Hayek Kallen Investment Management Reduces Stake in Apple Inc. (NASDAQ:AAPL)

Hayek Kallen Investment Management cut its stake in Apple Inc. (NASDAQ:AAPL) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 142,516 shares of the iPhone maker’s stock after selling 822 shares during the quarter. Apple makes up approximately 11.2% of Hayek Kallen Investment Management’s investment portfolio, making the stock its largest holding. Hayek Kallen Investment Management’s holdings in Apple were worth $30,017,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Christopher J. Hasenberg Inc bought a new position in shares of Apple in the first quarter valued at about $35,000. Fidelis Capital Partners LLC grew its stake in shares of Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after acquiring an additional 31,278 shares in the last quarter. A.P. Gilfoyle & Co. L.P. acquired a new position in shares of Apple in the fourth quarter valued at about $39,000. University of Texas Texas AM Investment Managment Co. grew its stake in shares of Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after acquiring an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. acquired a new position in shares of Apple in the fourth quarter valued at about $85,000. 60.41% of the stock is owned by institutional investors.

Apple Stock Down 0.1 %

Shares of NASDAQ AAPL opened at $222.50 on Friday. The company has a 50 day simple moving average of $223.14 and a 200 day simple moving average of $198.63. The firm has a market cap of $3.38 trillion, a PE ratio of 34.60, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $1.26 EPS. On average, research analysts forecast that Apple Inc. will post 6.7 EPS for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Apple news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Insiders sold a total of 113,884 shares of company stock worth $23,723,887 in the last quarter. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on AAPL shares. Piper Sandler Companies restated a “neutral” rating and issued a $225.00 price target (up from $190.00) on shares of Apple in a research note on Tuesday, July 9th. Bank of America restated a “buy” rating and issued a $256.00 price target on shares of Apple in a research note on Thursday, September 5th. Melius Research restated a “buy” rating and issued a $265.00 price target on shares of Apple in a research note on Tuesday, August 27th. Erste Group Bank upgraded shares of Apple from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Apple in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $238.62.

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.