Apple Inc. $AAPL Stock Position Decreased by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its stake in Apple Inc. by 14.8%, now holding 212,203 shares valued at approximately $43.54 million.
• Company insiders, including SVPs Deirdre O'brien and Katherine L. Adams, sold a combined total of 254,922 shares worth over $64 million in the last three months.
• As of the recent reports, Apple Inc. has a market capitalization of $3.77 trillion and analysts hold a "Moderate Buy" consensus rating with a target price of $248.29.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 14.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,203 shares of the iPhone maker's stock after selling 36,990 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Apple were worth $43,538,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Burkett Financial Services LLC raised its stake in shares of Apple by 0.6% in the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock valued at $3,199,000 after acquiring an additional 93 shares in the last quarter. Avid Wealth Partners LLC raised its stake in shares of Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock valued at $935,000 after acquiring an additional 930 shares in the last quarter. Bell & Brown Wealth Advisors LLC raised its stake in shares of Apple by 0.4% in the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker's stock valued at $13,772,000 after acquiring an additional 240 shares in the last quarter. Andina Capital Management LLC raised its stake in shares of Apple by 209.2% in the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker's stock valued at $1,507,000 after acquiring an additional 4,591 shares in the last quarter. Finally, Plum Street Advisors LLC raised its stake in shares of Apple by 4.0% in the 1st quarter. Plum Street Advisors LLC now owns 7,889 shares of the iPhone maker's stock valued at $1,752,000 after acquiring an additional 301 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Deirdre O'brien sold 43,013 shares of Apple stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the sale, the senior vice president directly owned 136,687 shares of the company's stock, valued at $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the sale, the senior vice president directly owned 179,158 shares of the company's stock, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,922 shares of company stock valued at $64,320,190 over the last three months. Company insiders own 0.06% of the company's stock.

Apple Trading Down 1.6%

AAPL stock opened at $254.04 on Friday. The company has a market cap of $3.77 trillion, a P/E ratio of 38.55, a PEG ratio of 2.51 and a beta of 1.09. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The business has a fifty day moving average of $236.75 and a 200-day moving average of $215.77.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm's quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.40 earnings per share. As a group, equities research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple's payout ratio is 15.78%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Seaport Res Ptn raised Apple to a "strong-buy" rating in a report on Wednesday, October 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a report on Friday, July 25th. Bank of America raised their target price on Apple from $260.00 to $270.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Evercore ISI set a $290.00 target price on Apple and gave the company an "outperform" rating in a report on Friday, September 26th. Finally, Sanford C. Bernstein assumed coverage on Apple in a report on Monday, September 15th. They issued an "outperform" rating and a $290.00 target price on the stock. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $248.29.

About Apple

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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.