The Manufacturers Life Insurance Company Has $3.61 Billion Stock Position in Apple Inc. (NASDAQ:AAPL)

The Manufacturers Life Insurance Company trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,157,132 shares of the iPhone maker’s stock after selling 42,164 shares during the quarter. Apple accounts for 3.4% of The Manufacturers Life Insurance Company’s investment portfolio, making the stock its 2nd largest holding. The Manufacturers Life Insurance Company owned 0.11% of Apple worth $3,613,664,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. True Link Financial Advisors LLC raised its stake in shares of Apple by 7.1% in the first quarter. True Link Financial Advisors LLC now owns 4,074 shares of the iPhone maker’s stock worth $699,000 after purchasing an additional 269 shares during the last quarter. United Capital Management of KS Inc. grew its holdings in Apple by 2.0% during the first quarter. United Capital Management of KS Inc. now owns 90,808 shares of the iPhone maker’s stock worth $15,572,000 after buying an additional 1,790 shares in the last quarter. Red Tortoise LLC raised its position in Apple by 1.5% in the 1st quarter. Red Tortoise LLC now owns 5,428 shares of the iPhone maker’s stock valued at $931,000 after buying an additional 79 shares during the last quarter. Meadow Creek Wealth Advisors LLC lifted its stake in Apple by 60.5% during the 1st quarter. Meadow Creek Wealth Advisors LLC now owns 28,368 shares of the iPhone maker’s stock valued at $4,865,000 after acquiring an additional 10,691 shares in the last quarter. Finally, Wiser Wealth Management Inc boosted its holdings in Apple by 5.2% during the 1st quarter. Wiser Wealth Management Inc now owns 9,549 shares of the iPhone maker’s stock worth $1,637,000 after acquiring an additional 476 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors.

Apple Stock Up 0.4 %

AAPL opened at $225.12 on Thursday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The firm has a market capitalization of $3.40 trillion, a P/E ratio of 37.03, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24. The company has a fifty day moving average price of $226.75 and a 200-day moving average price of $215.45.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.46 earnings per share. Equities research analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s payout ratio is 16.45%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Monness Crespi & Hardt reiterated a “buy” rating and issued a $245.00 target price on shares of Apple in a report on Monday, September 9th. New Street Research reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, September 25th. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. The Goldman Sachs Group increased their price target on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Citigroup lifted their price target on Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $235.51.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade 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 related news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the sale, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 404,040 shares of company stock valued at $91,062,512. Corporate insiders own 0.06% of the company’s stock.

Apple 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.