Independence Bank Reduces Stake in Apple

Independence Bank of Kentucky reduced its stake in Apple Inc. (NASDAQ:AAPL) by selling 2,091 shares during the second quarter.

The bank now owns 113,982 shares of Apple's stock, which makes up about 3.7% of its holdings and ranks as its second-largest holding, valued at $32,982,000 at the end of the most recent reporting period.

Independence Bank of Kentucky is not alone in its actions regarding Apple; other large investors have also recently bought and sold shares of AAPL, including Berkshire Hathaway Inc., which acquired a new stake in Apple during the 2nd quarter valued at $65,950,297,000, and Mitsubishi UFJ Asset Management Co. Ltd., which purchased a new position in Apple in the 2nd quarter valued at about $10,588,946,000.

Insiders have also been selling shares of Apple; SVP Jennifer Newstead sold 2,399 shares of the stock on Tuesday, September 29th, reducing her direct holdings by 5.4% and adding modest insider-selling pressure.