Apple Inc. $AAPL is Munich Reinsurance Co Stock Corp in Munich's 7th Largest Position

Key Points

• Munich Reinsurance Co Stock Corp in Munich increased its Apple stake by 25.9% in the fourth quarter, buying 61,807 additional shares and bringing its total to 300,900 shares worth about $82.17 million. Apple is now its 7th largest holding and makes up roughly 2.0% of its portfolio.
• Institutional ownership remains heavy, with 67.73% of Apple shares held by hedge funds and other institutional investors. Several other funds also boosted their positions in the latest quarter.
• Analyst sentiment is still generally positive: Apple has a Moderate Buy consensus rating and an average price target of $308.74. The company also beat quarterly earnings and revenue estimates, while recently raising its quarterly dividend to $0.27 per share.

Munich Reinsurance Co Stock Corp in Munich boosted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 25.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 300,900 shares of the iPhone maker's stock after acquiring an additional 61,807 shares during the period. Apple comprises approximately 2.0% of Munich Reinsurance Co Stock Corp in Munich's portfolio, making the stock its 7th largest position. Munich Reinsurance Co Stock Corp in Munich's holdings in Apple were worth $82,170,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AAPL. First National Bank of Hutchinson lifted its position in Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after acquiring an additional 6,982 shares during the last quarter. Eagle Capital Management LLC lifted its position in Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after acquiring an additional 272 shares during the last quarter. Brighton Jones LLC lifted its position in Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after acquiring an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after acquiring an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE lifted its position in Apple by 2.4% in the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock valued at $12,587,000 after acquiring an additional 1,155 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Barclays reissued an "underweight" rating and issued a $253.00 price target (up from $248.00) on shares of Apple in a research report on Friday, May 1st. Rosenblatt Securities boosted their price target on shares of Apple from $268.00 to $276.00 and gave the company a "neutral" rating in a research report on Friday, May 1st. Monness Crespi & Hardt upped their target price on shares of Apple from $315.00 to $335.00 and gave the company a "buy" rating in a report on Friday, May 1st. BNP Paribas Exane raised shares of Apple from a "neutral" rating to an "outperform" rating and set a $300.00 target price for the company in a report on Friday, April 17th. Finally, Royal Bank Of Canada set a $325.00 target price on shares of Apple in a report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and an average target price of $308.74.

Insider Activity

In related news, insider Ben Borders sold 1,274 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the transaction, the insider directly owned 38,713 shares of the company's stock, valued at $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Timothy D. Cook sold 64,949 shares of the stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the transaction, the chief executive officer directly owned 3,280,418 shares of the company's stock, valued at $833,980,668.14. This represents a 1.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 97,759 shares of company stock valued at $24,964,305. Company insiders own 0.06% of the company's stock.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple continues to be viewed as one of the best long-term large-cap tech names, with reports highlighting strong iPhone demand, its massive installed base, and the potential for Services to drive the next leg of earnings growth. Apple Services story
• Positive Sentiment: Analysts remain constructive: Evercore ISI reiterated an Outperform rating and raised its price target, while other commentary says Apple can keep compounding earnings and free cash flow as it expands AI features and devices. Analyst commentary
• Positive Sentiment: Apple executives saying the company is still in the “early innings” of spatial computing is reinforcing the view that new product categories could support future growth beyond the iPhone. Spatial computing article
• Neutral Sentiment: Apple’s legal fight with Epic Games remains a drag on sentiment, as the company asked the U.S. Supreme Court to review a contempt order tied to App Store fees. Epic lawsuit article
• Negative Sentiment: Some analysts are becoming more cautious on valuation after Apple’s run to new highs, warning the stock may be due for profit-taking. KeyBanc caution article

Apple Price Performance

Shares of NASDAQ:AAPL opened at $308.82 on Monday. The company has a 50-day simple moving average of $269.64 and a 200-day simple moving average of $268.62. Apple Inc. has a one year low of $193.46 and a one year high of $311.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The stock has a market capitalization of $4.54 trillion, a price-to-earnings ratio of 37.34, a PEG ratio of 2.69 and a beta of 1.06.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating analysts' consensus estimates of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business had revenue of $111.18 billion during the quarter, compared to analysts' expectations of $109.46 billion. During the same period in the prior year, the company earned $1.65 earnings per share. The business's revenue was up 16.6% compared to the same quarter last year. On average, analysts predict that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a dividend of $0.27 per share. This is an increase from Apple's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. Apple's dividend payout ratio is currently 13.06%.

About Apple

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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