Saturna Capital Cuts Apple Stake Amid Shifting Investor Views
Saturna Capital Corp has reduced its Apple Inc. (NASDAQ:AAPL) stake by selling 5,961 shares in the first quarter, according to a recent SEC filing. The company now owns 1,780,138 shares of Apple stock, which accounts for 6.3% of Saturna Capital Corp's investment portfolio.
The sale reduced Saturna Capital Corp's holdings in Apple by 0.3%. The company's stake in Apple is worth $451,781,000 as of its most recent SEC filing. This represents a significant decrease in the company's commitment to Apple, which was previously its third-largest holding.
Other institutional investors have also made changes to their Apple holdings during the first quarter. Chase Investment Counsel Corp increased its position in shares of Apple by 85.5%, while Phillip James Consulting Co. boosted its stake in Apple by 2.2%. Fortis Capital Management LLC and CacheTech Inc. also grew their holdings in Apple, with increases of 17.2% and 31.8%, respectively.
These changes reflect the shifting views of institutional investors on Apple's prospects. While some analysts remain bullish on the company, others have downgraded Apple to a 'hold' or 'moderate sell' rating due to rising memory prices, supply constraints, and policy risks that could pressure margins.