Apple Inc. (NASDAQ:AAPL) is Central Pacific Bank Trust Division's 4th Largest Position

Central Pacific Bank Trust Division lowered its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 12.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,229 shares of the iPhone maker's stock after selling 13,518 shares during the quarter. Apple makes up about 2.7% of Central Pacific Bank Trust Division's investment portfolio, making the stock its 4th largest holding. Central Pacific Bank Trust Division's holdings in Apple were worth $21,256,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Fidelis Capital Partners LLC lifted its position in Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker's stock valued at $35,000 after buying an additional 31,278 shares during the period. Hershey Financial Advisers LLC purchased a new position in Apple during the second quarter worth approximately $42,000. Access Investment Management LLC purchased a new stake in Apple during the 1st quarter worth about $140,000. Hoese & Co LLP lifted its position in Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker's stock worth $175,000 after acquiring an additional 57 shares during the period. Finally, Sage Financial Group Inc. purchased a new position in Apple during the second quarter worth $206,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AAPL shares. Evercore ISI reaffirmed a "buy" rating and set a $250.00 target price on shares of Apple in a report on Thursday, September 26th. New Street Research reissued a "neutral" rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. Tigress Financial lifted their price target on shares of Apple from $245.00 to $295.00 and gave the company a "strong-buy" rating in a research note on Wednesday, August 28th. Barclays decreased their target price on shares of Apple from $186.00 to $184.00 and set an "underweight" rating on the stock in a research report on Friday, November 1st. Finally, Rosenblatt Securities lifted their target price on shares of Apple from $261.00 to $262.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $235.25.

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the transaction, the senior vice president now directly owns 187,043 shares of the company's stock, valued at approximately $42,309,126.60. This trade represents a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the business's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company's stock, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 408,170 shares of company stock worth $92,007,745. Corporate insiders own 0.06% of the company's stock.

Apple Stock Performance

Shares of NASDAQ:AAPL traded down $1.27 on Wednesday, hitting $227.01. The company had a trading volume of 14,730,447 shares, compared to its average volume of 58,315,543. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The stock has a market cap of $3.43 trillion, a price-to-earnings ratio of 37.33, a P/E/G ratio of 2.20 and a beta of 1.24. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The stock has a 50 day moving average price of $227.34 and a 200 day moving average price of $217.31.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period in the previous year, the business earned $1.46 earnings per share. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. Analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, November 8th. Apple's dividend payout ratio (DPR) is 16.45%.

About Apple

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.