Retirement Stock Portfolio: 5 Safe Tech Stocks To Consider

2. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 138

Apple Inc. (NASDAQ:AAPL), a multinational technology company, recently came under hot water as it announced to cut its production targets for its most anticipated iPhone 13, due to the global chip shortage. However, Wall Street presented a positive outlook for the company. Recently, Citigroup lifted its price target on Apple Inc. (NASDAQ:AAPL) to $170, while keeping a Buy rating on the shares. The firm’s analyst appreciated the company’s solid cash flow generation, despite experiencing supply chain troubles.

Apple Inc. (NASDAQ:AAPL) gained 388.6% in the past five years, showing stable returns for shareholders. The company pays an annual dividend of $0.88 per share, yielding 0.61%.

Of the 873 elite funds tracked by Insider Monkey, 138 hedge funds are reported having stakes in Apple Inc. (NASDAQ:AAPL) in Q2 2021, valued at $145.5 billion. This shows that the hedge fund sentiment remained positive for the stock, as 127 hedge funds had positions in the company in the previous quarter.

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.”