Hedge Fund Purchases 109,367 Shares of Apple Inc.
Kelly Lawrence W & Associates Inc. CA has acquired a new position in shares of Apple Inc. (NASDAQ:AAPL), purchasing 109,367 shares valued at approximately $31,646,000 in the second quarter.
Apple makes up about 6.8% of Kelly Lawrence W & Associates Inc. CA's holdings, making it the company's third largest holding. The institutional investor has a significant stake in Apple, with the stock being its biggest holding after the purchases made by Longfellow Investment Management Co. LLC and Lifetime Wealth Management P.C.
The recent purchase is part of a larger trend of hedge funds buying into Apple shares. According to the source, 67.73% of the stock is owned by hedge funds and other institutional investors.
Apple's stock price has been on an upward trajectory, with shares opening at $341.07 on Friday. The company has a market cap of $4.98 trillion and a P/E ratio of 39.11.