Keybanc Lowers Apple’s Stock Outlook: What Investors Should Know
Keybanc Changes Outlook for Apple
On October 25, 2024, Keybanc announced a downgrade of its outlook for Apple (WSE:AAPL) from Sector Weight to Underweight.
Fund Sentiment Towards Apple
A total of 7,110 funds or institutions are currently invested in Apple, marking an increase of 217 owners, or 3.15%, over the last quarter. The average portfolio weight dedicated to AAPL across all funds rose to 3.62%, an increase of 12.91%. In the past three months, institutional ownership has seen a 6.45% rise, reaching 10,272,177K shares.
Actions of Major Shareholders
The Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) holds 460,208K shares, which is 3.03% of Apple. In its last report, it listed 461,127K shares, a decrease of 0.20%. However, VTSMX has increased its allocation to AAPL by 19.20% in the previous quarter.
Berkshire Hathaway now owns 400,000K shares, representing a 2.63% stake. In its previous filing, Berkshire reported 789,368K shares, showing a significant decrease of 97.34%. Its allocation to AAPL dropped by 26.26% in the last quarter.
The Vanguard 500 Index Fund Investor Shares (VFINX) owns 369,946K shares, making up 2.43% of the company. The latest filing showed an increase from 365,796K shares, an improvement of 1.12%. The fund has raised its allocation to AAPL by 17.59% over the past three months.
Geode Capital Management holds a 2.06% stake with 313,374K shares compared to 307,721K shares previously, reflecting an increase of 1.80%. Their portfolio weighting in AAPL has risen by 18.67% lately.
Price T Rowe Associates has increased its holdings from 206,972K to 228,489K shares, or 1.50% ownership, representing an increase of 9.42%. Its allocation in AAPL has jumped by 32.38% in the last quarter.
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This article originally appeared on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
