Pine Ridge Advisers Acquires New Stake in Apple Inc.

Pine Ridge Advisers LLC has acquired a new stake in Apple Inc. (NASDAQ:AAPL) during the second quarter, according to its recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 31,205 shares of the iPhone maker's stock, valued at approximately $9,029,000.

This purchase represents just 0.5% of Pine Ridge Advisers LLC's investment portfolio, making Apple its 21st biggest position. The company also disclosed that several other large investors made changes to their positions in Apple during the same period, including Avenir Tech Ltd, Longfellow Investment Management Co. LLC, Lifetime Wealth Management P.C., and ABS Investment Management LLC.

The institutional ownership of Apple's stock is at 67.73%, with insiders owning a mere 0.06% of the company's shares. Over the last three months, insiders have sold 11,031 shares of company stock worth $3,535,759.