Rehmann Capital Advisory Group Trims Its Apple Inc. Holdings

Rehmann Capital Advisory Group has recently made adjustments to its investment portfolio, specifically by reducing its holdings in tech giant Apple Inc. (NASDAQ:AAPL). According to filings with the Securities and Exchange Commission (SEC), the advisory group sold 2,353 shares of Apple during the 2nd quarter, leaving it with 143,407 shares. This sale decreased its Apple investment by 1.6%, with the remaining holdings valued at approximately $27.8 million.

Investor Activity

In the realm of institutional investors, there has been a wide range of modifications in Apple stock holdings. Notable increases include the Center For Asset Management LLC, which boosted its stake by 53.3% in the 2nd quarter, and the Ilmarinen Mutual Pension Insurance Co, which grew its stake by 8.3% in the 1st quarter. Additionally, other investors such as Conrad Siegel Investment Advisors Inc. and Thrivent Financial for Lutherans have also increased their shares in Apple. These moves reflect a broader interest in Apple among financial institutions, with 58.51% of Apple’s stock being held by such entities.

Insider Trades

It is not just institutions that are active in trading Apple’s shares. Internal stakeholders have also been part of the activity. Deirdre O'Brien, Apple's Senior Vice President, sold a substantial number of shares totaling to $11.3 million. Moreover, insider Chris Kondo sold shares worth over $1 million. In the past quarter, insiders have sold a cumulative total of 573,352 shares with a market value of over $101 million, although they still hold a minor 0.06% of the firm's stock.

Apple's Analyst Expectations

Various analysts have set new price targets for Apple. Barclays and Goldman Sachs Group revised their price targets slightly lower, while Morgan Stanley raised theirs. Apple has received an assortment of hold, buy, and strong buy ratings from analysts, illustrating a generally positive outlook on the stock.

Stock Performance and Dividends

Looking at the stock's performance, Apple's shares have shown resilience, with market capitalization at $3.08 trillion and a P/E ratio of 32.37. The company also maintains robust ratios and has announced a quarterly dividend, translating into a yield of 0.48% for shareholders.

About Apple Inc.

Renowned worldwide, Apple Inc. designs and markets a spectrum of consumer electronics including iPhones, Mac computers, iPads, and wearables. Its expansive product portfolio has positioned Apple as a key player in the tech industry.

Furthermore, those interested in keeping abreast of Apple's performance and news can subscribe to daily summaries provided by analyst coverage sites, ensuring a regular update of pertinent information.

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