United Services Automobile Association Has $80.17 Million Position in Apple Inc. (NASDAQ:AAPL)

United Services Automobile Association cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 16.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 344,070 shares of the iPhone maker’s stock after selling 67,117 shares during the period. Apple accounts for 2.0% of United Services Automobile Association’s holdings, making the stock its 8th biggest holding. United Services Automobile Association’s holdings in Apple were worth $80,168,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Heritage Family Offices LLP bought a new position in shares of Apple during the 2nd quarter worth approximately $3,331,000. Fortress Wealth Group LLC grew its holdings in Apple by 2.1% in the second quarter. Fortress Wealth Group LLC now owns 19,812 shares of the iPhone maker’s stock worth $4,458,000 after purchasing an additional 413 shares during the last quarter. Semus Wealth Partners LLC increased its position in shares of Apple by 0.7% during the second quarter. Semus Wealth Partners LLC now owns 136,338 shares of the iPhone maker’s stock worth $28,716,000 after purchasing an additional 974 shares in the last quarter. Golden Road Advisors LLC lifted its holdings in shares of Apple by 4.8% during the 2nd quarter. Golden Road Advisors LLC now owns 8,334 shares of the iPhone maker’s stock valued at $1,906,000 after purchasing an additional 385 shares during the last quarter. Finally, Cook Wealth LLC boosted its position in shares of Apple by 136.4% in the 2nd quarter. Cook Wealth LLC now owns 18,496 shares of the iPhone maker’s stock worth $4,023,000 after purchasing an additional 10,672 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of NASDAQ AAPL opened at $227.65 on Tuesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The firm has a market cap of $3.42 trillion, a PE ratio of 36.13, a PEG ratio of 2.32 and a beta of 1.20. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. The firm has a fifty day moving average of $241.26 and a 200 day moving average of $231.13.

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

Apple Announces Dividend

The company 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 $0.25 dividend. 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 presently 15.87%.

Insider Transactions at Apple

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

Analyst Ratings Changes

A number of equities research analysts have commented on AAPL shares. Oppenheimer cut Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Jefferies Financial Group downgraded shares of Apple from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $211.84 to $200.75 in a research report on Thursday, January 30th. Argus upgraded shares of Apple to a “strong-buy” rating in a research note on Friday, January 31st. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their price target on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $242.52.

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.