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% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 79,967 shares of the iPhone maker’s stock after selling 1,528 shares during the quarter. Apple accounts for about 5.3% of Hamel Associates Inc.’s holdings, making the stock its biggest position. Hamel Associates Inc.’s holdings in Apple were worth $16,843,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fidelis Capital Partners LLC lifted its holdings in Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after buying an additional 31,278 shares during the period. Access Investment Management LLC acquired a new stake in shares of Apple in the first quarter valued at about $140,000. Hoese & Co LLP raised 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 worth $175,000 after acquiring an additional 57 shares during the last quarter. Sage Financial Group Inc. acquired a new position in shares of Apple in the second quarter worth approximately $206,000. Finally, Benchmark Wealth Management LLC bought a new stake in Apple in the second quarter valued at approximately $208,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AAPL shares. Piper Sandler restated a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Barclays reissued an “underweight” rating and set a $186.00 target price on shares of Apple in a research note on Tuesday, October 1st. Loop Capital upgraded shares of Apple from a “hold” rating to a “buy” rating and boosted their target price for the company from $170.00 to $300.00 in a report on Monday, July 15th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. Finally, Evercore ISI reissued a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $239.27.

Apple Price Performance

AAPL opened at $235.00 on Monday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The company has a market capitalization of $3.60 trillion, a price-to-earnings ratio of 36.55, a P/E/G ratio of 2.40 and a beta of 1.24. The firm’s fifty day moving average price is $225.78 and its two-hundred day moving average price is $208.38.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. The business had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.26 earnings per share. As a group, analysts anticipate that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Apple news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the sale, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is owned by company insiders.

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.