Premier Path Wealth Partners Boosts Apple Stake by 2.4%
Premier Path Wealth Partners LLC has increased its stake in Apple Inc. (NASDAQ:AAPL) by 2.4% during the second quarter, according to its latest SEC filing. The institutional investor now holds 156,948 shares of Apple stock, valued at $45,414,000, making it the largest holding in its portfolio at approximately 5.2%. The acquisition included an additional 3,736 shares.
Other major investors have also made significant moves in Apple stock. Berkshire Hathaway Inc. purchased a new stake worth about $65,950,297,000, while Bank of America Corp DE and Legal & General Group Plc acquired new positions valued at $36,986,090,000 and $30,443,242,000, respectively. Nuveen LLC boosted its holdings by 3.8% in the fourth quarter, now owning 75,000,920 shares worth $20,389,750,000. Amundi increased its stake by 23.2% in the first quarter, holding 73,082,616 shares valued at $18,547,637,000.
Institutional investors and hedge funds collectively own 67.73% of Apple's stock. The company's shares opened at $332.89 on Tuesday, with a market capitalization of $4.86 trillion. Apple reported strong quarterly earnings on July 30th, with earnings per share of $2.02, beating estimates by $0.13, and revenue of $109.42 billion, up 16.4% year-over-year.
Analysts have mixed views on Apple's stock. Bank of America reissued a "buy" rating with a $370.00 target price, while CICC Research lifted its price target to $340.00. Loop Capital set a $380.00 objective, and Royal Bank Of Canada targeted $365.00. The average rating is "Moderate Buy" with a consensus price target of $340.02.