Apple Inc. (NASDAQ:AAPL) is Hayek Kallen Investment Management’s Largest Position

Hayek Kallen Investment Management cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,878 shares of the iPhone maker’s stock after selling 1,638 shares during the period. Apple makes up 11.5% of Hayek Kallen Investment Management’s holdings, making the stock its biggest holding. Hayek Kallen Investment Management’s holdings in Apple were worth $32,825,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Hershey Financial Advisers LLC acquired a new stake in shares of Apple during the 2nd quarter worth about $42,000. Christopher J. Hasenberg Inc boosted its stake in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares during the period. Hoese & Co LLP increased its position in shares of 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 acquiring an additional 57 shares during the last quarter. Sage Financial Group Inc. purchased a new stake in shares of Apple in the 2nd quarter valued at approximately $206,000. Finally, Benchmark Wealth Management LLC acquired a new position in shares of Apple in the 2nd quarter worth approximately $208,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In related news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the transaction, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is owned by company insiders.

Apple Stock Up 0.0 %

Apple stock opened at $243.04 on Friday. The company has a market capitalization of $3.67 trillion, a P/E ratio of 39.97, a PEG ratio of 2.38 and a beta of 1.23. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $244.54. The stock has a 50-day simple moving average of $230.23 and a 200-day simple moving average of $221.05.

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, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 earnings per share. Equities research analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.41%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price on shares of Apple in a research report on Friday, November 1st. Loop Capital cut their price objective on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Bank of America raised their target price on Apple to $256.00 and gave the company a “buy” rating in a report on Wednesday. Maxim Group boosted their price target on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, Morgan Stanley reissued an “overweight” rating and set a $273.00 price target on shares of Apple in a research report on Monday, November 25th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $235.68.

Apple Company 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.