Chevy Chase Trust Holdings LLC Has $2.46 Billion Stake in Apple Inc. (NASDAQ:AAPL)

Chevy Chase Trust Holdings LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,829,640 shares of the iPhone maker’s stock after selling 231,951 shares during the period. Apple makes up 7.5% of Chevy Chase Trust Holdings LLC’s investment portfolio, making the stock its biggest holding. Chevy Chase Trust Holdings LLC’s holdings in Apple were worth $2,461,538,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Drystone LLC purchased a new stake in shares of Apple in the fourth quarter worth approximately $25,000. Bull Oak Capital LLC raised its stake in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares during the period. Life Planning Partners Inc purchased a new position in Apple in the 4th quarter valued at approximately $47,000. SPX Gestao de Recursos Ltda purchased a new stake in Apple during the 3rd quarter worth about $71,000. Finally, Teachers Insurance & Annuity Association of America bought a new stake in Apple during the 3rd quarter worth approximately $77,000. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the transaction, the senior vice president now directly owns 179,158 shares in the company, valued at $40,072,269.86. This represents a 17.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the sale, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. The trade was a 3.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 182,451 shares of company stock worth $40,818,720 in the last three months. 0.06% of the stock is currently owned by company insiders.

Apple Price Performance

Shares of NASDAQ AAPL opened at $196.79 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The company has a market capitalization of $2.96 trillion, a price-to-earnings ratio of 31.24, a P/E/G ratio of 2.44 and a beta of 1.26. The company has a 50 day simple moving average of $219.65 and a two-hundred day simple moving average of $230.08. Apple Inc. has a fifty-two week low of $164.08 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.51%. Apple’s payout ratio is 15.87%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AAPL shares. Argus upgraded Apple to a “strong-buy” rating in a research note on Friday, January 31st. Raymond James boosted their price target on shares of Apple to $250.00 and gave the stock a “buy” rating in a research note on Friday, April 4th. KeyCorp raised shares of Apple from an “underweight” rating to a “sector weight” rating in a report on Monday, April 14th. Wedbush lowered their price target on Apple from $325.00 to $250.00 and set an “outperform” rating on the stock in a research report on Monday, April 7th. Finally, Moffett Nathanson reiterated a “sell” rating and issued a $188.00 price objective (down from $202.00) on shares of Apple in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.85.

Apple Profile

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.