Resonant Capital Advisors LLC Acquires 3,745 Shares of Apple Inc. (NASDAQ:AAPL)

Resonant Capital Advisors LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 4.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 81,233 shares of the iPhone maker’s stock after buying an additional 3,745 shares during the quarter. Apple accounts for about 1.4% of Resonant Capital Advisors LLC’s investment portfolio, making the stock its 17th biggest position. Resonant Capital Advisors LLC’s holdings in Apple were worth $18,927,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Hershey Financial Advisers LLC purchased a new stake in shares of Apple in the second quarter valued at approximately $42,000. Christopher J. Hasenberg Inc boosted its holdings in shares of Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the period. Cordant Inc. boosted its holdings in shares of Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after purchasing an additional 173 shares during the period. Hoese & Co LLP boosted its holdings in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares during the period. Finally, Sage Financial Group Inc. purchased a new stake in shares of Apple in the second quarter valued at approximately $206,000. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of a number of research reports. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Citigroup upped their target price on Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Moffett Nathanson lowered their target price on Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a report on Tuesday, November 19th. Finally, Tigress Financial upped their target price on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $236.78.

Apple Price Performance

NASDAQ AAPL opened at $248.13 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The stock’s fifty day moving average price is $232.50 and its 200 day moving average price is $223.41. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $250.80. The company has a market cap of $3.75 trillion, a price-to-earnings ratio of 40.81, a PEG ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the prior year, the firm earned $1.46 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is 16.45%.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at $111,148,695.84. This represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock valued at $92,007,745 in the last ninety days. Company insiders own 0.06% of the company’s stock.

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.