Apple Inc. (NASDAQ:AAPL) Stock Holdings Decreased by Chevy Chase Trust Holdings Inc.

Chevy Chase Trust Holdings Inc. lowered its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 1.8% during the first quarter, Holdings Channel reports. The fund owned 11,617,666 shares of the iPhone maker’s stock after selling 218,453 shares during the period. Apple comprises 7.0% of Chevy Chase Trust Holdings Inc.’s investment portfolio, making the stock its largest position. Chevy Chase Trust Holdings Inc.’s holdings in Apple were worth $2,028,558,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of AAPL. State Street Corp raised its position in shares of Apple by 1.8% during the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after acquiring an additional 10,951,705 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Apple by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock worth $46,812,958,000 after acquiring an additional 4,456,954 shares in the last quarter. Norges Bank acquired a new stake in shares of Apple during the 4th quarter worth about $25,228,507,000. Charles Schwab Investment Management Inc. raised its position in shares of Apple by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker’s stock worth $14,131,710,000 after acquiring an additional 1,273,148 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Apple by 5.1% during the 4th quarter. Fisher Asset Management LLC now owns 63,982,104 shares of the iPhone maker’s stock worth $11,361,302,000 after acquiring an additional 3,096,696 shares in the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AAPL. Itaú Unibanco began coverage on Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 target price on the stock. KeyCorp raised their price target on Apple from $173.00 to $177.00 and gave the stock an “overweight” rating in a research note on Tuesday. Bank of America dropped their price target on Apple from $200.00 to $185.00 in a research note on Tuesday, July 26th. The Goldman Sachs Group set a $139.00 price target on Apple in a research note on Friday, July 29th. Finally, Morgan Stanley decreased their price target on shares of Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $179.16.

Apple Price Performance

AAPL opened at $160.01 on Wednesday. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The company’s 50 day simple moving average is $145.07 and its 200 day simple moving average is $157.14. The stock has a market capitalization of $2.59 trillion, a PE ratio of 26.40, a P/E/G ratio of 2.11 and a beta of 1.23. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. Apple’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the business earned $1.30 EPS. As a group, sell-side analysts expect that Apple Inc. will post 6.08 EPS for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Monday, August 8th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.57%. Apple’s payout ratio is 15.18%.

Apple announced that its board has approved a share repurchase program on Thursday, April 28th that permits the company to buyback $90.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Apple Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

Featured Articles

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).



Receive News & Ratings for Apple Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apple and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a Reply

Your email address will not be published. Required fields are marked *