9,832 Shares in Apple Inc. (NASDAQ:AAPL) Purchased by Michael A. Dubis Financial Planning LLC

Michael A. Dubis Financial Planning LLC purchased a new position in Apple Inc. (NASDAQ:AAPL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,832 shares of the iPhone maker's stock, valued at approximately $2,462,000. Apple accounts for 2.4% of Michael A. Dubis Financial Planning LLC's investment portfolio, making the stock its 8th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of Apple in the 4th quarter valued at $46,868,648,000. State Street Corp raised its holdings in shares of Apple by 10.6% during the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock worth $136,074,372,000 after buying an additional 55,935,105 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Apple by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after buying an additional 49,168,843 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in Apple by 23,555.4% in the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after buying an additional 20,966,232 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock valued at $77,542,863,000 after acquiring an additional 20,483,787 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AAPL. China Renaissance started coverage on Apple in a research note on Tuesday, April 22nd. They set a "buy" rating and a $241.00 target price for the company. Maxim Group upped their price objective on shares of Apple to $215.00 and gave the stock a "hold" rating in a research report on Friday, February 21st. Needham & Company LLC reissued a "hold" rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, June 4th. UBS Group restated a "buy" rating on shares of Apple in a research report on Sunday, June 1st. Finally, Raymond James decreased their target price on shares of Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $235.02.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the sale, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider now directly owns 15,533 shares in the company, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,507 shares of company stock worth $42,694,080. Corporate insiders own 0.06% of the company's stock.

Apple Trading Down 1.2%

Shares of NASDAQ:AAPL traded down $2.47 during trading on Monday, reaching $201.45. The stock had a trading volume of 72,159,282 shares, compared to its average volume of 56,219,988. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The firm's fifty day moving average is $201.17 and its 200 day moving average is $224.12. The stock has a market cap of $3.01 trillion, a price-to-earnings ratio of 31.98, a P/E/G ratio of 2.44 and a beta of 1.22.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The company had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the previous year, the business earned $1.53 EPS. The firm's revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

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 of this dividend was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.52%. Apple's payout ratio is 16.20%.

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 shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its stock is undervalued.

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.