Manitou Investment Management Ltd. Has $15.43 Million Stock Position in Apple Inc. $AAPL

Manitou Investment Management Ltd. reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 17.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 75,226 shares of the iPhone maker’s stock after selling 15,439 shares during the period. Apple accounts for approximately 2.9% of Manitou Investment Management Ltd.’s holdings, making the stock its 12th biggest position. Manitou Investment Management Ltd.’s holdings in Apple were worth $15,434,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Apple by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker’s stock worth $311,157,662,000 after purchasing an additional 5,005,297 shares during the last quarter. Kingstone Capital Partners Texas LLC increased its position in Apple by 573,627.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after buying an additional 205,656,808 shares during the period. Northern Trust Corp lifted its holdings in shares of Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after buying an additional 20,079,472 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Apple by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock valued at $26,220,566,000 after acquiring an additional 13,137,968 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Apple by 1.0% in the first quarter. Goldman Sachs Group Inc. now owns 98,099,909 shares of the iPhone maker’s stock worth $21,790,933,000 after acquiring an additional 984,157 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the subject of several research analyst reports. Citigroup reiterated a “buy” rating and set a $315.00 target price (up from $245.00) on shares of Apple in a research note on Friday, October 31st. BMO Capital Markets restated a “buy” rating on shares of Apple in a report on Wednesday, August 13th. Bank of America increased their target price on shares of Apple from $270.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Moffett Nathanson raised Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price on the stock in a research report on Thursday, September 4th. Finally, The Goldman Sachs Group upped their price target on Apple from $279.00 to $320.00 and gave the company a “buy” rating in a report on Friday, October 31st. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $278.22.

Apple Stock Down 0.5%

Shares of AAPL opened at $268.47 on Friday. The stock has a market cap of $3.98 trillion, a price-to-earnings ratio of 40.74, a P/E/G ratio of 2.62 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $277.32. The company has a 50-day moving average price of $252.25 and a two-hundred day moving average price of $224.54.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.11. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. During the same period in the prior year, the company posted $1.64 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Monday, November 10th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, November 10th. Apple’s dividend payout ratio is currently 13.92%.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the sale, the chief executive officer owned 3,280,295 shares in the company, valued at $842,412,558.95. This trade represents a 3.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of Apple stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 224,300 shares of company stock valued at $57,586,933 in the last ninety days. Insiders own 0.06% of the company’s stock.

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.