National Asset Management Lowers stake in Apple (AAPL)

Apple (AAPL) : National Asset Management reduced its stake in Apple by 10.01% during the most recent quarter end. The investment management company now holds a total of 156,861 shares of Apple which is valued at $16,969,223 after selling 17,443 shares in Apple , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Apple makes up approximately 3.33% of National Asset Management’s portfolio.

Other Hedge Funds, Including , Ray Gerald L Associates Ltd reduced its stake in AAPL by selling 1,396 shares or 0.81% in the most recent quarter. The Hedge Fund company now holds 171,173 shares of AAPL which is valued at $18,517,495. Apple makes up approx 2.83% of Ray Gerald L Associates Ltd’s portfolio.Endurance Wealth Management reduced its stake in AAPL by selling 4,635 shares or 5.16% in the most recent quarter. The Hedge Fund company now holds 85,160 shares of AAPL which is valued at $9,152,997. Apple makes up approx 1.65% of Endurance Wealth Management’s portfolio.Ironwood Financial reduced its stake in AAPL by selling 800 shares or 30.9% in the most recent quarter. The Hedge Fund company now holds 1,789 shares of AAPL which is valued at $186,432. Apple makes up approx 0.14% of Ironwood Financial’s portfolio.Saratoga Research Investment Management boosted its stake in AAPL in the latest quarter, The investment management firm added 88,962 additional shares and now holds a total of 654,960 shares of Apple which is valued at $68,253,382. Apple makes up approx 5.90% of Saratoga Research Investment Management’s portfolio.E&g Advisors Lp reduced its stake in AAPL by selling 1,351 shares or 3.39% in the most recent quarter. The Hedge Fund company now holds 38,466 shares of AAPL which is valued at $3,960,075. Apple makes up approx 2.32% of E&g Advisors Lp’s portfolio.

Apple opened for trading at $106.14 and hit $106.8 on the upside on Thursday, eventually ending the session at $106.73, with a gain of 0.59% or 0.63 points. The heightened volatility saw the trading volume jump to 2,67,01,523 shares. Company has a market cap of $575,109 M.

On the company’s financial health, Apple reported $1.90 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus of $2.00. The company had revenue of $50557.00 million for the quarter, compared to analysts expectations of $51984.35 million. The company’s revenue was down -12.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.33 EPS.

Many Wall Street Analysts have commented on Apple. Company shares were Reiterated by RBC Capital Mkts on Aug 11, 2016 to “Outperform”, Firm has raised the Price Target to $ 117 from a previous price target of $115 .Apple was Upgraded by Hilliard Lyons to ” Buy” on Jul 28, 2016. Company shares were Reiterated by Macquarie on Jul 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 115 from a previous price target of $112 .

Apple Inc. (Apple) designs manufactures and markets mobile communication and media devices personal computers and portable digital music players and a variety of related software services peripherals networking solutions and third-party digital content and applications. The Company’s products and services include iPhone iPad Mac iPod Apple TV a portfolio of consumer and professional software applications the iOS and OS X operating systems iCloud and a variety of accessory service and support offerings. The Company also delivers digital content and applications through the iTunes Store App StoreSM iBookstoreSM and Mac App Store. The Company distributes its products worldwide through its retail stores online stores and direct sales force as well as through third-party cellular network carriers wholesalers retailers and value-added resellers. In February 2012 the Company acquired app-search engine Chomp.

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