Apple Inc. (NASDAQ:AAPL) is United Services Automobile Association's 6th Largest Position

United Services Automobile Association increased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 349,900 shares of the iPhone maker's stock after buying an additional 5,830 shares during the period. Apple accounts for approximately 2.9% of United Services Automobile Association's investment portfolio, making the stock its 6th biggest holding. United Services Automobile Association's holdings in Apple were worth $87,622,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Drystone LLC bought a new position in Apple in the 4th quarter valued at about $25,000. Life Planning Partners Inc bought a new position in Apple in the 4th quarter valued at about $47,000. SPX Gestao de Recursos Ltda bought a new position in Apple in the 3rd quarter valued at about $71,000. Teachers Insurance & Annuity Association of America bought a new position in Apple in the 3rd quarter valued at about $77,000. Finally, Pillar Financial Advisors LLC bought a new position in Apple in the 4th quarter valued at about $82,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Apple

In other news, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the sale, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. This represents a 3.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the sale, the chief financial officer now directly owns 4,569 shares of the company's stock, valued at $941,214. This trade represents a 50.01% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,507 shares of company stock valued at $42,694,080. Corporate insiders own 0.06% of the company's stock.

Apple Price Performance

NASDAQ AAPL traded down $0.45 during trading hours on Wednesday, hitting $202.82. The company had a trading volume of 43,304,587 shares, compared to its average volume of 56,081,220. 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 capitalization of $3.03 trillion, a price-to-earnings ratio of 32.19, a PEG ratio of 2.44 and a beta of 1.27. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The firm has a 50 day simple moving average of $202.29 and a 200 day simple moving average of $224.69.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The company's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.53 earnings per share. Equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple announced that its board has approved a stock buyback program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.51%. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is currently 16.20%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AAPL. DA Davidson raised their price target on shares of Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. China Renaissance initiated coverage on shares of Apple in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price target on the stock. Scotiabank cut shares of Apple to a "market perform" rating in a research report on Friday, May 2nd. Jefferies Financial Group reissued an "underperform" rating and set a $170.62 target price (up previously from $167.88) on shares of Apple in a research report on Friday, May 2nd. Finally, Needham & Company LLC reissued a "hold" rating and set a $225.00 target price on shares of Apple in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $235.80.

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.