Central Pacific Bank Trust Division Sells 2,790 Shares of Apple Inc. $AAPL

Central Pacific Bank Trust Division decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 74,048 shares of the iPhone maker’s stock after selling 2,790 shares during the period. Apple makes up approximately 2.3% of Central Pacific Bank Trust Division’s investment portfolio, making the stock its 5th largest position. Central Pacific Bank Trust Division’s holdings in Apple were worth $18,855,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC grew its holdings in Apple by 14.3% in the 3rd quarter. GAMMA Investing LLC now owns 317,506 shares of the iPhone maker’s stock valued at $80,847,000 after buying an additional 39,743 shares in the last quarter. Trust Co of the South increased its position in Apple by 4.8% during the third quarter. Trust Co of the South now owns 90,001 shares of the iPhone maker’s stock worth $22,917,000 after purchasing an additional 4,094 shares during the last quarter. Helen Stephens Group LLC raised its stake in Apple by 1.0% during the third quarter. Helen Stephens Group LLC now owns 11,905 shares of the iPhone maker’s stock worth $3,031,000 after purchasing an additional 122 shares during the period. McAlister Sweet & Associates Inc. boosted its holdings in Apple by 2.1% in the 3rd quarter. McAlister Sweet & Associates Inc. now owns 38,924 shares of the iPhone maker’s stock valued at $9,911,000 after purchasing an additional 797 shares during the last quarter. Finally, American National Bank of Texas purchased a new stake in shares of Apple in the 3rd quarter valued at approximately $1,888,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Down 1.0%

NASDAQ AAPL opened at $271.84 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.86 and a current ratio of 0.89. The firm has a market cap of $4.02 trillion, a price-to-earnings ratio of 36.39, a PEG ratio of 2.57 and a beta of 1.10. The firm has a 50 day simple moving average of $269.23 and a 200-day simple moving average of $238.57. Apple Inc. has a one year low of $169.21 and a one year high of $288.62.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.11. Apple had a net margin of 26.92% and a return on equity of 164.05%. The firm had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. During the same period in the prior year, the firm earned $1.64 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were issued a $0.26 dividend. The ex-dividend date was Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is 13.92%.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 3,752 shares of Apple stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $271.23, for a total value of $1,017,654.96. Following the completion of the transaction, the insider owned 15,098 shares in the company, valued at approximately $4,095,030.54. This trade represents a 19.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevan Parekh sold 4,199 shares of the company’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the sale, the chief financial officer owned 8,765 shares in the company, valued at $2,168,373.35. The trade was a 32.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 228,052 shares of company stock valued at $58,604,588 in the last 90 days. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wall Street Zen lowered shares of Apple from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Sanford C. Bernstein set a $325.00 target price on Apple in a research note on Monday, November 3rd. Loop Capital reaffirmed a “buy” rating and issued a $325.00 price target (up previously from $315.00) on shares of Apple in a research note on Tuesday, December 2nd. Cowen reiterated a “buy” rating on shares of Apple in a report on Monday, October 27th. Finally, DZ Bank upgraded shares of Apple from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a report on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $283.92.

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.