MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $44.61 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Oct 4th, 2023

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 5.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 229,970 shares of the iPhone maker’s stock after purchasing an additional 12,267 shares during the quarter. Apple makes up 1.9% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings, making the stock its 11th biggest position. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Apple were worth $44,607,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Atlantic Private Wealth LLC acquired a new position in Apple in the 1st quarter valued at $30,000. St. James Investment Advisors LLC boosted its holdings in Apple by 98.3% in the 4th quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock valued at $31,000 after purchasing an additional 117 shares during the period. Summit Wealth Group LLC boosted its holdings in Apple by 16,252.3% in the 1st quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 6,949,659 shares during the period. HBC Financial Services PLLC boosted its holdings in Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Apple by 12.6% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,103 shares of the iPhone maker’s stock valued at $143,000 after purchasing an additional 123 shares during the period. 58.51% of the stock is owned by institutional investors.

Apple Price Performance

AAPL stock opened at $172.40 on Wednesday. The firm has a market cap of $2.70 trillion, a price-to-earnings ratio of 28.97, a PEG ratio of 2.50 and a beta of 1.28. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $198.23. The company’s fifty day simple moving average is $180.41 and its 200 day simple moving average is $177.52.

Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.07. The business had revenue of $81.80 billion for the quarter, compared to analyst estimates of $81.79 billion. Apple had a net margin of 24.68% and a return on equity of 164.92%. Apple’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 earnings per share. On average, analysts expect that Apple Inc. will post 6.05 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 dividend on an annualized basis and a yield of 0.56%. Apple’s payout ratio is currently 16.13%.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $178.56, for a total value of $2,753,216.64. Following the completion of the sale, the senior vice president now directly owns 136,445 shares in the company, valued at $24,363,619.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, CEO Timothy D. Cook sold 240,569 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the transaction, the chief executive officer now owns 3,280,053 shares in the company, valued at $565,809,142.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $178.56, for a total value of $2,753,216.64. Following the completion of the transaction, the senior vice president now owns 136,445 shares in the company, valued at approximately $24,363,619.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 321,524 shares of company stock worth $55,530,770. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AAPL. Wells Fargo & Company boosted their price objective on shares of Apple from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 24th. Canaccord Genuity Group lifted their price objective on Apple from $185.00 to $205.00 and gave the company a “buy” rating in a report on Friday, August 4th. StockNews.com assumed coverage on Apple in a report on Thursday, August 17th. They issued a “hold” rating for the company. The Goldman Sachs Group decreased their target price on shares of Apple from $222.00 to $216.00 and set a “buy” rating on the stock in a report on Wednesday, September 13th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $220.00 target price on shares of Apple in a report on Friday, September 15th. Nine investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $200.54.

Check Out Our Latest Research Report on Apple

Apple Profile

(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.