The Manufacturers Life Insurance Company trimmed its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 9.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,401,668 shares of the iPhone maker’s stock after selling 1,143,634 shares during the quarter. Apple accounts for approximately 2.5% of The Manufacturers Life Insurance Company’s portfolio, making the stock its 5th largest holding. The Manufacturers Life Insurance Company owned about 0.08% of Apple worth $2,893,538,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Lifetime Wealth Management P.C. acquired a new position in Apple during the fourth quarter valued at approximately $41,000. ROSS JOHNSON & Associates LLC increased its position in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares in the last quarter. LSV Asset Management acquired a new stake in shares of Apple in the fourth quarter worth $65,000. Timmons Wealth Management LLC purchased a new position in shares of Apple in the 4th quarter valued at $69,000. Finally, Inspire Investing LLC purchased a new position in shares of Apple in the 4th quarter valued at $76,000. 67.73% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
AAPL has been the subject of a number of research reports. KeyCorp reaffirmed an “underweight” rating and set a $250.00 price target on shares of Apple in a research report on Tuesday, July 28th. BNP Paribas Exane raised Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research report on Friday, April 17th. Citigroup restated a “buy” rating and set a $365.00 price objective (up from $315.00) on shares of Apple in a research note on Monday, July 13th. Raymond James Financial reaffirmed a “market perform” rating on shares of Apple in a research report on Friday, July 31st. Finally, HSBC upgraded Apple from a “hold” rating to a “buy” rating and increased their target price for the company from $260.00 to $366.00 in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average price target of $328.60.
Apple Trading Down 1.1%
NASDAQ AAPL opened at $304.91 on Wednesday. The stock has a market cap of $4.45 trillion, a P/E ratio of 34.97, a PEG ratio of 2.64 and a beta of 1.09. The company’s fifty day simple moving average is $309.28 and its 200-day simple moving average is $284.26. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. Apple Inc. has a 52 week low of $223.78 and a 52 week high of $344.57.
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. During the same quarter in the previous year, the firm posted $1.57 EPS. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. Equities research analysts predict that Apple Inc. will post 8.76 EPS for the current fiscal year.
Apple Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.27 per share. The ex-dividend date is Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is currently 12.39%.
Apple News Roundup
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Apple’s latest quarter was its strongest June quarter on record, with revenue rising 16.4% year over year to $109.42 billion and earnings per share of $2.02, ahead of Wall Street expectations. Some investors and analysts, including Gene Munster, view the recent weakness as an attractive accumulation opportunity and anticipate a substantial iPhone upgrade cycle. Apple’s Dip Below $310 is a Great Accumulation Opportunity
- Positive Sentiment: Apple is reportedly exploring alternative memory suppliers, including China’s CXMT, as artificial-intelligence demand tightens global DRAM supplies. Diversifying procurement could help reduce shortages and limit production disruptions, although U.S. restrictions may constrain the opportunity. Apple tests China’s CXMT memory chips
- Neutral Sentiment: Apple is participating in efforts to make AI-generated content traceable, potentially strengthening platform trust and content provenance over time. The initiative is strategically relevant but is unlikely to materially affect near-term earnings. Tech’s Big Push to Make AI Content Traceable
- Neutral Sentiment: Apple Pay and Wallet chief Jennifer Bailey is retiring, creating another senior leadership transition. The impact depends on the successor and execution in financial services. Jennifer Bailey retires
- Negative Sentiment: Jefferies downgraded AAPL from Hold to Underperform and cut its price target to $263.66 from $285.56. The firm cited supply-chain checks suggesting Apple may have abandoned a high-end all-glass iPhone, weakening the case for significantly higher average selling prices. Bloomberg separately reported that the 2027 device may still be on track, leaving uncertainty rather than confirmation. Jefferies downgrades Apple
- Negative Sentiment: Surging memory and storage costs could raise iPhone production expenses by roughly 38%, forcing Apple to choose between higher prices that could pressure demand and lower margins. Reports that iPhone prices have already increased by as much as $300 are intensifying concerns about consumer affordability and pricing power. Apple’s Next iPhone Could Test Pricing Power
- Negative Sentiment: Analyst confidence has cooled despite strong revenue growth, with investors questioning whether Apple can sustain premium-device growth at its roughly $4.45 trillion valuation, particularly as Nvidia and other AI leaders capture more market enthusiasm.
Insider Activity
In related news, insider Ben Borders sold 116 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the transaction, the insider owned 38,713 shares in the company, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.06% of the company’s stock.
Apple Profile
Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.
Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.
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