Paragon Capital Management Ltd trimmed its stake in Apple by 24.8% during the third quarter, selling 4,761 shares and ending the period with 14,423 shares. At the end of the reporting period, the fund’s holdings in Apple were valued at approximately 3.67 million, representing 0.7% of its total portfolio and ranking Apple as its 20th largest position.

Several other large investors also rebalanced their Apple holdings in the same quarter. Triangle Securities Wealth Management increased its position by 22.9%, acquiring an additional 5,700 shares to reach 30,601 shares valued at roughly 7.79 million. Cape Ann Savings Bank added 1,766 shares, a 5.4% rise, lifting its total to 34,362 shares worth about 8.75 million. Value Partners Investments Inc. boosted its stake by 21.3% to 4,234 shares, Alliance Wealth Advisors LLC added 57 shares for a 0.3% increase to 17,100 shares, and Gilman Hill Asset Management LLC expanded its Apple position by 12.7% to 23,136 shares.

During the period, five brokerages updated their views on Apple. Seaport Research Partners upgraded the stock to strong-buy, Weiss Ratings reaffirmed a buy rating, Phillip Securities downgraded to moderate-sell with a 200 target, JPMorgan increased its target from 290 to 305 and maintained an overweight rating, and Sanford C. Bernstein set a 325 target. Out of 37 analysts covering the company, two rate it strong-buy, twenty-two rate it buy, twelve rate it hold and one rates it sell, resulting in a consensus Moderate Buy rating and an average price target of 283.92.

In its most recent quarter, Apple reported earnings per share of 1.85, beating consensus by 0.11, on revenue of 102.47 billion which exceeded estimates by 0.82 billion. Revenue grew 8.7% year-over-year, net margin stood at 26.92% and return on equity reached 164.05%. The company declared a quarterly dividend of 0.26 per share payable mid-November, translating to an annualized yield of 0.4% and a payout ratio of 13.92%.