Bank of Hawaii Sells 292 Shares of Apple Inc. (NASDAQ:AAPL)

Bank of Hawaii lessened its position in Apple Inc. (NASDAQ:AAPL) by 0.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 176,801 shares of the iPhone maker’s stock after selling 292 shares during the quarter. Apple accounts for 1.7% of Bank of Hawaii’s portfolio, making the stock its 15th largest position. Bank of Hawaii’s holdings in Apple were worth $41,195,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AAPL. 1620 Investment Advisors Inc. increased its holdings in Apple by 0.5% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock worth $2,249,000 after acquiring an additional 45 shares in the last quarter. Carolina Wealth Advisors LLC increased its holdings in Apple by 1.3% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after acquiring an additional 46 shares in the last quarter. Verus Financial Partners Inc. increased its holdings in Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after acquiring an additional 48 shares in the last quarter. Lowery Thomas LLC increased its holdings in Apple by 0.7% in the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after acquiring an additional 50 shares in the last quarter. Finally, Latitude Advisors LLC increased its holdings in Apple by 0.3% in the 3rd quarter. Latitude Advisors LLC now owns 17,236 shares of the iPhone maker’s stock worth $4,016,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly 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 disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AAPL has been the subject of several recent analyst reports. Monness Crespi & Hardt boosted their price target on shares of Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. KeyCorp reaffirmed an “underweight” rating and set a $200.00 target price on shares of Apple in a report on Friday. Rosenblatt Securities reaffirmed a “buy” rating and set a $262.00 target price on shares of Apple in a report on Monday, January 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Apple in a report on Friday. Finally, Oppenheimer cut shares of Apple from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $242.52.

Apple Price Performance

Shares of NASDAQ AAPL opened at $236.00 on Monday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a fifty day moving average price of $241.68 and a 200 day moving average price of $230.84. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The company has a market cap of $3.55 trillion, a PE ratio of 38.82, a P/E/G ratio of 2.39 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued 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 return on equity of 152.94% and a net margin of 23.97%. Sell-side analysts forecast that Apple Inc. will post 7.34 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Monday, February 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Monday, February 10th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

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.