Apple Holdings Downgraded as Institutional Investors Weigh In
Next Capital Management LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 6.1% during Q1, according to a recent SEC filing.
The firm owned 26,623 shares after selling 1,723 shares during the quarter. The iPhone maker accounts for approximately 2.0% of Next Capital Management LLC's investment portfolio.
Other institutional investors have also been buying and selling AAPL shares in Q1 and Q4. Reyes Financial Architecture Inc. increased its position by 0.4%, while WESPAC Advisors LLC lifted its stake by 0.3%. Interactive Financial Advisors Inc. boosted its holdings by 4.0%.
Analysts have been weighing in on AAPL shares, with China Renaissance downgrading the stock from 'buy' to 'hold', and setting a price target of $280.00. However, Wedbush reaffirmed an 'outperform' rating with a target price of $400.00.