Davidson Sells Off Apple Shares, Institutional Investors Adjust Holdings

Financial news from Davidson Investment Advisors and Apple Inc. indicates that the investment firm has decreased its stake in Apple shares by 3.4% during the second quarter, according to a recent SEC filing. The company's Form 13F shows that Davidson sold 12,078 shares of Apple stock, resulting in a total portfolio value of $98,857,000. Apple accounts for approximately 4.0% of Davidson Investment Advisors' holdings and is now its fourth-largest holding.

Davidson is not the only firm adjusting its Apple holdings; other institutional investors have also made changes to their stakes in the company during the second quarter. For instance, Cookson Peirce & Co. Inc. increased its stake by 442.1%, while Private Management Group Inc. boosted its holdings by 1.3%. Thornburg Investment Management Inc. saw a 6,171.1% increase in its Apple stock, and Spinnaker Trust's position grew by 2.3%

Apple has been experiencing various developments in recent times, including the iPhone maker's quarterly earnings results on July 30th, which exceeded analysts' expectations. The company reported a revenue of $109.42 billion during the quarter, up 16.4% compared to the same period last year.