Front Barnett Associates Lowers stake in Apple (AAPL)

Apple (AAPL) : Front Barnett Associates reduced its stake in Apple by 1.1% during the most recent quarter end. The investment management company now holds a total of 323,993 shares of Apple which is valued at $34,275,219 after selling 3,607 shares in Apple , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Apple makes up approximately 6.71% of Front Barnett Associates’s portfolio.

Other Hedge Funds, Including , Forward Management boosted its stake in AAPL in the latest quarter, The investment management firm added 221 additional shares and now holds a total of 10,561 shares of Apple which is valued at $1,117,248. Apple makes up approx 0.09% of Forward Management’s portfolio. New Amsterdam Partnersny sold out all of its stake in AAPL during the most recent quarter. The investment firm sold 6,852 shares of AAPL which is valued $724,873.Atalanta Sosnoff Capital reduced its stake in AAPL by selling 275,802 shares or 21.01% in the most recent quarter. The Hedge Fund company now holds 1,036,876 shares of AAPL which is valued at $106,746,384. Apple makes up approx 3.47% of Atalanta Sosnoff Capital’s portfolio.Pineno Levin Ford Asset Management reduced its stake in AAPL by selling 205 shares or 3.53% in the most recent quarter. The Hedge Fund company now holds 5,595 shares of AAPL which is valued at $552,003. Apple makes up approx 0.28% of Pineno Levin Ford Asset Management’s portfolio.Capital Advisors Ltd. boosted its stake in AAPL in the latest quarter, The investment management firm added 107 additional shares and now holds a total of 2,088 shares of Apple which is valued at $202,265. Apple makes up approx 0.09% of Capital Advisors Ltd.’s portfolio.

Apple opened for trading at $107.52 and hit $108.37 on the upside on Monday, eventually ending the session at $108.37, with a gain of 0.83% or 0.89 points. The heightened volatility saw the trading volume jump to 2,80,37,220 shares. Company has a market cap of $583,946 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. 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 was Upgraded by Raymond James to ” Outperform” on Jul 27, 2016.

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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