Apple Inc. (NASDAQ:AAPL) is MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s 5th Largest Position

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH trimmed its position in Apple Inc. (NASDAQ:AAPL) by 4.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 291,208 shares of the iPhone maker’s stock after selling 14,373 shares during the period. Apple comprises about 2.1% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s investment portfolio, making the stock its 5th largest position. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Apple were worth $67,851,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in Apple by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after buying an additional 2,785,807 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Apple by 6.7% in the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after acquiring an additional 3,245,281 shares during the last quarter. Capital International Investors increased its position in Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after purchasing an additional 2,474,887 shares during the last quarter. American Century Companies Inc. raised its stake in Apple by 3.2% during the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after purchasing an additional 1,065,759 shares during the period. Finally, Swedbank AB boosted its holdings in shares of Apple by 13.4% in the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after purchasing an additional 2,359,409 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. UBS Group reaffirmed a “neutral” rating and issued a $236.00 target price on shares of Apple in a research report on Monday. Tigress Financial raised their target price on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 28th. Barclays decreased their price target on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, November 1st. Wedbush restated an “outperform” rating and set a $300.00 price objective on shares of Apple in a research note on Friday, November 29th. Finally, Bank of America reissued a “buy” rating and set a $256.00 price target on shares of Apple in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.68.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This represents a 24.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This trade represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock worth $92,007,745 over the last ninety days. Insiders own 0.06% of the company’s stock.

Apple Stock Up 1.3 %

NASDAQ:AAPL opened at $242.65 on Wednesday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $242.76. The firm has a market capitalization of $3.67 trillion, a price-to-earnings ratio of 39.91, a PEG ratio of 2.35 and a beta of 1.23. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The business’s fifty day moving average price is $229.59 and its 200 day moving average price is $220.74.

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

Apple Dividend Announcement

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

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.