Cardiff Park Advisors Cuts Stake in Apple Amid Analyst Downgrade
Cardiff Park Advisors LLC has reduced its holdings in Apple Inc.'s (NASDAQ:AAPL) shares by 4.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,549 shares of the iPhone maker's stock after selling 4,877 shares during the period.
Apple comprises approximately 2.2% of Cardiff Park Advisors LLC's investment portfolio, making it their ninth largest holding. Their total holdings in Apple were worth $27,549,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the stock during this period. Lifetime Wealth Management P.C. purchased a new position in Apple in the fourth quarter valued at about $41,000. ROSS JOHNSON & Associates LLC increased its stake in shares of Apple by 1,800% during the first quarter.
Despite these moves, some analysts believe that Apple's shares remain undervalued and that future iPhone price increases, artificial-intelligence features, and a potential upgrade cycle could support longer-term growth. Gene Munster, a Deepwater Asset Management investor, has argued this point in recent days.