Briaud Financial Planning Boosts Apple Stake by 18.9% in Q2
Briaud Financial Planning Inc increased its stake in Apple Inc. (NASDAQ: AAPL) by 18.9% during the second quarter, according to its latest 13F filing with the SEC. The firm now holds 11,605 shares of Apple stock, worth approximately $3,358,000. This makes Apple the seventh-largest position in Briaud's portfolio, representing about 0.9% of its total holdings.
The move by Briaud comes amid a broader trend of institutional investors adjusting their positions in Apple. Nuveen LLC boosted its stake by 3.8% in the fourth quarter, now owning 75,000,920 shares worth $20,389,750,000. Amundi increased its holdings by 23.2% in the first quarter, acquiring an additional 13,780,080 shares. Other significant investors like Fisher Asset Management LLC, Dimensional Fund Advisors LP, and Swiss National Bank also raised their stakes in Apple during recent quarters.
In related news, Apple's SVP Jennifer Newstead sold 2,399 shares of the company's stock on September 29th, at an average price of $336.18, totaling $806,495.82. This transaction reduced her position by 5.4%, leaving her with 41,992 shares valued at $14,116,870.56. Insiders have sold a total of 13,430 shares worth $4,342,255 in the last quarter.
Analysts have mixed views on Apple's stock. Daiwa Securities Group raised its price target to $335.00 with an "outperform" rating, while Citigroup reaffirmed a "buy" rating. Conversely, China Renaissance downgraded Apple to "hold" with a price target of $280.00. Currently, Apple has an average rating of "Moderate Buy" and an average price target of $340.02.