Resonant Capital Advisors LLC grew its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 9.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,698 shares of the iPhone maker’s stock after acquiring an additional 4,579 shares during the quarter. Apple comprises about 1.4% of Resonant Capital Advisors LLC’s portfolio, making the stock its 16th largest position. Resonant Capital Advisors LLC’s holdings in Apple were worth $9,360,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Secure Asset Management LLC raised its stake in shares of Apple by 0.4% in the first quarter. Secure Asset Management LLC now owns 180,995 shares of the iPhone maker’s stock valued at $31,604,000 after acquiring an additional 665 shares during the period. Engrave Wealth Partners LLC grew its holdings in shares of Apple by 0.7% in the first quarter. Engrave Wealth Partners LLC now owns 27,385 shares of the iPhone maker’s stock worth $4,782,000 after purchasing an additional 181 shares during the last quarter. Mason & Associates Inc grew its holdings in shares of Apple by 5.7% in the first quarter. Mason & Associates Inc now owns 31,648 shares of the iPhone maker’s stock worth $5,526,000 after purchasing an additional 1,704 shares during the last quarter. Waypoint Capital Advisors LLC grew its holdings in shares of Apple by 0.6% in the first quarter. Waypoint Capital Advisors LLC now owns 51,859 shares of the iPhone maker’s stock worth $9,051,000 after purchasing an additional 322 shares during the last quarter. Finally, Security Financial Services INC. grew its holdings in shares of Apple by 0.4% in the first quarter. Security Financial Services INC. now owns 37,893 shares of the iPhone maker’s stock worth $6,616,000 after purchasing an additional 143 shares during the last quarter. 57.98% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Deirdre O’brien sold 8,000 shares of Apple stock in a transaction on Monday, April 18th. The shares were sold at an average price of $164.91, for a total value of $1,319,280.00. Following the sale, the senior vice president now owns 136,290 shares of the company’s stock, valued at approximately $22,475,583.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the sale, the senior vice president now directly owns 452,334 shares in the company, valued at approximately $73,151,454.48. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.
NASDAQ:AAPL opened at $147.04 on Monday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88. The firm has a market cap of $2.38 trillion, a price-to-earnings ratio of 23.87, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. The company has a 50 day moving average price of $143.79 and a 200-day moving average price of $159.81. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last posted its earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.09. Apple had a net margin of 26.41% and a return on equity of 152.88%. The firm had revenue of $97.28 billion during the quarter, compared to analyst estimates of $93.99 billion. During the same period in the previous year, the firm earned $1.40 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts anticipate that Apple Inc. will post 6.1 earnings per share for the current fiscal year.
Apple announced that its Board of Directors has initiated a stock repurchase program on Thursday, April 28th that allows the company to buyback $90.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Investors of record on Monday, May 9th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, May 6th. This represents a $0.92 dividend on an annualized basis and a yield of 0.63%. This is a boost from Apple’s previous quarterly dividend of $0.22. Apple’s dividend payout ratio (DPR) is currently 14.94%.
A number of research analysts have recently commented on AAPL shares. Deutsche Bank Rese… set a $210.00 price target on shares of Apple in a report on Friday, April 8th. UBS Group set a $185.00 price target on shares of Apple in a report on Tuesday, June 21st. Oppenheimer reiterated an “outperform” rating and set a $190.00 target price on shares of Apple in a report on Wednesday, June 8th. Credit Suisse Group set a $169.00 target price on shares of Apple in a report on Friday, April 29th. Finally, Rosenblatt Securities dropped their target price on shares of Apple from $184.00 to $168.00 and set a “neutral” rating on the stock in a report on Monday, May 2nd. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $184.83.
Apple 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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