First Hawaiian Bank Buys 10,547 Shares of Apple Inc. (NASDAQ:AAPL)

First Hawaiian Bank boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 8.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 134,196 shares of the iPhone maker’s stock after buying an additional 10,547 shares during the quarter. Apple accounts for approximately 1.0% of First Hawaiian Bank’s holdings, making the stock its 13th biggest position. First Hawaiian Bank’s holdings in Apple were worth $28,264,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Yeomans Consulting Group Inc. purchased a new position in shares of Apple in the fourth quarter valued at about $1,713,000. Raleigh Capital Management Inc. boosted its position in Apple by 11.8% in the 4th quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after buying an additional 1,643 shares during the period. GLOBALT Investments LLC GA bought a new position in Apple in the fourth quarter worth approximately $38,406,000. Barden Capital Management Inc. grew its position in shares of Apple by 132.8% during the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after buying an additional 18,615 shares in the last quarter. Finally, Sunpointe LLC purchased a new stake in shares of Apple in the 4th quarter worth approximately $4,782,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling

In other news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. The disclosure for this sale can be found here. In the last ninety days, insiders sold 188,884 shares of company stock worth $38,092,387. 0.06% of the stock is currently owned by insiders.

Apple Trading Up 1.0 %

Apple stock opened at $226.84 on Monday. The firm has a market cap of $3.48 trillion, a price-to-earnings ratio of 35.28, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23. The firm’s 50 day moving average price is $220.32 and its two-hundred day moving average price is $194.47. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. The business had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 145.35%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $1.26 earnings per share. On average, research analysts predict that Apple Inc. will post 6.61 EPS for the current fiscal year.

Apple announced that its Board of Directors has approved a share buyback program on Thursday, May 2nd that allows the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Analysts Set New Price Targets

Several brokerages recently weighed in on AAPL. Rosenblatt Securities boosted their target price on Apple from $260.00 to $261.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Apple in a research report on Monday, August 5th. Citigroup raised their target price on shares of Apple from $210.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. TD Cowen increased their price target on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Raymond James increased their target price on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $233.63.

Apple 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.