Apple Inc. (NASDAQ:AAPL) is United Services Automobile Association’s 8th Largest Position

United Services Automobile Association reduced its position in Apple Inc. (NASDAQ:AAPL) by 16.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 344,070 shares of the iPhone maker’s stock after selling 67,117 shares during the period. Apple makes up about 2.0% of United Services Automobile Association’s investment portfolio, making the stock its 8th biggest position. United Services Automobile Association’s holdings in Apple were worth $80,168,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AAPL. International Assets Investment Management LLC increased its holdings in Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after buying an additional 93,886,664 shares during the last quarter. State Street Corp grew its position in shares of Apple by 10.6% during the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock valued at $136,074,372,000 after acquiring an additional 55,935,105 shares during the period. FMR LLC increased its stake in shares of Apple by 5.3% in the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after purchasing an additional 18,224,005 shares in the last quarter. Strategic Financial Concepts LLC raised its holdings in Apple by 14,145.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after purchasing an additional 7,558,826 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Apple by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock valued at $22,121,656,000 after purchasing an additional 5,893,741 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Price Performance

AAPL stock opened at $227.65 on Tuesday. The stock has a market cap of $3.42 trillion, a PE ratio of 36.13, a P/E/G ratio of 2.32 and a beta of 1.20. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10. The company has a 50-day moving average price of $241.26 and a 200 day moving average price of $231.13. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 13th. Stockholders of record on Monday, February 10th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is 15.87%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Morgan Stanley upped their price target on Apple from $273.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Sanford C. Bernstein raised their target price on shares of Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Barclays upped their price target on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Citigroup raised their price objective on shares of Apple from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, Maxim Group upped their target price on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $242.52.

Insider Activity

In other news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

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.