Resonant Capital Advisors LLC Has $18.24 Million Stock Position in Apple Inc. $AAPL

Resonant Capital Advisors LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 82,118 shares of the iPhone maker’s stock after buying an additional 2,151 shares during the period. Apple makes up approximately 1.3% of Resonant Capital Advisors LLC’s holdings, making the stock its 19th biggest holding. Resonant Capital Advisors LLC’s holdings in Apple were worth $18,241,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Life Planning Partners Inc acquired a new stake in Apple during the 4th quarter worth approximately $47,000. Conquis Financial LLC bought a new position in shares of Apple during the 4th quarter worth approximately $63,000. LSV Asset Management bought a new position in shares of Apple during the 4th quarter worth approximately $65,000. Pillar Financial Advisors LLC bought a new position in shares of Apple during the 4th quarter worth approximately $82,000. Finally, Compass Planning Associates Inc bought a new position in shares of Apple during the 4th quarter worth approximately $96,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Apple Trading Down 0.1%

Shares of Apple stock opened at $230.56 on Wednesday. The business has a fifty day simple moving average of $210.83 and a two-hundred day simple moving average of $213.06. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a market capitalization of $3.42 trillion, a price-to-earnings ratio of 34.99, a P/E/G ratio of 2.42 and a beta of 1.16. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter last year, the firm posted $1.40 EPS. The company’s quarterly revenue was up 9.6% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its board has authorized a share buyback program on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.5%. Apple’s dividend payout ratio (DPR) is currently 15.78%.

Analyst Ratings Changes

AAPL has been the subject of several research reports. UBS Group raised their price target on shares of Apple from $210.00 to $220.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. Monness Crespi & Hardt raised their price target on shares of Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Citigroup raised their price target on shares of Apple from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Finally, Jefferies Financial Group raised shares of Apple from an “underperform” rating to a “hold” rating in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average price target of $237.60.

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.