Resolute Advisors LLC Boosts Stock Position in Apple Inc. $AAPL

Key Points

• Resolute Advisors LLC increased its Apple stake by 339.4% in the first quarter, holding 7,751 shares valued at approximately $1.97 million. Institutional investors collectively own 67.73% of Apple.
• Apple reported quarterly EPS of $2.02 versus the $1.89 consensus estimate, while revenue rose 16.4% year over year to $109.42 billion. The company also declared a quarterly dividend of $0.27 per share.
• Apple shares opened at $312.41, and analysts maintain a “Moderate Buy” consensus with a $330.44 average price target, though concerns include slowing Services growth, rising memory costs, policy risks and the stock’s premium valuation.

Resolute Advisors LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 339.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,751 shares of the iPhone maker's stock after buying an additional 5,987 shares during the period. Apple accounts for about 0.8% of Resolute Advisors LLC's holdings, making the stock its 20th largest holding. Resolute Advisors LLC's holdings in Apple were worth $1,967,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AAPL. Lifetime Wealth Management P.C. acquired a new stake in Apple during the 4th quarter worth $41,000. ROSS JOHNSON & Associates LLC grew its holdings in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after purchasing an additional 180 shares during the last quarter. Timmons Wealth Management LLC acquired a new stake in shares of Apple during the fourth quarter worth about $69,000. LSV Asset Management purchased a new stake in shares of Apple in the 4th quarter valued at about $65,000. Finally, Inspire Investing LLC acquired a new stake in shares of Apple in the 4th quarter valued at about $76,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Trading Up 0.5%

Shares of Apple stock opened at $312.41 on Friday. Apple Inc. has a 52-week low of $216.58 and a 52-week high of $344.57. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The company's 50-day simple moving average is $309.43 and its 200-day simple moving average is $283.02. The firm has a market cap of $4.56 trillion, a price-to-earnings ratio of 35.83, a price-to-earnings-growth ratio of 2.67 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. During the same quarter last year, the firm earned $1.57 earnings per share. The firm's revenue was up 16.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, August 10th. Apple's dividend payout ratio (DPR) is currently 12.39%.

Insider Buying and Selling at Apple

In related news, insider Ben Borders sold 116 shares of the company's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction 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 represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is currently owned by company insiders.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: App Store revenue rose 0.6% year over year to $3.4 billion during the first 35 days of Apple’s fiscal fourth quarter, despite a 4% decline in iPhone and iPad downloads. Revenue per download increased 4.7% to $1.02, suggesting stronger monetization and supporting the Services business. Apple App Store revenue ticks up despite falling downloads
• Positive Sentiment: Apple’s fiscal third-quarter revenue reached a June-quarter record of $109.4 billion, up 16% year over year, while earnings exceeded estimates. Reports also point to broad iPhone, Mac and Services demand, resilient iPhone sales and continued growth in India, providing a fundamental counterweight to recent market concerns. Apple’s Quarterly iPhone Sales Were Even Better Than They Seem
• Positive Sentiment: Some analysts and market commentators continue to recommend buying the pullback, arguing that Apple’s ecosystem, product pipeline and long-term earnings potential remain attractive despite near-term volatility. 3 Reasons to Buy Apple Stock on the Dip
• Neutral Sentiment: OpenAI asked a federal judge to dismiss Apple’s trade-secrets lawsuit, denying that it misappropriated confidential information through former Apple employees. The filing creates legal and reputational uncertainty, although the financial impact is not yet clear. OpenAI asks US judge to dismiss Apple’s trade secrets case
• Negative Sentiment: Analysts at Phillip Securities, DZ Bank and China Renaissance lowered their views on Apple to Moderate Sell or Hold. Concerns include slowing Services growth, elevated memory costs, supply constraints, policy risks and Apple’s premium valuation.
• Negative Sentiment: Services revenue grew about 12% to $30.7 billion, making it the slowest-growing of Apple’s three largest businesses. Tim Cook also warned that rising memory prices could pressure margins, while the CEO transition adds uncertainty after a record quarter. Tim Cook’s Last Quarter as CEO

Analyst Upgrades and Downgrades

Several research analysts have commented on AAPL shares. Wedbush reaffirmed an "outperform" rating and set a $400.00 price target on shares of Apple in a research report on Friday, June 5th. JPMorgan Chase & Co. lowered their target price on shares of Apple from $345.00 to $340.00 and set an "overweight" rating on the stock in a research report on Friday, July 31st. DA Davidson reiterated a "neutral" rating and issued a $270.00 price target on shares of Apple in a research report on Friday, July 31st. Maxim Group reiterated a "buy" rating and set a $350.00 price target (up from $310.00) on shares of Apple in a research note on Tuesday, June 9th. Finally, Robert W. Baird lifted their price objective on shares of Apple from $310.00 to $330.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, Apple currently has an average rating of "Moderate Buy" and a consensus price target of $330.44.

Apple Profile

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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source