Resonant Capital Advisors LLC Sells 1,503 Shares of Apple Inc. (NASDAQ:AAPL)
Resonant Capital Advisors LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 71,845 shares of the iPhone maker’s stock after selling 1,503 shares during the quarter. Apple makes up approximately 1.3% of Resonant Capital Advisors LLC’s holdings, making the stock its 18th largest position. Resonant Capital Advisors LLC’s holdings in Apple were worth $13,832,000 at the end of the most recent reporting period. Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Headinvest LLC grew its stake in Apple by 1.7% in the third quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock worth $9,236,000 after purchasing an additional 872 shares during the period. Sound Income Strategies LLC grew its position in shares of Apple by 16.1% in the 4th quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock worth $14,461,000 after buying an additional 10,425 shares during the period. DNB Asset Management AS increased its stake in shares of Apple by 6.9% in the 4th quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock worth $829,240,000 after acquiring an additional 279,311 shares in the last quarter. Boltwood Capital Management lifted its position in Apple by 2.8% during the 4th quarter. Boltwood Capital Management now owns 37,178 shares of the iPhone maker’s stock valued at $7,158,000 after acquiring an additional 1,021 shares during the period. Finally, NewEdge Wealth LLC boosted its stake in Apple by 16.2% during the fourth quarter. NewEdge Wealth LLC now owns 808,709 shares of the iPhone maker’s stock worth $155,701,000 after acquiring an additional 112,980 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock. Analyst Upgrades and Downgrades A number of equities analysts have weighed in on AAPL shares. Itau BBA Securities raised shares of Apple from an “underperform” rating to a “market perform” rating and raised their target price for the company from $162.00 to $188.00 in a research note on Friday, May 3rd. Morgan Stanley lifted their price objective on Apple from $210.00 to $216.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. UBS Group reissued a “hold” rating and issued a $190.00 target price on shares of Apple in a research note on Monday, March 25th. Barclays lifted their price target on Apple from $158.00 to $164.00 and gave the stock an “underweight” rating in a research report on Friday, May 3rd. Finally, The Goldman Sachs Group increased their price objective on shares of Apple from $223.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $204.71. Get Our Latest Stock Report on AAPL Apple Stock Up 0.0 % NASDAQ AAPL opened at $189.87 on Monday. The stock’s 50-day moving average price is $174.13 and its 200-day moving average price is $182.67. The company has a market capitalization of $2.91 trillion, a P/E ratio of 29.53, a price-to-earnings-growth ratio of 2.28 and a beta of 1.26. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $199.62. Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. The business had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.52 earnings per share. On average, equities research analysts predict that Apple Inc. will post 6.57 earnings per share for the current year. Apple Increases Dividend The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 0.53%. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio is currently 15.55%. Apple declared that its Board of Directors has approved a share repurchase plan on Thursday, May 2nd that permits the company to buyback $110.00 billion in shares. This buyback authorization permits the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued. Insiders Place Their Bets In other news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the transaction, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the transaction, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,999 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the transaction, the insider now directly owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 371,270 shares of company stock worth $64,605,696. Corporate insiders own 0.06% of the company’s stock. About Apple (Free Report) 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.
May 20, 2024 | www.defenseworld.net