chief operating officer now owns 390,059 shares of the company's stock, valued at $87,377,116.59. This trade represents a 8.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider now directly owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,507 shares of company stock worth $42,694,080. Company insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AAPL shares. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Barclays cut their price objective on shares of Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Jefferies Financial Group restated an "underperform" rating and set a $170.62 target price (up from $167.88) on shares of Apple in a report on Friday, May 2nd. Evercore ISI upped their price target on Apple to $250.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Bank of America reaffirmed a "buy" rating and issued a $235.00 price target on shares of Apple in a report on Tuesday. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $234.86.

Apple Trading Up 0.2%

NASDAQ:AAPL traded up $0.40 on Thursday, reaching $199.18. 43,675,646 shares of the company's stock were exchanged, compared to its average volume of 55,560,287. The business has a fifty day moving average of $200.92 and a 200-day moving average of $223.60. 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 Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The firm has a market capitalization of $2.97 trillion, a price-to-earnings ratio of 31.62, a price-to-earnings-growth ratio of 2.44 and a beta of 1.22.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the prior year, the firm earned $1.53 EPS. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, 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 share buyback plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a $0.26 dividend. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio (DPR) is presently 16.20%.

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.