5 Best Growth Stocks To Buy According To Hedge Funds

4. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders in Q2: 138  

Number of Hedge Fund Holders in Q1: 127    

Apple Inc. (NASDAQ:AAPL) is a California-based technology firm with a large stake in the consumer electronics business. It is ranked fourth on our list of 11 best growth stocks to buy according to hedge funds.

On September 29, investment advisory UBS maintained a Buy rating on Apple Inc. (NASDAQ:AAPL) stock with a price target of $175. David Vogt, an analyst at the advisory, issued the ratings update. 

At the end of the second quarter of 2021, 138 hedge funds in the database of Insider Monkey held stakes worth $145 billion in Apple Inc. (NASDAQ:AAPL), up from 127 in the preceding quarter worth $131 billion.

In its Q1 2021 investor letter, Distillate Capital, an asset management firm, highlighted a few stocks and Apple Inc. (NASDAQ:AAPL) was one of them. Here is what the fund said:

“Apple is an even more notable situation and one that highlights our free cash valuation methodology and bears further discussion given its Q3 ‘20 sale from our strategy. For an extended period, Apple was extraordinarily inexpensive on a free cash flow basis and was the largest position in our strategy, exceeding 5% of the portfolio.”