Financiere des Professionnels Boosts Stake in Apple Shares

Financiere des Professionnels Fonds d'investissement inc. increased its stake in Apple Inc.'s shares by 79.7% during the first quarter, according to a recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor now owns 415,028 shares of the iPhone maker's stock, which is valued at $105,330,000. This makes Apple account for about 6.2% of Financiere des Professionnels Fonds d'investissement inc.'s holdings, making it its second-largest position.

The company has a significant presence in the institutional investor's portfolio, with other notable holdings including Jag Capital Management LLC and Avalon Trust Co. Jag Capital Management LLC increased its holdings in Apple by 4.4% during the first quarter, while Avalon Trust Co boosted its stake by 1.2%. Additionally, Gerald Baker Financial Group LLC purchased a new position in Apple worth $6,557,000.

According to MarketBeat.com, Apple currently has an average rating of 'Moderate Buy' with an average price target of $331.60. The stock opened at $308.91 on Friday and has a market capitalization of $4.54 trillion.