Resonant Capital Advisors LLC Buys 9,974 Shares of Apple Inc. $AAPL

Resonant Capital Advisors LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 10.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 109,584 shares of the iPhone maker’s stock after acquiring an additional 9,974 shares during the period. Apple accounts for 1.5% of Resonant Capital Advisors LLC’s portfolio, making the stock its 16th largest holding. Resonant Capital Advisors LLC’s holdings in Apple were worth $27,811,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of AAPL. Reyes Financial Architecture Inc. increased its holdings in shares of Apple by 0.4% in the third quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock worth $2,520,000 after purchasing an additional 37 shares during the last quarter. WESPAC Advisors LLC boosted its stake in Apple by 0.3% during the fourth quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker’s stock valued at $3,351,000 after buying an additional 39 shares during the last quarter. Interactive Financial Advisors Inc. boosted its stake in Apple by 4.0% during the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock valued at $286,000 after buying an additional 40 shares during the last quarter. Sugar Maple Asset Management LLC grew its holdings in Apple by 2.0% during the 1st quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker’s stock valued at $515,000 after buying an additional 40 shares in the last quarter. Finally, Orion Investment Co grew its holdings in Apple by 0.3% during the 4th quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker’s stock valued at $3,902,000 after buying an additional 41 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AAPL shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Apple in a report on Wednesday. BNP Paribas Exane raised shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 target price for the company in a report on Friday, April 17th. Bank of America restated a “buy” rating and issued a $380.00 price target on shares of Apple in a research report on Thursday, June 18th. Rosenblatt Securities restated a “neutral” rating and issued a $276.00 price target on shares of Apple in a research report on Tuesday, June 9th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Apple in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $318.43.

Insiders Place Their Bets

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $421,850.00. Following the transaction, the chief financial officer owned 13,366 shares in the company, valued at $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ben Borders sold 116 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the sale, the insider directly owned 38,713 shares in the company, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 2,924 shares of company stock valued at $825,546. 0.06% of the stock is owned by corporate insiders.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: HSBC upgraded Apple Inc. (NASDAQ: AAPL) to Buy and raised its price target to $366 from $260, saying the company is at an operational turning point with AI features and hardware momentum supporting growth. HSBC upgrades Apple to Buy, sees “strong cycle ahead”
• Positive Sentiment: China approved Apple Intelligence for iPhones, and Apple will integrate Alibaba’s Qwen AI model in its China rollout, a key step that could expand Apple’s AI adoption in one of its most important markets. Alibaba and Baidu shares jump in Hong Kong on Apple AI partnership
• Positive Sentiment: Multiple reports say Apple briefly overtook Nvidia in market value, reinforcing the view that investors are rotating toward Apple’s consumer execution and away from some AI-heavy names. Apple closes in on Nvidia in race for world’s most valuable company
• Positive Sentiment: Several commentaries highlighted Apple’s cash generation, shareholder returns, and robotics/innovation efforts, supporting the bullish “cash flow machine” and diversification narrative. Apple’s Core Business Cash Flow Machine Will Support Innovation and Diversification

Apple Stock Performance

Shares of AAPL stock opened at $333.74 on Monday. Apple Inc. has a 1 year low of $201.50 and a 1 year high of $334.99. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The stock’s 50 day simple moving average is $303.61 and its two-hundred day simple moving average is $277.12. The company has a market cap of $4.90 trillion, a PE ratio of 40.36, a price-to-earnings-growth ratio of 2.90 and a beta of 1.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data 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 business had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period last year, the company earned $1.65 EPS. Research analysts predict that Apple Inc. will post 8.76 earnings per share for the current year.

Apple Increases Dividend

The business 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 boost from Apple’s previous quarterly dividend of $0.26. Apple’s payout ratio is currently 13.06%.

About Apple

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.