MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 249,193 shares of the iPhone maker's stock after buying an additional 4,804 shares during the period. Apple accounts for 1.6% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's investment portfolio, making the stock its 20th biggest position. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Apple were worth $55,353,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Burkett Financial Services LLC lifted its holdings in shares of Apple by 0.6% during 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. OneAscent Wealth Management LLC lifted its holdings in shares of Apple by 4.6% during the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock valued at $2,337,000 after acquiring an additional 409 shares in the last quarter. TruWealth Advisors LLC lifted its holdings in shares of Apple by 2.8% during the 1st quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock valued at $42,045,000 after acquiring an additional 5,120 shares in the last quarter. Allstate Corp lifted its holdings in shares of Apple by 3,368.2% during the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock valued at $113,062,000 after acquiring an additional 438,471 shares in the last quarter. Finally, Vinva Investment Management Ltd lifted its holdings in shares of Apple by 12.4% during the 4th quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker's stock valued at $192,700,000 after acquiring an additional 83,997 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.
Insiders Place Their Bets
In related news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider directly owned 15,533 shares of the company's stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of research firms have recently issued reports on AAPL. Rosenblatt Securities lowered shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price objective on the stock. in a research note on Friday, May 2nd. TD Cowen dropped their price target on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. UBS Group reiterated a "hold" rating on shares of Apple in a report on Friday, July 18th. Loop Capital cut their price objective on shares of Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Finally, Evercore ISI boosted their price objective on shares of Apple to $250.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and a consensus price target of $235.11.
Get Our Latest Analysis on Apple
Apple Stock Down 0.1%
NASDAQ:AAPL traded down $0.25 during trading hours on Wednesday, hitting $214.15. 46,876,618 shares of the company's stock traded hands, compared to its average volume of 53,159,595. The firm has a market cap of $3.20 trillion, a P/E ratio of 33.36, a P/E/G ratio of 2.40 and a beta of 1.20. 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 stock's fifty day moving average price is $204.67 and its two-hundred day moving average price is $215.18.
Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter in the previous year, the company posted $1.53 earnings per share. The business's quarterly revenue was up 5.1% compared to the same quarter last year. On average, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple announced that its board has authorized a share buyback plan on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.
Apple Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. Apple's payout ratio is presently 16.20%.
Apple Profile
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Free Report)
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.
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