Carter Financial Group Reduces Apple Stake by 12.2%
Carter Financial Group INC. reduced its stake in Apple Inc. (NASDAQ:AAPL) by 12.2% in the second quarter, selling 3,107 shares. The fund now holds 22,405 shares, which represent 3.5% of its portfolio. The value of Carter Financial Group’s holdings in Apple was $6,483,000 as of its latest SEC filing.
Other institutional investors also adjusted their positions in Apple. Avenir Tech Ltd, Longfellow Investment Management Co. LLC, and Lifetime Wealth Management P.C. all purchased new stakes in the second quarter, ranging from $29,000 to $41,000. ABS Investment Management LLC made a significant investment worth $376,168,000, while Basso Capital Management L.P. acquired a position valued at $88,000 in the fourth quarter. Currently, 67.73% of Apple’s stock is owned by institutional investors and hedge funds.
In insider news, Senior Vice President Jennifer Newstead sold 2,399 shares on September 29th at an average price of $336.18, totaling $806,495.82. This transaction reduced her holdings by 5.4%, leaving her with 41,992 shares worth approximately $14,116,870.56. Over the past quarter, insiders have sold 13,430 shares valued at $4,342,255.
Apple’s stock opened at $333.69 on Monday, with a market cap of $4.87 trillion. The company reported strong earnings for the quarter, beating estimates with $2.02 earnings per share and $109.42 billion in revenue. Analysts have mixed views on Apple’s future, with price targets ranging from $270.00 to $380.00 and a consensus rating of “Moderate Buy.”