Summit X LLC, a prominent institutional investor, has reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 11.3% during the third quarter, according to its recent filing with the Securities & Exchange Commission. The firm now owns 122,671 shares of the tech giant’s stock, down from 138,354 shares previously held.
Apple Inc. makes up about 6.7% of Summit X LLC’s portfolio, ranking as the firm’s second-largest holding. The value of Summit X LLC’s holdings in Apple was reported at $21,010,000 at the end of the third quarter.
Several other institutional investors have also made significant adjustments to their holdings in Apple. Atlantic Private Wealth LLC acquired a new stake in Apple during the first quarter, while Summit Wealth Group LLC and HBC Financial Services PLLC boosted their holdings by an impressive percentage in the same period.
West Tower Group LLC and PayPay Securities Corp also joined the list of institutional investors acquiring stakes in Apple, showcasing the continued interest in the tech giant’s stock.
In other news, insider Chris Kondo recently sold 5,513 shares of Apple stock in a transaction valued at $1,058,496. Following this transaction, Kondo now directly owns 29,174 shares of Apple stock, worth $5,601,408.
On the market front, Apple (NASDAQ:AAPL) opened at $181.16 on Tuesday, with a market capitalization of $2.80 trillion. The stock has a 52-week low of $143.90 and a high of $199.62.
Additionally, Apple Inc. has a P/E ratio of 28.22, a P/E/G ratio of 2.20, and a beta of 1.31. The company’s 50-day moving average price stands at $187.99, while the 200-day moving average price is $183.73. The quick ratio and current ratio are reported at 1.02 and 1.07, respectively, with a debt-to-equity ratio of 1.28.
Overall, the recent changes in institutional holdings and insider trading activities provide valuable insights into the dynamics surrounding Apple Inc.’s stock, further shaping the narrative for investors and market analysts.
