Resonant Capital Advisors LLC Purchases 2,296 Shares of Apple Inc. $AAPL

Resonant Capital Advisors LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.1% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 111,880 shares of the iPhone maker's stock after acquiring an additional 2,296 shares during the period. Apple makes up approximately 1.5% of Resonant Capital Advisors LLC's holdings, making the stock its 9th largest holding. Resonant Capital Advisors LLC's holdings in Apple were worth $32,373,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Lifetime Wealth Management P.C. bought a new position in Apple during the fourth quarter valued at about $41,000. ROSS JOHNSON & Associates LLC increased its holdings in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after acquiring an additional 180 shares during the last quarter. LSV Asset Management acquired a new stake in Apple in the 4th quarter valued at approximately $65,000. Timmons Wealth Management LLC bought a new stake in shares of Apple in the 4th quarter worth approximately $69,000. Finally, Inspire Investing LLC bought a new position in shares of Apple during the 4th quarter worth approximately $76,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In other Apple news, SVP Jennifer Newstead sold 1,439 shares of Apple stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $310.95, for a total transaction of $447,457.05. Following the completion of the transaction, the senior vice president owned 37,229 shares in the company, valued at approximately $11,576,357.55. The trade was a 3.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ben Borders sold 116 shares of Apple stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the transaction, the insider owned 38,713 shares of the company's stock, valued at $11,425,754.82. This trade represents a 0.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 4,433 shares of company stock valued at $1,367,024. 0.06% of the stock is owned by corporate insiders.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Orderly CEO succession: Tim Cook is leaving the CEO role after 15 years but will remain Apple’s executive chairman. Cook strongly endorsed successor John Ternus, a longtime hardware leader, potentially reducing fears of an abrupt management break. Tim Cook's parting message: Apple is in the hands of a product builder
• Positive Sentiment: Product catalysts ahead: Apple’s first major product event under Ternus is expected September 9, with reports pointing to new iPhones and a possible foldable model. Strong iPhone demand, potential iOS market-share gains and rising interest in Mac hardware for AI workloads could support future revenue. Apple Valuation Nears $5T as John Ternus Steps Up as New CEO
• Neutral Sentiment: Strong track record and support: Cook’s tenure produced substantial shareholder gains, while Apple’s latest quarter delivered revenue growth and an earnings beat. Analysts’ median price target remains above the current quotation, although the stock’s elevated valuation leaves less room for disappointment.
• Negative Sentiment: AI strategy concerns: Ternus inherits an artificial-intelligence strategy that relies heavily on outside partners, leaving Apple behind leading rivals in some areas. Investors will look for evidence that the new CEO can accelerate AI-powered Siri and on-device capabilities. Apple’s New CEO Inherits an AI Strategy Built on Outsiders
• Negative Sentiment: Execution and valuation risks: Commentators warn that App Store pressure, supply-chain challenges, potential memory-cost inflation and a trailing P/E near 37 make Apple vulnerable if the September launch disappoints. Apple TV+’s latest price increase could also slow subscriber growth. Apple Is Facing One of Its Most Challenging Times in a Decade

Apple Price Performance

Shares of Apple stock traded down $6.07 on Monday, reaching $313.63. 15,356,139 shares of the stock were exchanged, compared to its average volume of 49,963,801. The firm's 50 day moving average is $312.24 and its 200-day moving average is $288.52. Apple Inc. has a one year low of $225.95 and a one year high of $344.57. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. The firm has a market cap of $4.58 trillion, a PE ratio of 35.97, a P/E/G ratio of 2.74 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The firm had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. During the same quarter last year, the business posted $1.57 EPS. The company's revenue was up 16.4% compared to the same quarter last year. As a group, analysts anticipate that Apple Inc. will post 8.76 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Apple's dividend payout ratio (DPR) is currently 12.39%.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of analyst reports. Raymond James Financial reaffirmed a "market perform" rating on shares of Apple in a research note on Friday, July 31st. Rothschild & Co Redburn set a $400.00 target price on Apple and gave the stock a "buy" rating in a report on Monday, August 17th. KGI Securities lowered Apple from an "outperform" rating to a "hold" rating and set a $315.00 price target on the stock. in a report on Monday, June 22nd. Sanford C. Bernstein restated an "outperform" rating on shares of Apple in a report on Monday, June 8th. Finally, UBS Group restated a "neutral" rating on shares of Apple in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $330.53.

About Apple

Apple Inc NASDAQ: AAPL is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple's principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.