NewEdge Trims Apple Stake Amid Broader Institutional Shift
NewEdge Advisors LLC sold 66,699 shares of Apple Inc. (NASDAQ:AAPL) during the first quarter, reducing its stake in the company by 1.9%, according to a recent filing with the Securities and Exchange Commission.
The fund now owns 3,365,597 shares of Apple's stock, which represents about 3.1% of NewEdge Advisors LLC's portfolio. The value of these holdings is approximately $854 million as of its most recent filing.
This move comes amidst other institutional investors adjusting their stakes in Apple. Blue Edge Capital LLC increased its stake by 19.2%, while First Nebraska Trust Co acquired a new position worth $71 million. Foguth Wealth Management LLC also boosted its holdings by 13.2% and Dala Group LLC bought a new stake valued at $2.7 million.
Apple's stock has been trending upward, with a market capitalization of over $4.5 trillion and a forward earnings outlook that leaves the stock sensitive to execution.