Hamel Associates Inc. Sells 1,528 Shares of Apple Inc. (NASDAQ:AAPL)

Hamel Associates Inc. reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,967 shares of the iPhone maker’s stock after selling 1,528 shares during the period. Apple comprises about 5.3% of Hamel Associates Inc.’s investment portfolio, making the stock its largest holding. Hamel Associates Inc.’s holdings in Apple were worth $16,843,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Swedbank AB bought a new stake in Apple during the first quarter worth about $3,026,492,000. Global Assets Advisory LLC raised its stake in shares of Apple by 23,076.4% during the 1st quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock worth $1,584,512,000 after purchasing an additional 9,200,345 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Apple by 158.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after buying an additional 7,067,379 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of Apple by 161.2% in the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after buying an additional 5,405,542 shares in the last quarter. Finally, Natixis increased its holdings in Apple by 127.7% during the first quarter. Natixis now owns 4,632,987 shares of the iPhone maker’s stock worth $794,465,000 after buying an additional 2,598,742 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Piper Sandler Companies reiterated a “neutral” rating and issued a $225.00 price target (up previously from $190.00) on shares of Apple in a research note on Tuesday, July 9th. TD Cowen raised their target price on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Robert W. Baird lifted their price target on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. UBS Group restated a “hold” rating and issued a $236.00 price objective on shares of Apple in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group lifted their target price on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $239.27.

Apple Stock Performance

AAPL opened at $235.00 on Monday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The firm has a market cap of $3.60 trillion, a P/E ratio of 36.55, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The business’s fifty day moving average is $225.78 and its 200-day moving average is $208.38.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.26 earnings per share. Sell-side analysts expect that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. Apple’s dividend payout ratio (DPR) is 15.55%.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction 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 owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 517,924 shares of company stock worth $114,786,399 over the last three months. Corporate insiders own 0.06% of the company’s stock.

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.