Resonant Capital Advisors LLC Boosts Stock Position in Apple Inc. $AAPL

Resonant Capital Advisors LLC raised its position in shares of Apple Inc. (NASDAQ:AAPL) by 12.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 92,256 shares of the iPhone maker’s stock after buying an additional 10,138 shares during the quarter. Apple comprises about 1.2% of Resonant Capital Advisors LLC’s investment portfolio, making the stock its 19th largest holding. Resonant Capital Advisors LLC’s holdings in Apple were worth $18,928,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AAPL. Baker Boyer National Bank increased its position in shares of Apple by 0.3% during the second quarter. Baker Boyer National Bank now owns 18,011 shares of the iPhone maker’s stock worth $3,695,000 after purchasing an additional 47 shares in the last quarter. Salus Financial Advisors LLC grew its stake in Apple by 3.9% during the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after buying an additional 49 shares during the last quarter. Red Tortoise LLC increased its position in Apple by 0.9% during the 2nd quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock valued at $1,173,000 after buying an additional 49 shares in the last quarter. SigFig Wealth Management LLC raised its stake in Apple by 2.8% in the second quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock valued at $368,000 after buying an additional 50 shares during the last quarter. Finally, Shariaportfolio Inc. boosted its holdings in Apple by 1.3% in the second quarter. Shariaportfolio Inc. now owns 3,999 shares of the iPhone maker’s stock worth $820,000 after acquiring an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $277.55 on Friday. The business’s 50-day moving average is $262.61 and its two-hundred day moving average is $231.12. The company has a market capitalization of $4.10 trillion, a P/E ratio of 42.12, a P/E/G ratio of 2.62 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $280.38.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.11. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. During the same quarter in the previous year, the firm posted $1.64 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s payout ratio is presently 13.92%.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the sale, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. This trade represents a 3.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevan Parekh sold 4,199 shares of Apple stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the transaction, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at approximately $2,168,373.35. This trade represents a 32.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 228,052 shares of company stock worth $58,604,588. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AAPL shares. TD Cowen upped their price objective on shares of Apple from $275.00 to $325.00 and gave the company a “buy” rating in a report on Friday, October 31st. Bank of America upped their price target on shares of Apple from $270.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Tigress Financial lifted their price objective on shares of Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 17th. HSBC set a $220.00 price objective on shares of Apple and gave the company a “hold” rating in a report on Monday, September 8th. Finally, The Goldman Sachs Group raised their target price on Apple from $279.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Three analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $278.22.

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.