USA Financial Formulas Sells 791 Shares of Apple Inc. (NASDAQ:AAPL)

USA Financial Formulas cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 10.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,469 shares of the iPhone maker’s stock after selling 791 shares during the quarter. Apple makes up about 0.3% of USA Financial Formulas’ portfolio, making the stock its 14th largest position. USA Financial Formulas’ holdings in Apple were worth $1,620,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in Apple by 20,372.7% in the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after acquiring an additional 93,886,664 shares in the last quarter. State Street Corp raised its position in shares of Apple by 10.6% during the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Apple by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after purchasing an additional 20,483,787 shares in the last quarter. FMR LLC grew its position in Apple by 5.3% in the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after purchasing an additional 18,224,005 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Apple by 6.6% in the 3rd 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 during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

AAPL opened at $237.30 on Friday. The firm has a 50-day moving average price of $239.85 and a 200-day moving average price of $233.42. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $3.56 trillion, a price-to-earnings ratio of 37.67, a PEG ratio of 2.44 and a beta of 1.20.

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

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. Apple’s payout ratio is 15.87%.

Insider Buying and Selling

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AAPL. UBS Group raised their price objective on shares of Apple to $236.00 and gave the company a “hold” rating in a research note on Tuesday. TD Cowen restated a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and set a $230.00 price target for the company. in a research note on Tuesday, January 21st. Argus raised Apple to a “strong-buy” rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. raised their target price on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $243.88.

About Apple

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.