“Institutional ownership in Apple stock is picking up, but it remains below its S&P 500 weighting, indicating there’s room for upside, Morgan Stanley analyst Katy Huberty said in a research report Wednesday,” Patrick Seitz reports for Investor’s Business Daily.
“‘Top 100 institutional shareholders had an average of 2.5% of their portfolio allocated to Apple exiting Q3, up from 2.3% at the end of Q2,’ she said. ‘This allocation level remains well below the 3.8% weighting of Apple in the S&P 500 and concentration peak of 4.5% seen in Q3 2012,'” Seitz reports. “The quarter-to-quarter improvement in institutional ownership of Apple stock is a positive trend and makes Apple’s recent outperformance in the market more sustainable than it was two years ago, Huberty said.”
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