Apple Inc. (NASDAQ:AAPL) Shares Sold by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 79,967 shares of the iPhone maker’s stock after selling 1,266 shares during the period. Apple accounts for 1.5% of Resonant Capital Advisors LLC’s investment portfolio, making the stock its 15th largest holding. Resonant Capital Advisors LLC’s holdings in Apple were worth $20,025,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp grew its position in shares of Apple by 10.6% during the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after buying an additional 55,935,105 shares in the last quarter. FMR LLC lifted its stake in Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after acquiring an additional 18,224,005 shares during the last quarter. Geode Capital Management LLC lifted its stake in Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after acquiring an additional 20,483,787 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Apple by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after acquiring an additional 5,893,741 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Apple by 20,372.7% in the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after purchasing an additional 93,886,664 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Up 0.5 %

Shares of Apple stock opened at $223.19 on Wednesday. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The company has a market cap of $3.35 trillion, a P/E ratio of 35.43, a PEG ratio of 2.44 and a beta of 1.18. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The firm has a fifty day moving average of $230.55 and a two-hundred day moving average of $233.43.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s dividend payout ratio is currently 15.87%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a research report on Wednesday, February 19th. DA Davidson set a $290.00 price target on Apple in a report on Friday, January 31st. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Apple in a research report on Wednesday, February 19th. Wedbush reissued an “outperform” rating and set a $325.00 target price on shares of Apple in a research report on Friday, March 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Apple in a research note on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $245.52.

About Apple

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.