Apple Inc. $AAPL Stock Position Lowered by The Manufacturers Life Insurance Company

Key Points

• Manulife reduced its Apple position by 2.1% in the second quarter, selling 239,561 shares and retaining 11.16 million shares valued at approximately $3.25 billion. Institutional investors collectively own 67.73% of Apple.
• Apple reported quarterly earnings of $2.02 per share, beating the $1.89 analyst consensus, while revenue rose 16.4% year over year to $109.42 billion. The company also pays a quarterly dividend of $0.27 per share, yielding approximately 0.3%.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and a $340.02 price target, although some analysts maintain neutral or underweight views. Apple insiders sold approximately $92.9 million in stock over the past 90 days.

The Manufacturers Life Insurance Company trimmed its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,162,107 shares of the iPhone maker's stock after selling 239,561 shares during the period. Apple accounts for about 1.6% of The Manufacturers Life Insurance Company's holdings, making the stock its 8th biggest holding. The Manufacturers Life Insurance Company owned 0.08% of Apple worth $3,251,692,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Avenir Tech Ltd purchased a new stake in shares of Apple in the second quarter valued at approximately $29,000. Longfellow Investment Management Co. LLC acquired a new stake in shares of Apple in the second quarter valued at approximately $30,000. Lifetime Wealth Management P.C. purchased a new position in Apple during the fourth quarter worth approximately $41,000. ABS Investment Management LLC purchased a new position in Apple during the second quarter worth approximately $376,168,000. Finally, Basso Capital Management L.P. purchased a new position in Apple during the fourth quarter worth approximately $88,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

AAPL stock opened at $336.64 on Monday. The business's fifty day moving average price is $322.61 and its 200 day moving average price is $303.36. Apple Inc. has a 12-month low of $243.42 and a 12-month high of $345.34. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $4.91 trillion, a PE ratio of 38.61, a P/E/G ratio of 2.68 and a beta of 1.07.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%. The company had revenue of $109.42 billion during the quarter, compared to analysts' expectations of $109.04 billion. During the same period last year, the business posted $1.57 EPS. Apple's revenue for the quarter was up 16.4% on a year-over-year basis. On average, sell-side analysts anticipate that Apple Inc. will post 8.75 EPS for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Apple's dividend payout ratio is currently 12.39%.

Insider Buying and Selling at Apple

In related news, insider Timothy D. Cook sold 191,753 shares of Apple stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $332.96, for a total value of $63,846,078.88. Following the completion of the transaction, the insider owned 3,264,168 shares in the company, valued at approximately $1,086,837,377.28. The trade was a 5.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 2,399 shares of the company's stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $332.01, for a total transaction of $796,491.99. Following the sale, the senior vice president directly owned 39,593 shares in the company, valued at approximately $13,145,271.93. The trade was a 5.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 279,383 shares of company stock worth $92,912,517 over the last ninety days. Company insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Moffett Nathanson reissued a "neutral" rating and set a $304.00 price objective (up from $270.00) on shares of Apple in a research note on Tuesday, September 8th. UBS Group reaffirmed a "neutral" rating on shares of Apple in a research note on Tuesday, October 6th. KeyCorp reiterated an "underweight" rating on shares of Apple in a report on Friday, September 4th. Citigroup reissued a "buy" rating on shares of Apple in a research report on Thursday, September 10th. Finally, Morgan Stanley set a $355.00 price target on shares of Apple and gave the company an "overweight" rating in a research report on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $340.02.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Potential AI upside: Analyst Dan Ives said Apple could become a “toll collector” for consumer AI by monetizing its more than 2.5 billion active devices and Services ecosystem. He estimates AI could add approximately $75 per share to the company’s value. Apple Could Be the Toll Collector of Consumer AI
• Positive Sentiment: Smart-home expansion: Apple’s planned October 13 “Welcome Home” event could introduce products such as a smart lock, thermostat and doorbell. The initiative may expand Apple’s hardware and Services opportunities and strengthen its position against Amazon and Google. Apple Smart Home Push
• Neutral Sentiment: Possible seasonal order adjustment: Bespoke Investment Group noted that Apple’s autumn iPhone order reductions have occurred in prior years and have sometimes been followed by a stock recovery. Investors will look for evidence that the latest cuts reflect normal supply-chain management rather than lasting demand weakness. Apple’s iPhone Order Cut and Stock Rebound
• Negative Sentiment: iPhone demand concerns: Nikkei Asia reported that Apple asked suppliers to cut iPhone 18 Pro component production, raising concerns that premium pricing is discouraging consumers. The reports are particularly important because Apple is preparing to pursue an even higher-priced product strategy, including a rumored $1,999 foldable iPhone. Apple Cuts iPhone 18 Pro Orders Due to Soft Demand
• Negative Sentiment: Valuation and execution risks: Apple’s elevated earnings multiple leaves less room for disappointment, while higher memory costs could pressure margins. A recent senior vice president stock sale was relatively small but adds to near-term caution. Apple Senior Vice President Stock Sale

Apple Company Profile

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its best-known products include the iPhone smartphone, Mac personal computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and software platforms, including iOS, macOS, iPadOS, watchOS and visionOS.

Apple's services business includes the App Store, Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+ and iCloud.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.