First Trust Advisors LP Boosts Stake in Apple Inc.'s Stock by 20.9% Amid Strong Earnings

First Trust Advisors LP has significantly increased its stake in Apple Inc.'s (NASDAQ:AAPL) stock, according to a recent filing with the Securities & Exchange Commission. The institutional investor raised its holdings by 20.9% during the first quarter, buying an additional 900,803 shares of Apple's stock. This brought First Trust Advisors LP's total ownership in Apple to 5,213,875 shares, which is worth approximately $1,323,229,000.

Apple makes up 0.9% of First Trust Advisors LP's investment portfolio, making it the company's 6th largest position. This increase in stake comes as Apple continues to report strong earnings and revenue growth, with its latest quarter exceeding analysts' expectations by a margin of $0.13 per share.

Other institutional investors have also been buying into Apple's stock, including First National Bank of Hutchinson, which boosted its holdings by 24.6% in the fourth quarter, and Eagle Capital Management LLC, which raised its stake in shares of Apple by 0.5% during the same period.