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

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,829,640 shares of the iPhone maker's stock after selling 231,951 shares during the period. Apple accounts for approximately 7.5% of Chevy Chase Trust Holdings LLC's holdings, making the stock its largest holding. Chevy Chase Trust Holdings LLC owned approximately 0.07% of Apple worth $2,461,538,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Drystone LLC bought a new stake in shares of Apple during the fourth quarter valued at approximately $25,000. Bull Oak Capital LLC increased its holdings in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock valued at $36,000 after purchasing an additional 111 shares during the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in shares of Apple in the 3rd quarter valued at approximately $71,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Apple during the third quarter worth $77,000. Finally, ARK Investment Management LLC bought a new position in Apple during the third quarter worth about $110,000. Institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AAPL shares. Maxim Group lifted their price target on shares of Apple to $215.00 and gave the company a "hold" rating in a research note on Friday, February 21st. Barclays raised their price target on Apple from $183.00 to $197.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. Argus raised shares of Apple to a "strong-buy" rating in a report on Friday, January 31st. Oppenheimer cut Apple from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 29th. Finally, UBS Group raised their price objective on shares of Apple to $236.00 and gave the stock a "buy" rating in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $235.85.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at $733,637,976.75. This trade represents a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the sale, the senior vice president now owns 179,158 shares in the company, valued at $40,072,269.86. This represents a 17.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 182,451 shares of company stock valued at $40,818,720 in the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Up 1.3 %

AAPL stock traded up $2.52 during midday trading on Friday, hitting $196.79. The stock had a trading volume of 51,328,536 shares, compared to its average volume of 56,825,645. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The business has a fifty day moving average price of $219.65 and a two-hundred day moving average price of $230.08. Apple Inc. has a 1-year low of $164.77 and a 1-year high of $260.10. The firm has a market cap of $2.96 trillion, a P/E ratio of 31.24, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed 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 dividend payout ratio is currently 15.87%.

Apple Company 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.