Apple Inc. (NASDAQ:AAPL) is Chevy Chase Trust Holdings LLC’s 3rd Largest Position

Chevy Chase Trust Holdings LLC trimmed its position in Apple Inc. (NASDAQ:AAPL) by 1.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 9,729,510 shares of the iPhone maker’s stock after selling 182,049 shares during the period. Apple makes up 6.5% of Chevy Chase Trust Holdings LLC’s holdings, making the stock its 3rd biggest holding. Chevy Chase Trust Holdings LLC’s holdings in Apple were worth $2,049,229,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Apple by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock worth $253,766,929,000 after purchasing an additional 18,067,216 shares in the last quarter. Norges Bank bought a new stake in Apple during the fourth quarter worth about $33,912,466,000. Wellington Management Group LLP boosted its position in shares of Apple by 3.6% in the 4th quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock worth $11,677,190,000 after purchasing an additional 2,096,360 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Apple by 2.0% in the fourth quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock worth $10,531,834,000 after acquiring an additional 1,067,587 shares during the last quarter. Finally, Capital International Investors increased its holdings in shares of Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after acquiring an additional 2,474,887 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The disclosure for this sale can be found here. Insiders sold 113,884 shares of company stock worth $23,723,887 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Erste Group Bank raised shares of Apple from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. UBS Group boosted their price objective on shares of Apple from $190.00 to $236.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Piper Sandler Companies reissued a “neutral” rating and issued a $225.00 target price (up previously from $190.00) on shares of Apple in a report on Tuesday, July 9th. The Goldman Sachs Group upped their price target on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, StockNews.com upgraded shares of Apple from a “hold” rating to a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $239.17.

Apple Price Performance

NASDAQ:AAPL opened at $228.20 on Friday. The firm has a market capitalization of $3.50 trillion, a price-to-earnings ratio of 35.49, a PEG ratio of 2.62 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The business has a 50 day simple moving average of $222.41 and a 200-day simple moving average of $200.19. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same period last year, the company earned $1.26 earnings per share. Apple’s revenue was up 4.9% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 6.7 EPS for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio is presently 15.55%.

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.