Mandatum Life Insurance Co Ltd Trims Stock Position in Apple Inc. (NASDAQ:AAPL)

Mandatum Life Insurance Co Ltd decreased its position in Apple Inc. (NASDAQ:AAPL) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,318 shares of the iPhone maker’s stock after selling 300 shares during the period. Mandatum Life Insurance Co Ltd’s holdings in Apple were worth $831,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. O Connor Financial Group LLC raised its holdings in shares of Apple by 1.2% in the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock valued at $896,000 after buying an additional 41 shares during the last quarter. 1620 Investment Advisors Inc. increased its position in Apple by 0.5% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after acquiring an additional 45 shares during the period. Carolina Wealth Advisors LLC raised its stake in Apple by 1.3% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after acquiring an additional 46 shares during the last quarter. Menard Financial Group LLC lifted its position in Apple by 0.4% during the 3rd quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock worth $2,848,000 after acquiring an additional 48 shares during the period. Finally, Hanseatic Management Services Inc. grew its stake in shares of Apple by 1.3% in the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock valued at $945,000 after purchasing an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the subject of several recent research reports. KeyCorp reaffirmed an “underweight” rating and set a $200.00 price target on shares of Apple in a report on Friday, January 31st. Jefferies Financial Group reiterated an “underperform” rating on shares of Apple in a research note on Wednesday, February 19th. Barclays lifted their price objective on Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Raymond James increased their target price on Apple to $250.00 and gave the stock a “buy” rating in a research note on Monday, January 20th. Finally, Evercore ISI lifted their price target on Apple to $260.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $243.88.

Insider Activity

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is owned by insiders.

Apple Trading Down 0.2 %

AAPL stock opened at $235.33 on Friday. The business has a fifty day moving average price of $237.89 and a 200 day moving average price of $233.94. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a fifty-two week low of $164.08 and a fifty-two week high of $260.10. The stock has a market capitalization of $3.54 trillion, a price-to-earnings ratio of 37.35, a P/E/G ratio of 2.44 and a beta of 1.20.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. Apple’s payout ratio is 15.87%.

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.