Hedge funds are bullish on Apple these daysDecember 23, 2011: 10:37 AM ET
Of 350 funds tracked by Insider Monkey, 125 are long on Apple
Apple is a perennial favorite among hedge funds, and a recent survey of insiders and hedge fund managers suggest that it may be more popular than ever among the folks with the power to move the market up or down.
In a list of companies with recent insider trades posted on Seeking Alpha by Insider Monkey, a free (after registration) site that lists the holdings 350 hedge funds, Apple was No. 1 among the hedge funds with bullish positions. No. 2, Qualcomm (QCOM) wasn't even close.
Here, in full, is Insider Monkey's entry on Apple:
Apple Inc (AAPL) is the most popular stock among hedge funds tracked by Insider Monkey. There are 125 hedge funds reported to own AAPL at the end of September. For example, Ken Griffin's Citadel Investment Group had $928 million invested in AAPL shares as of September 30. The stock was also purchased by one insider over the past month. On November 29, Robert Iger bought 1370 shares at $374.4856 and another 1300 shares at $375.3292. Now the stock is trading at $396.19. AAPL has a market cap of $368B and a P/E ratio of 14.31. It returned 20.14% since the beginning of this year.