Chevy Chase Trust Holdings Inc. Lowers Stake in Apple (AAPL)

Chevy Chase Trust Holdings Inc. lowered its position in shares of Apple (NASDAQ:AAPL) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,091,034 shares of the iPhone maker’s stock after selling 39,639 shares during the period. Apple accounts for approximately 3.7% of Chevy Chase Trust Holdings Inc.’s investment portfolio, making the stock its biggest holding. Chevy Chase Trust Holdings Inc.’s holdings in Apple were worth $861,517,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AAPL. Capital Research Global Investors increased its stake in Apple by 15.0% during the 2nd quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock worth $4,241,383,000 after acquiring an additional 3,845,363 shares during the period. Legal & General Group Plc boosted its holdings in shares of Apple by 1.1% in the 3rd quarter. Legal & General Group Plc now owns 26,393,202 shares of the iPhone maker’s stock valued at $4,067,559,000 after purchasing an additional 287,027 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Apple by 9.3% in the 3rd quarter. Janus Henderson Group PLC now owns 21,854,159 shares of the iPhone maker’s stock valued at $3,367,571,000 after purchasing an additional 1,850,572 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Apple by 3.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 19,262,302 shares of the iPhone maker’s stock valued at $3,259,868,000 after purchasing an additional 570,279 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Apple by 0.4% in the 3rd quarter. Swiss National Bank now owns 19,248,516 shares of the iPhone maker’s stock valued at $2,966,581,000 after purchasing an additional 79,100 shares in the last quarter. Institutional investors own 61.36% of the company’s stock.

In other news, SVP Daniel J. Riccio sold 17,375 shares of Apple stock in a transaction dated Wednesday, April 4th. The stock was sold at an average price of $169.12, for a total value of $2,938,460.00. Following the completion of the transaction, the senior vice president now directly owns 66,191 shares of the company’s stock, valued at approximately $11,194,221.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Philip W. Schiller sold 69,491 shares of Apple stock in a transaction dated Tuesday, April 3rd. The stock was sold at an average price of $166.42, for a total value of $11,564,692.22. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.



A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded Apple from a “buy” rating to a “hold” rating in a report on Friday, January 19th. Mizuho reaffirmed a “neutral” rating and issued a $175.00 target price (up previously from $160.00) on shares of Apple in a report on Friday, January 19th. Barclays set a $174.00 target price on Apple and gave the company a “neutral” rating in a report on Thursday, January 18th. Vetr downgraded Apple from a “buy” rating to a “hold” rating and set a $184.49 target price on the stock. in a report on Tuesday, February 27th. Finally, Bank of America downgraded Apple from a “buy” rating to a “neutral” rating and raised their target price for the company from $180.00 to $220.00 in a report on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $203.21.

AAPL stock opened at $174.73 on Friday. Apple has a 1-year low of $140.45 and a 1-year high of $183.50. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.24 and a quick ratio of 1.20. The stock has a market capitalization of $874,962.88, a PE ratio of 18.97, a price-to-earnings-growth ratio of 1.31 and a beta of 1.25.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.82 by $0.07. Apple had a return on equity of 37.37% and a net margin of 21.13%. The firm had revenue of $88.29 billion during the quarter, compared to analyst estimates of $87.62 billion. During the same period last year, the company posted $3.36 EPS. The business’s quarterly revenue was up 12.7% on a year-over-year basis. analysts expect that Apple will post 11.37 earnings per share for the current year.

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About Apple

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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