Free Trial

First Hawaiian Bank Has $27.12 Million Position in Apple Inc. (NASDAQ:AAPL)

Apple logo with Computer and Technology background

First Hawaiian Bank lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 7.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 122,090 shares of the iPhone maker's stock after selling 9,868 shares during the quarter. Apple makes up approximately 1.7% of First Hawaiian Bank's holdings, making the stock its 11th largest position. First Hawaiian Bank's holdings in Apple were worth $27,120,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AAPL. Drystone LLC bought a new stake in shares of Apple during the fourth quarter valued at approximately $25,000. Conquis Financial LLC acquired a new stake in Apple in the 4th quarter valued at approximately $63,000. LSV Asset Management bought a new stake in Apple during the 4th quarter valued at $65,000. Pillar Financial Advisors LLC bought a new stake in Apple during the 4th quarter valued at $82,000. Finally, Compass Planning Associates Inc acquired a new position in Apple during the 4th quarter worth $96,000. 67.73% of the stock is currently owned by institutional investors.

Apple Trading Up 0.0%

Shares of AAPL traded up $0.08 during midday trading on Friday, hitting $201.08. The stock had a trading volume of 73,093,456 shares, compared to its average volume of 53,360,608. The business has a 50-day simple moving average of $202.61 and a two-hundred day simple moving average of $220.03. The firm has a market cap of $3.00 trillion, a P/E ratio of 31.32, a price-to-earnings-growth ratio of 2.25 and a beta of 1.22. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter in the prior year, the firm earned $1.53 EPS. The firm's quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its board has authorized a share buyback program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a $0.26 dividend. This represents a $1.04 annualized dividend 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 dividend payout ratio (DPR) is 16.20%.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AAPL. Citigroup reissued a "buy" rating on shares of Apple in a report on Tuesday, June 10th. Raymond James Financial lowered their target price on shares of Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Morgan Stanley restated an "overweight" rating on shares of Apple in a research report on Friday, June 13th. Rosenblatt Securities cut shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price objective for the company. in a report on Friday, May 2nd. Finally, Jefferies Financial Group reissued an "underperform" rating and set a $170.62 target price (up previously from $167.88) on shares of Apple in a report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $234.39.

Get Our Latest Research Report on AAPL

Apple Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Should You Invest $1,000 in Apple Right Now?

Before you consider Apple, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apple wasn't on the list.

While Apple currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Metaverse Stocks And Why You Can't Ignore Them Cover

Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Related Videos

Magnificent 7 Stocks Shift Toward Stability and Selective Growth
3 Tech Stocks to Buy Now—And 3 You’ll Regret Keeping

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines