Apple Inc. (NASDAQ:AAPL) Shares Acquired by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 249,193 shares of the iPhone maker's stock after buying an additional 4,804 shares during the quarter. Apple makes up approximately 1.6% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's portfolio, making the stock its 20th largest position. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Apple were worth $55,353,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AAPL. Tallon Kerry Patrick bought a new position in shares of Apple in the 4th quarter worth $1,877,000. First National Bank of Hutchinson lifted its stake in Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after purchasing an additional 6,982 shares during the last quarter. Capital & Planning LLC boosted its stake in Apple by 10.7% in the 4th quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock valued at $6,836,000 after purchasing an additional 2,647 shares during the period. Eagle Capital Management LLC lifted its position in shares of Apple by 0.5% during the 4th 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 period. Finally, Brighton Jones LLC lifted its holdings in shares of Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after acquiring an additional 69,207 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AAPL shares. Barclays set a $173.00 target price on Apple and gave the stock an "underweight" rating in a research note on Tuesday, June 24th. TD Cowen decreased their price target on Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Bank of America reissued a "buy" rating and issued a $235.00 price target on shares of Apple in a report on Tuesday, June 10th. Morgan Stanley reaffirmed an "overweight" rating on shares of Apple in a report on Friday, June 13th. Finally, Monness Crespi & Hardt increased their price target on shares of Apple to $245.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $235.11.

Apple Stock Up 0.5%

AAPL traded up $1.13 during trading on Monday, hitting $212.31. The stock had a trading volume of 40,713,768 shares, compared to its average volume of 53,135,758. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The company has a market capitalization of $3.17 trillion, a PE ratio of 33.05, a PEG ratio of 2.36 and a beta of 1.20. The stock has a 50 day simple moving average of $204.57 and a two-hundred day simple moving average of $215.41.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter in the previous year, the company earned $1.53 earnings per share. The company's quarterly revenue was up 5.1% on a year-over-year basis. On average, research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is currently 16.20%.

Apple declared that its Board of Directors has initiated a share buyback plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider directly owned 15,533 shares of the company's stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the transaction, the chief financial officer owned 4,569 shares of the company's stock, valued at approximately $941,214. The trade was a 50.01% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

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.