Central Pacific Bank Trust Division Buys 1,653 Shares of Apple Inc. (NASDAQ:AAPL)

Central Pacific Bank Trust Division raised its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 91,378 shares of the iPhone maker's stock after purchasing an additional 1,653 shares during the quarter. Apple comprises approximately 2.8% of Central Pacific Bank Trust Division's portfolio, making the stock its 3rd largest holding. Central Pacific Bank Trust Division's holdings in Apple were worth $20,298,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Regent Peak Wealth Advisors LLC increased its position in Apple by 0.9% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 111,858 shares of the iPhone maker's stock worth $28,012,000 after purchasing an additional 1,050 shares during the period. RMR Wealth Builders increased its position in Apple by 0.7% during the 4th quarter. RMR Wealth Builders now owns 119,262 shares of the iPhone maker's stock worth $29,866,000 after purchasing an additional 786 shares during the period. Signal Advisors Wealth LLC increased its position in Apple by 7.3% during the 4th quarter. Signal Advisors Wealth LLC now owns 40,991 shares of the iPhone maker's stock worth $10,265,000 after purchasing an additional 2,794 shares during the period. Rosenberg Matthew Hamilton increased its position in Apple by 0.5% during the 4th quarter. Rosenberg Matthew Hamilton now owns 11,330 shares of the iPhone maker's stock worth $2,837,000 after purchasing an additional 53 shares during the period. Finally, Capital CS Group LLC increased its position in Apple by 109.4% during the 4th quarter. Capital CS Group LLC now owns 3,797 shares of the iPhone maker's stock worth $951,000 after purchasing an additional 44,406 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on AAPL. Morgan Stanley restated an "overweight" rating on shares of Apple in a report on Friday, June 13th. Monness Crespi & Hardt upped their price target on Apple to $245.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Evercore ISI upped their price target on Apple to $250.00 and gave the stock a "buy" rating in a report on Friday, June 6th. UBS Group restated a "buy" rating on shares of Apple in a report on Sunday, June 1st. Finally, Tigress Financial upped their price target on Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a report on Thursday, April 3rd. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $234.86.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $200.30 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The firm's 50-day moving average price is $202.29 and its two-hundred day moving average price is $220.98. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The stock has a market capitalization of $2.99 trillion, a P/E ratio of 31.20, a P/E/G ratio of 2.25 and a beta of 1.22.

Apple (NASDAQ:AAPL - Get Free Report) last issued its 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. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter last year, the company posted $1.53 earnings per share. Apple's revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is 16.20%.

Apple announced that its board has authorized a share buyback plan on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

Insider Activity

In other news, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the sale, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. The trade was a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the sale, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. This trade represents a 17.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,507 shares of company stock valued at $42,694,080. Insiders own 0.06% of the company's stock.

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.

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