Wed Sep 25 09:20:30 UTC 2024: ## WESPAC Advisors SoCal LLC Cuts Apple Holdings, While Other Institutional Investors Buy In

**San Francisco, CA** – WESPAC Advisors SoCal LLC, a prominent investment firm, reduced its stake in Apple Inc. (NASDAQ:AAPL) by 20.4% during the second quarter, according to its most recent SEC filing. The firm now holds 76,529 shares of the tech giant, valued at $16,119,000. Despite the reduction, Apple remains the firm’s sixth-largest holding, representing 4.0% of its portfolio.

The move comes as several other institutional investors and hedge funds adjusted their positions in Apple. Gould Asset Management LLC CA increased its holding by 11.7%, while Semanteon Capital Management LP, Evolution Advisers Inc., Motley Fool Asset Management LLC, and AM Investment Strategies LLC all purchased new stakes or boosted their existing positions.

Overall, hedge funds and institutional investors own a significant 60.41% of Apple’s stock.

Several analysts have recently commented on AAPL shares. While Wedbush reiterated an “outperform” rating with a $285.00 price objective, Piper Sandler maintained a “neutral” rating with a $225.00 price target. Bank of America restated a “buy” rating with a $256.00 target, while StockNews.com upgraded the stock from “hold” to “buy”. DA Davidson upgraded the stock from “neutral” to “buy” and raised their price target to $230.00.

MarketBeat.com currently assigns Apple a “Moderate Buy” consensus rating with an average target price of $239.17.

**Insider Trading**

In recent months, Apple insiders have been active in the market. SVP Katherine L. Adams sold 100,000 shares on August 5th for a total of $20,644,000.00, while insider Chris Kondo sold 8,706 shares on August 15th for $1,958,850.00.

Over the last ninety days, insiders have sold a total of 113,884 shares valued at $23,723,887. 0.06% of the company’s stock is currently owned by insiders.

**Apple’s Q2 Earnings**

Apple reported earnings for the second quarter on August 1st, exceeding analysts’ expectations with $1.40 EPS, up from $1.26 in the previous year. Revenue for the quarter came in at $85.78 billion, beating forecasts. The company also announced a quarterly dividend of $0.25 per share, paid on August 15th.

**Outlook**

Despite the recent sell-off by WESPAC Advisors SoCal LLC, Apple continues to attract significant interest from institutional investors and analysts alike. The company’s strong financial performance and consistent dividend payments suggest a positive outlook for the future. However, investors will need to monitor the ongoing market volatility and potential macroeconomic headwinds that could impact Apple’s growth trajectory.

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