Resonant Capital Advisors LLC Acquires 2,151 Shares of Apple Inc. $AAPL

Key Points

• Resonant Capital Advisors LLC increased its stake in Apple Inc. by 2.7%, owning 82,118 shares valued at $18.24 million, making Apple its 19th largest holding.
• Apple's recent quarterly earnings reported an EPS of $1.57, exceeding expectations of $1.43, with revenues reaching $94.04 billion.
• The company has initiated a stock repurchase program of up to $100 billion, indicating confidence in its valuation, while also declaring a quarterly dividend of $0.26 per share.

Resonant Capital Advisors LLC raised its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 82,118 shares of the iPhone maker's stock after buying an additional 2,151 shares during the quarter. Apple accounts for 1.3% of Resonant Capital Advisors LLC's investment portfolio, making the stock its 19th largest holding. Resonant Capital Advisors LLC's holdings in Apple were worth $18,241,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Conquis Financial LLC acquired a new position in shares of Apple during the fourth quarter worth approximately $63,000. LSV Asset Management bought a new stake in Apple during the fourth quarter worth $65,000. Pillar Financial Advisors LLC bought a new position in Apple in the 4th quarter valued at $82,000. Compass Planning Associates Inc bought a new position in Apple in the 4th quarter valued at $96,000. Finally, Sellwood Investment Partners LLC bought a new position in Apple in the 4th quarter valued at $147,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

Shares of NASDAQ:AAPL traded up $3.51 on Friday, hitting $228.41. The company's stock had a trading volume of 24,751,973 shares, compared to its average volume of 57,281,676. The company has a 50-day simple moving average of $211.89 and a 200 day simple moving average of $213.13. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a market capitalization of $3.39 trillion, a PE ratio of 34.64, a PEG ratio of 2.37 and a beta of 1.16. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company's revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.40 EPS. Sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple declared that its board has initiated a stock repurchase program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio (DPR) is presently 15.78%.

Insider Transactions at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AAPL. Jefferies Financial Group upgraded Apple from an "underperform" rating to a "hold" rating in a research note on Friday, July 18th. Evercore ISI reaffirmed an "outperform" rating and set a $250.00 price target on shares of Apple in a research report on Wednesday, August 13th. Raymond James Financial reaffirmed an "outperform" rating and set a $240.00 price target (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. Barclays upped their price target on Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. Finally, Wedbush reaffirmed an "outperform" rating and set a $270.00 price target on shares of Apple in a research report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $237.98.

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.