Tudor Financial Reduces Apple Stake by 21.6 Percent
Tudor Financial Inc. significantly reduced its stake in Apple Inc. (NASDAQ: AAPL) by 21.6% during the second quarter, according to its latest filing with the Securities and Exchange Commission. The firm sold 2,899 shares, leaving it with 10,552 shares of the iPhone maker’s stock. Apple now represents approximately 1.4% of Tudor Financial Inc.’s investment portfolio, making it the 16th largest position in the firm’s holdings. The value of Tudor Financial Inc.’s remaining Apple shares was $3,053,000 as of the most recent filing.
Several other institutional investors made notable changes to their Apple positions during the same period. Berkshire Hathaway Inc. established a new position in Apple worth about $65,950,297,000, while Bank of America Corp DE acquired a new stake valued at approximately $36,986,090,000. Legal & General Group Plc also bought a new stake in Apple during the second quarter, valued at around $30,443,242,000. Nuveen LLC increased its stake by 3.8% during the fourth quarter, and Amundi boosted its holdings by 23.2% in the first quarter.
In related news, Apple’s senior vice presidents Jennifer Newstead and Deirdre O’Brien sold portions of their shares. Newstead sold 2,399 shares on September 29th at an average price of $336.18, totaling $806,495.82. O’Brien sold 46,389 shares on October 2nd at an average price of $333.42, for a total value of $15,467,020.38. Both sales were made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 276,984 shares of company stock valued at $92,116,025.
Wall Street analysts maintain a generally positive outlook on Apple, with one rating the stock as a Strong Buy, twenty-six issuing a Buy rating, thirteen giving a Hold rating, and two assigning a Sell rating. The company has an average rating of “Moderate Buy” and a consensus target price of $340.02. Apple’s stock opened at $332.89 on Tuesday, with a market cap of $4.86 trillion and a 52-week range of $243.42 to $345.34.