Conway Capital Reduces Apple Stake Amid Mixed Institutional Activity

Conway Capital Management Inc. reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 1.2% during the second quarter, selling 1,815 shares. The firm now owns 145,418 shares, which represent about 18.7% of its total holdings, making Apple its largest position. As of its latest SEC filing, Conway Capital's stake in Apple was valued at $42,078,000.

Several other institutional investors also adjusted their positions in Apple during the quarter. Prospect Hill Management LLC acquired a new stake worth $146,370,000, while Focus Partners Advisor Solutions LLC bought a new position valued at $168,646,000. Baron Silver Stevens Financial Advisors LLC increased its holdings by 65.6%, now owning 66,717 shares worth $19,305,000. Additionally, Rainier Family Wealth Inc. grew its position by 14.1% in the first quarter, and Eaton Cambridge Inc. boosted its stake by 21.3%. Institutional investors collectively own 67.73% of Apple's stock.

Insider activity included SVP Jennifer Newstead selling 2,399 shares on September 29th at an average price of $336.18, totaling $806,495.82. SVP Deirdre O’Brien sold 46,389 shares on October 2nd at $333.42, amounting to $15,467,020.38. Both transactions were disclosed in SEC filings. Overall, insiders sold 276,984 shares worth $92,116,025 over the past three months, with corporate insiders owning 0.06% of the stock.

Analysts have provided mixed ratings for Apple. Seaport Research Partners downgraded the stock to “neutral,” while The Goldman Sachs Group initiated coverage with a “buy” rating. Loop Capital set a price target of $380.00, and Citigroup reaffirmed its “buy” rating. Currently, the stock has an average rating of “Moderate Buy” with a consensus price target of $340.02. Apple’s stock opened at $332.89 on Tuesday, with a market capitalization of $4.86 trillion and a price-to-earnings ratio of 38.18.