Mediolanum International Funds Boosts Apple Stake by 10% in Q1

Mediolanum International Funds Ltd, an institutional investor, increased its stake in Apple Inc. (AAPL) by 10% during the first quarter. This is according to the company's most recent 13F filing with the Securities and Exchange Commission.

In total, Mediolanum International Funds Ltd now owns 2,399,089 shares of AAPL stock, valued at $591,687,000. Apple makes up 6.3% of the fund's portfolio, making it its second-largest position.

This is not an isolated incident; several other hedge funds and institutional investors have also increased their stakes in AAPL during the same period. Rainier Family Wealth Inc., for example, grew its holdings by 14.1%, while Torren Management LLC acquired a new stake worth $1,178,000.

On the other hand, some analysts are cautioning against over-optimism about AAPL's prospects. KeyCorp, for instance, reiterated an 'underweight' rating and set a target price of $250 per share, while Morgan Stanley lowered its target price from $364 to $360.