Manitou Investment Management Ltd. Has $40.35 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Manitou Investment Management Ltd. lessened its stake in Apple Inc. (NASDAQ:AAPL) by 9.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 173,187 shares of the iPhone maker’s stock after selling 18,849 shares during the quarter. Apple comprises 7.7% of Manitou Investment Management Ltd.’s investment portfolio, making the stock its 4th biggest position. Manitou Investment Management Ltd.’s holdings in Apple were worth $40,353,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of AAPL. High Net Worth Advisory Group LLC raised its stake in Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after acquiring an additional 1,066 shares in the last quarter. Granite Investment Partners LLC increased its position in Apple by 2.7% during the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after purchasing an additional 7,606 shares in the last quarter. Truist Financial Corp lifted its stake in Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after purchasing an additional 126,210 shares during the last quarter. Sterling Investment Counsel LLC boosted its position in Apple by 3.8% in the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after buying an additional 2,565 shares in the last quarter. Finally, EP Wealth Advisors LLC increased its holdings in shares of Apple by 5.2% during the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after buying an additional 95,235 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Trading Down 2.6 %

NASDAQ AAPL opened at $243.85 on Friday. The stock has a market capitalization of $3.69 trillion, a price-to-earnings ratio of 40.11, a PEG ratio of 2.41 and a beta of 1.23. The business’s fifty day moving average is $238.41 and its 200-day moving average is $228.58. 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 $260.10.

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

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. Apple’s payout ratio is presently 16.45%.

Insider Transactions at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of research reports. Citigroup boosted their price objective on Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Loop Capital reduced their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. UBS Group reaffirmed a “neutral” rating and set a $236.00 price target on shares of Apple in a research note on Monday, December 2nd. New Street Research reiterated a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. Finally, Wells Fargo & Company raised their target price on Apple to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.47.

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.