Sumitomo Life Insurance Co. Buys $101.6M Stake in Apple Inc.
Sumitomo Life Insurance Co., a prominent institutional investor, has made a significant move in its portfolio by purchasing a new stake in Apple Inc. (NASDAQ:AAPL) in the second quarter.
The company acquired 350,965 shares of Apple's stock, valued at approximately $101,555,000, according to its most recent filing with the Securities & Exchange Commission.
This purchase represents about 1.7% of Sumitomo Life Insurance Co.'s holdings and makes Apple its 6th biggest holding.
In addition to Sumitomo Life Insurance Co., several other large investors have also made changes to their positions in AAPL during the second quarter, including Sterling Wealth Management Inc., Evansbrook LLC, JMG Financial Group Ltd., Advocate Investing Services LLC, and Interactive Financial Advisors Inc.