5 Safe Stocks To Buy According To Hedge Funds

4. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 138

Apple Inc. (NASDAQ:AAPL) stands fourth on our list of safe stocks to buy according to hedge funds. The stock has returned over 900% in the past ten years for shareholders and it also benefits from the extremely loyal global customer base. The revenue of Apple Inc. (NASDAQ:AAPL) grew by 89% in the first quarter of 2020, which shows the company’s durability during times of financial volatility.

Apple Inc. (NASDAQ:AAPL) has a track record of 10 years of consistent dividend growth. The company pays an annual dividend of $0.88 per share, yielding 0.61%, with a dividend payout ratio of 26.83%. Warren Buffett’s Berkshire Hathaway is the leading shareholder of Apple Inc. (NASDAQ:AAPL), with shares worth $121.5 billion. In addition to this, 138 hedge funds tracked by Insider Monkey were reported having stakes in the stock in Q2 2021, up from 127 in the previous quarter. These stakes are valued at $145.5 billion.

In October, Morgan Stanley lifted its price target on Apple Inc. (NASDAQ:AAPL) to $168, with an Overweight rating on the shares.

ClearBridge Investments mentioned Apple Inc. (NASDAQ:AAPL) in its first-quarter 2021 investor letter. Here is what the firm has to say:

“As we actively manage holdings and position sizes, we look to regularly recycle capital into more compelling opportunities. Maintaining our valuation discipline, we sharply reduced our position in Apple, whose shares more than doubled following our initial purchase in mid-2019 with an earnings multiple rising from the low-to-mid teens to nearly 30x.”