MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Reduces Stake in Apple Inc. (NASDAQ:AAPL)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its position in Apple Inc. (NASDAQ:AAPL) by 4.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 291,208 shares of the iPhone maker’s stock after selling 14,373 shares during the period. Apple accounts for about 2.1% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s 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.

Several other hedge funds also recently added to or reduced their stakes in the business. Hershey Financial Advisers LLC acquired a new stake in shares of Apple during the second quarter worth about $42,000. Christopher J. Hasenberg Inc raised its holdings in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the last quarter. Hoese & Co LLP raised its holdings in shares of Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the last quarter. Sage Financial Group Inc. acquired a new position in Apple during the second quarter valued at $206,000. Finally, Benchmark Wealth Management LLC purchased a new stake in Apple in the second quarter valued at $208,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Loop Capital dropped their price objective on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Bank of America reissued a “buy” rating and issued a $256.00 price target on shares of Apple in a report on Thursday, October 3rd. Rosenblatt Securities increased their price objective on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Citigroup boosted their target price on Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Two equities 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.68.

Apple Stock Up 1.3 %

Apple stock opened at $242.65 on Wednesday. The stock 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 stock has a 50 day moving average of $229.59 and a two-hundred day moving average of $220.74. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $242.76.

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

Apple Dividend Announcement

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

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. This trade represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is owned by corporate insiders.

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.