Athena Investment Management Cuts Apple Stake by 37.1%

Athena Investment Management significantly reduced its stake in Apple Inc. (NASDAQ: AAPL) during the second quarter, cutting its position by 37.1%. According to a recent Form 13F filing with the Securities and Exchange Commission, the firm sold 6,320 shares, leaving it with 10,693 shares worth approximately $3.1 million. Apple now represents about 1.8% of Athena’s portfolio, making it the ninth-largest holding.

Other institutional investors made various adjustments to their Apple holdings during the same period. Strengthening Families & Communities LLC increased its position by 1.3%, while Greenspring Advisors LLC boosted its stake by 7.5%. Mayport LLC and Rodgers & Associates LTD also raised their holdings slightly. Notably, Nykredit A/S established a new position valued at approximately $1.83 billion. Collectively, institutional investors own 67.73% of Apple’s stock.

Analysts remain bullish on Apple’s prospects, with several firms revising their price targets upward. Maxim Group raised its target to $380, while UBS Group and Sanford C. Bernstein reiterated their “buy” and “outperform” ratings, respectively. The stock currently has a consensus “Moderate Buy” rating with a target price of $340.02. However, Phillip Securities maintained a “neutral” rating despite increasing its target to $300.

In other news, Apple’s Senior Vice President Jennifer Newstead sold 2,399 shares for about $806,496, reducing her stake by 5.4%. The transaction was disclosed in an SEC filing. Over the past 90 days, insiders have sold a total of 13,430 shares worth $4.34 million.