Resonant Capital Advisors LLC Grows Stock Holdings in Apple Inc. $AAPL

Key Points

• Resonant Capital Advisors increased its Apple stake by 4.5% in the fourth quarter, ending with 99,610 shares worth about $27.1 million. Apple now represents 1.5% of the firm’s portfolio and is its 18th-largest holding.
• Wall Street remains broadly positive on Apple, with a Moderate Buy consensus rating and an average price target of $308.74. Recent calls included upgrades and bullish targets from firms like BNP Paribas Exane and Morgan Stanley.
• Apple reported strong quarterly results, with EPS of $2.01 and revenue of $111.18 billion, both topping expectations. The company also raised its quarterly dividend to $0.27 per share from $0.26.

Resonant Capital Advisors LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 99,610 shares of the iPhone maker's stock after buying an additional 4,318 shares during the quarter. Apple makes up 1.5% of Resonant Capital Advisors LLC's holdings, making the stock its 18th largest holding. Resonant Capital Advisors LLC's holdings in Apple were worth $27,080,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Sellwood Investment Partners LLC lifted its stake in Apple by 110.9% in the 3rd quarter. Sellwood Investment Partners LLC now owns 135 shares of the iPhone maker's stock worth $34,000 after purchasing an additional 71 shares in the last quarter. ROSS JOHNSON & Associates LLC lifted its stake in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after purchasing an additional 180 shares in the last quarter. LSV Asset Management purchased a new stake in Apple in the 4th quarter worth $65,000. PayPay Securities Corp lifted its stake in Apple by 52.1% in the 4th quarter. PayPay Securities Corp now owns 365 shares of the iPhone maker's stock worth $99,000 after purchasing an additional 125 shares in the last quarter. Finally, eCIO Inc. purchased a new stake in Apple in the 4th quarter worth $112,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on AAPL shares. DA Davidson reiterated a "neutral" rating and issued a $270.00 price target on shares of Apple in a research note on Friday, May 1st. Citigroup reiterated a "buy" rating on shares of Apple in a research note on Tuesday, April 21st. BNP Paribas Exane upgraded shares of Apple from a "neutral" rating to an "outperform" rating and set a $300.00 price target on the stock in a research note on Friday, April 17th. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research note on Friday, May 1st. Finally, Morgan Stanley restated an "overweight" rating and set a $330.00 target price (up from $315.00) on shares of Apple in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $308.74.

Insider Activity

In related news, CEO Timothy D. Cook sold 64,949 shares of the company's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the transaction, the chief executive officer directly owned 3,280,418 shares in the company, valued at approximately $833,980,668.14. This represents a 1.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 1,274 shares of the company's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the transaction, the insider owned 38,713 shares in the company, valued at $11,226,770. The trade was a 3.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 97,759 shares of company stock valued at $24,964,305. 0.06% of the stock is currently owned by company insiders.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple continues to be viewed as one of the best long-term large-cap tech names, with reports highlighting strong iPhone demand, its massive installed base, and the potential for Services to drive the next leg of earnings growth. Apple Services story
• Positive Sentiment: Analysts remain constructive: Evercore ISI reiterated an Outperform rating and raised its price target, while other commentary says Apple can keep compounding earnings and free cash flow as it expands AI features and devices. Analyst commentary
• Positive Sentiment: Apple executives saying the company is still in the “early innings” of spatial computing is reinforcing the view that new product categories could support future growth beyond the iPhone. Spatial computing article
• Neutral Sentiment: Apple’s legal fight with Epic Games remains a drag on sentiment, as the company asked the U.S. Supreme Court to review a contempt order tied to App Store fees. Epic lawsuit article
• Negative Sentiment: Some analysts are becoming more cautious on valuation after Apple’s run to new highs, warning the stock may be due for profit-taking. KeyBanc caution article

Apple Price Performance

Shares of NASDAQ AAPL opened at $308.82 on Monday. The firm's 50-day moving average price is $269.64 and its 200-day moving average price is $268.62. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $4.54 trillion, a price-to-earnings ratio of 37.34, a P/E/G ratio of 2.69 and a beta of 1.06. Apple Inc. has a 12-month low of $193.46 and a 12-month high of $311.40.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.06. The firm had revenue of $111.18 billion for the quarter, compared to analysts' expectations of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business's revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.65 EPS. On average, equities research analysts anticipate that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, May 11th. This is a positive change from Apple's previous quarterly dividend of $0.26. Apple's payout ratio is currently 13.06%.

Apple Company 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.

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