The Apple logo is pictured at a retail store in the Marina neighborhood in San Francisco, California
The Apple logo is pictured at a retail store in the Marina neighborhood in San Francisco, California April 23, 2014. REUTERS/Robert Galbraith Reuters

Apple Inc stock remains a favourite stock among institutional investors. The company has been a core component in mutual funds, hedge funds and other big investors.

Apple Insider reports that the Cupertino-based company has institutional investors holding more than 2,000 individual funds with shares worth over $380 billion by the end of 2014. The amount of institutional investment on Apple shares is more than any other company in the United States.

According to regulatory filing information gathered by fund tracking site Whale Wisdom, Apple Inc had more institutional investments than Microsoft by more than $100 billion in the fourth quarter of 2014. The Vanguard Group remained Apple’s biggest shareholder with a $37 billion investment. Swedish bank Swedbank bought 9.5 million shares, making it Apple’s largest buyer of stock in the last quarter.

Meanwhile, Goldman Sachs has raised its price target for Apple shares to $145 from $130. Goldman Sach’s analyst Bill Shope said the firm has reiterated its “Buy” rating of Apple stock. Last Feb. 19, Apple shares hit an all-time high since the stock split at $129.03.

Shope said Apple’s strong iPhone sales in the quarter ending in Dec. 2014 will give the company momentum for the company’s performance in the current year. The analyst added that he is optimistic on iPhone sales, Apple Pay’s adoption and the upcoming release of the Apple Watch.

In a research note, Shopes said Goldman Sachs has increased its forecasts and price target based on strong iPhone sales and a “powerful near-term catalyst” which includes the Apple Watch. The firm maintains its bullish outlook for the iPhone maker.

However, Shope said he remains cautious on the Apple Watch since he believes the new wearable device has a total market that may be too small for Apple’s size as a company. Goldman Sachs has increased its previous Apple Watch estimates to 18.4 million units in the first year of the product’s availability. The firm’s previous forecast for Apple Watch sales was 15.5 million units. Macworld reports that Apple is reportedly preparing to ship about 5 to 6 million units of the smartwatch.

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