Apple Inc. $AAPL Stock: Central Pacific Bank Trust Division Cuts Position

Key Points

• Central Pacific Bank Trust Division reduced its Apple stake by 3.4% in the third quarter, selling 3,203 shares and retaining 91,067 shares valued at approximately $30.3 million. Apple remains the firm’s third-largest holding and represents about 3.2% of its portfolio.
• Institutional investors and hedge funds own approximately 67.73% of Apple’s shares, with major holders including State Street, Berkshire Hathaway, Bank of America, Legal & General and Amundi adjusting their positions.
• Apple reported quarterly earnings and revenue above analyst expectations, while its stock traded near its 12-month high. Analysts’ consensus remains a “Moderate Buy”, with an average price target of $340.39, although some firms maintain neutral or underperform ratings and insiders have sold shares.

Central Pacific Bank Trust Division lessened its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 91,067 shares of the iPhone maker's stock after selling 3,203 shares during the quarter. Apple accounts for approximately 3.2% of Central Pacific Bank Trust Division's portfolio, making the stock its 3rd biggest position. Central Pacific Bank Trust Division's holdings in Apple were worth $30,327,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp grew its holdings in Apple by 4.7% during the 2nd quarter. State Street Corp now owns 630,662,494 shares of the iPhone maker's stock worth $182,897,769,000 after acquiring an additional 28,321,085 shares in the last quarter. Berkshire Hathaway Inc purchased a new stake in shares of Apple in the 2nd quarter valued at approximately $65,950,297,000. Bank of America Corp DE acquired a new stake in shares of Apple in the 2nd quarter valued at $36,986,090,000. Legal & General Group Plc acquired a new stake in shares of Apple in the 2nd quarter valued at $30,443,242,000. Finally, Amundi raised its holdings in shares of Apple by 23.2% in the 1st quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock valued at $18,547,637,000 after purchasing an additional 13,780,080 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

Apple stock opened at $341.27 on Wednesday. The stock has a market capitalization of $4.98 trillion, a PE ratio of 39.14, a price-to-earnings-growth ratio of 2.72 and a beta of 1.07. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. Apple Inc. has a 12 month low of $243.42 and a 12 month high of $348.15. The business has a 50 day simple moving average of $324.00 and a 200-day simple moving average of $304.61.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping the consensus estimate of $1.89 by $0.13. The company had revenue of $109.42 billion during the quarter, compared to analysts' expectations of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The business's revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the business earned $1.57 EPS. Equities analysts predict that Apple Inc. will post 8.75 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Apple's dividend payout ratio is currently 12.39%.

Insider Activity

In related news, insider Timothy Cook sold 191,753 shares of the firm's stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $332.96, for a total value of $63,846,078.88. Following the completion of the sale, the insider owned 3,264,168 shares in the company, valued at $1,086,837,377.28. This trade represents a 5.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 2,399 shares of the firm's stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $336.18, for a total transaction of $806,495.82. Following the completion of the sale, the senior vice president owned 41,992 shares of the company's stock, valued at approximately $14,116,870.56. The trade was a 5.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 279,383 shares of company stock valued at $92,912,517. Company insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group reaffirmed an "underperform" rating on shares of Apple in a research report on Wednesday, September 9th. BTIG Research began coverage on Apple in a report on Monday, August 17th. They issued a "neutral" rating on the stock. Weiss Ratings upgraded Apple from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Needham & Company LLC restated a "hold" rating on shares of Apple in a research note on Thursday, October 1st. Finally, China Renaissance downgraded Apple from a "buy" rating to a "hold" rating and decreased their price target for the stock from $329.00 to $280.00 in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $340.39.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple launched the $299 HomeView smart-home hub, featuring an upgraded Siri AI assistant, along with a new Apple TV 4K, HomePod mini 2, cameras, a video doorbell, smart lock, thermostat and other accessories. The products expand Apple’s ecosystem into the home and provide a potential new source of hardware and services revenue. Apple releases HomeView smart home hub with screen as showcase for Siri AI
• Positive Sentiment: Partnerships with LG Electronics and Schneider Electric broaden the Apple Home Collection, including security, energy-management and access-control products that could increase engagement with iPhones, Apple Watches and other Apple devices. LG announces smart-home accessories developed with Apple
• Positive Sentiment: Analyst support remains favorable. Bernstein reiterated a Buy rating with a $370 target, while JPMorgan raised its target to $360. Reports also indicate Apple’s iPhone market share reached 22% in the latest quarter, and iPhone 18 Pro demand may be stronger than last year. Bernstein reiterates Buy rating on Apple
• Positive Sentiment: A federal judge ordered OpenAI to provide hiring records and other materials in Apple’s trade-secrets lawsuit, potentially helping Apple investigate the recruitment of former employees and its claims against OpenAI. Judge orders OpenAI to turn over hiring records
• Neutral Sentiment: Investors are awaiting iPhone Duo preorders on October 16. Strong purchase intent could support the stock, but pricing and delivery trends will be closely watched.
• Negative Sentiment: Some suppliers are reportedly cutting production of newer iPhone models, while shorter delivery windows for Pro models raise questions about demand. Apple’s shares also trade at a demanding valuation, leaving less room for disappointing December-quarter guidance.
• Negative Sentiment: Analysts warn that SpaceX’s potential Starlink smartphone and Google’s expanding health-data platform could intensify competition in wireless services, wearables and ecosystem engagement over time.

Apple Company Profile

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its best-known products include the iPhone smartphone, Mac personal computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and software platforms, including iOS, macOS, iPadOS, watchOS and visionOS.

Apple's services business includes the App Store, Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+ and iCloud.

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