Apple Inc. (NASDAQ:AAPL) Shares Sold by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 12.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 91,229 shares of the iPhone maker’s stock after selling 13,518 shares during the period. Apple accounts for 2.7% of Central Pacific Bank Trust Division’s holdings, making the stock its 4th biggest position. Central Pacific Bank Trust Division’s holdings in Apple were worth $21,256,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Fidelis Capital Partners LLC grew its holdings in shares of Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares during the period. Hershey Financial Advisers LLC acquired a new stake in shares of Apple in the 2nd quarter valued at $42,000. Access Investment Management LLC acquired a new stake in shares of Apple during the 1st quarter worth about $140,000. Hoese & Co LLP raised its stake in Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 57 shares in the last quarter. Finally, Sage Financial Group Inc. purchased a new position in Apple during the 2nd quarter worth approximately $206,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AAPL shares. Bank of America reiterated a “buy” rating and set a $256.00 target price on shares of Apple in a research note on Thursday, October 3rd. Maxim Group boosted their target price on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Melius Research reaffirmed a “buy” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, August 27th. JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 target price on shares of Apple in a research report on Tuesday, September 10th. Finally, Tigress Financial boosted their target price on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $235.25.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. This represents a 35.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock worth $92,007,745 in the last three months. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $228.28 on Wednesday. The company has a 50-day moving average price of $227.34 and a 200-day moving average price of $217.31. The company has a market cap of $3.45 trillion, a price-to-earnings ratio of 37.55, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 earnings per share. As a group, equities analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Apple 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.