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

Resonant Capital Advisors LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 4.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,233 shares of the iPhone maker’s stock after purchasing an additional 3,745 shares during the period. Apple comprises about 1.4% of Resonant Capital Advisors LLC’s investment portfolio, making the stock its 17th biggest holding. Resonant Capital Advisors LLC’s holdings in Apple were worth $18,927,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Hershey Financial Advisers LLC bought a new stake in shares of Apple in the second quarter worth $42,000. Christopher J. Hasenberg Inc grew 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 worth $69,000 after acquiring an additional 144 shares during the period. Cordant Inc. grew 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 worth $158,000 after acquiring an additional 173 shares during the period. Hoese & Co LLP lifted its position in Apple by 6.7% during 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 in the last quarter. Finally, Sage Financial Group Inc. purchased a new position in Apple during the second quarter valued at $206,000. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of several analyst reports. Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 target price on shares of Apple in a research report on Monday, September 9th. Morgan Stanley reiterated an “overweight” rating and set a $273.00 target price on shares of Apple in a research report on Friday. Moffett Nathanson lowered their target price on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 19th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 target price on shares of Apple in a research report on Tuesday. Finally, KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $236.78.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction that occurred on 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 $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock valued at $92,007,745 over the last ninety days. 0.06% of the stock is owned by insiders.

Apple Trading Up 0.1 %

Shares of NASDAQ AAPL opened at $248.13 on Friday. The business’s 50 day moving average is $232.50 and its two-hundred day moving average is $223.41. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $250.80. The stock has a market capitalization of $3.75 trillion, a P/E ratio of 40.81, a PEG ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping 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 company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the previous year, the firm posted $1.46 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, research analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.40%. Apple’s payout ratio is currently 16.45%.

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.