Resolute Financial LLC Increases Position in Apple Inc. (NASDAQ:AAPL)

Resolute Financial LLC increased its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 2.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,859 shares of the iPhone maker’s stock after purchasing an additional 427 shares during the period. Apple accounts for 2.2% of Resolute Financial LLC’s portfolio, making the stock its 8th largest position. Resolute Financial LLC’s holdings in Apple were worth $2,578,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in AAPL. Cooper Financial Group lifted its holdings in shares of Apple by 2.2% in the 1st quarter. Cooper Financial Group now owns 114,581 shares of the iPhone maker’s stock worth $20,007,000 after purchasing an additional 2,516 shares during the last quarter. IFM Investors Pty Ltd raised its stake in Apple by 20.0% during the 1st quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock valued at $456,728,000 after acquiring an additional 435,891 shares in the last quarter. Ironwood Wealth Management LLC. raised its stake in Apple by 0.4% during the 1st quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock valued at $42,016,000 after acquiring an additional 1,040 shares in the last quarter. Allworth Financial LP raised its stake in Apple by 51.5% during the 1st quarter. Allworth Financial LP now owns 582,532 shares of the iPhone maker’s stock valued at $101,716,000 after acquiring an additional 198,064 shares in the last quarter. Finally, First National Bank of Hutchinson raised its stake in Apple by 2.7% during the 1st quarter. First National Bank of Hutchinson now owns 33,893 shares of the iPhone maker’s stock valued at $5,918,000 after acquiring an additional 877 shares in the last quarter. Institutional investors own 57.72% of the company’s stock.

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 176,299 shares of Apple stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $142.16, for a total transaction of $25,062,665.84. Following the completion of the sale, the senior vice president now owns 136,290 shares of the company’s stock, valued at $19,374,986.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 360,651 shares of company stock valued at $53,703,645. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the topic of several recent analyst reports. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research note on Saturday, November 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $189.00 target price on shares of Apple in a research note on Tuesday, November 8th. Itaú Unibanco began coverage on Apple in a research note on Tuesday, July 26th. They set an “underperform” rating and a $136.00 target price on the stock. DA Davidson dropped their price objective on Apple from $185.00 to $167.00 and set a “buy” rating on the stock in a research note on Friday, October 28th. Finally, Barclays dropped their price objective on Apple from $156.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, November 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $176.26.

Apple Stock Performance

Shares of AAPL stock opened at $151.29 on Friday. The company has a market capitalization of $2.41 trillion, a price-to-earnings ratio of 24.76, a P/E/G ratio of 1.93 and a beta of 1.25. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.95. The stock’s fifty day simple moving average is $147.08 and its 200-day simple moving average is $149.88.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.02. The firm had revenue of $90.15 billion during the quarter, compared to analysts’ expectations of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.24 earnings per share. On average, sell-side analysts predict that Apple Inc. will post 6.26 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were given a dividend of $0.23 per share. The ex-dividend date was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. Apple’s payout ratio is 15.06%.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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