Bank of Hawaii Buys 8,580 Shares of Apple Inc. $AAPL

Key Points

• Bank of Hawaii increased its Apple stake by 5.4% in the fourth quarter, buying 8,580 additional shares and bringing its total holding to 166,346 shares worth about $45.2 million.
• Institutional ownership remains heavy, with 67.73% of Apple’s stock held by institutions, while several other funds also recently added new positions.
• Insiders sold shares recently, including CEO Tim Cook and insider Ben Borders, though Apple’s latest quarter beat expectations on both earnings and revenue and the company continues to draw mostly buy ratings from analysts.

Bank of Hawaii lifted its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 166,346 shares of the iPhone maker's stock after purchasing an additional 8,580 shares during the period. Apple comprises approximately 2.2% of Bank of Hawaii's portfolio, making the stock its 12th biggest holding. Bank of Hawaii's holdings in Apple were worth $45,223,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC lifted its holdings in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after buying an additional 180 shares during the period. Timmons Wealth Management LLC purchased a new stake in Apple in the fourth quarter worth about $69,000. LSV Asset Management bought a new stake in Apple during the 4th quarter valued at approximately $65,000. Inspire Investing LLC purchased a new position in shares of Apple during the 4th quarter worth approximately $76,000. Finally, Basso Capital Management L.P. purchased a new stake in Apple in the fourth quarter worth $88,000. 67.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Ben Borders sold 1,274 shares of the firm's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the sale, the insider owned 38,713 shares of the company's stock, valued at $11,226,770. This trade represents a 3.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 64,949 shares of Apple stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the completion of the sale, the chief executive officer owned 3,280,418 shares of the company's stock, valued at $833,980,668.14. This represents a 1.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 97,875 shares of company stock worth $24,998,541 in the last 90 days. Corporate insiders own 0.06% of the company's stock.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s planned price increases could protect margins as memory and storage costs rise, and Bank of America reiterated a Buy rating with a $380 target, citing Apple’s pricing power and supply-chain strength. Article Title
• Positive Sentiment: Reports of upcoming AI-focused devices and a second-generation iPhone Air support confidence in Apple’s product pipeline and longer-term growth story. Article Title
• Neutral Sentiment: Apple’s planned price hikes may help earnings, but they could also pressure demand if consumers balk at higher handset prices. Article Title
• Neutral Sentiment: Apple opening Brazil’s App Store to alternative marketplaces reduces regulatory friction there, but it also underscores ongoing global platform scrutiny. Article Title

Apple Stock Performance

Shares of AAPL opened at $298.01 on Monday. The company has a market cap of $4.38 trillion, a price-to-earnings ratio of 36.04, a P/E/G ratio of 2.59 and a beta of 1.09. The business's fifty day simple moving average is $289.73 and its two-hundred day simple moving average is $272.91. Apple Inc. has a 12 month low of $196.85 and a 12 month high of $317.40. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.06. The firm had revenue of $111.18 billion during the quarter, compared to analysts' expectations of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company's revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.65 earnings per share. Research analysts anticipate that Apple Inc. will post 8.75 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, May 11th. This is a positive change from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio is 13.06%.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of recent research reports. TD Cowen upped their target price on shares of Apple from $335.00 to $350.00 and gave the stock a "buy" rating in a research report on Tuesday, June 9th. Morgan Stanley set a $325.00 price objective on shares of Apple in a research note on Tuesday, June 9th. UBS Group restated a "buy" rating on shares of Apple in a report on Tuesday, June 9th. Citigroup reaffirmed a "buy" rating on shares of Apple in a research note on Monday, June 1st. Finally, Stifel Nicolaus set a $330.00 target price on shares of Apple in a report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $314.59.

Apple Company Profile

Apple Inc NASDAQ: AAPL is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple's principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

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