Harvey Capital Management Inc Lowers stake in Apple (AAPL)

Apple (AAPL) : Harvey Capital Management Inc reduced its stake in Apple by 6.92% during the most recent quarter end. The investment management company now holds a total of 148,544 shares of Apple which is valued at $14,655,351 after selling 11,050 shares in Apple , the firm said in a disclosure report filed with the SEC on Jul 21, 2016.Apple makes up approximately 7.00% of Harvey Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Quadrant Capital Management reduced its stake in AAPL by selling 352 shares or 1.01% in the most recent quarter. The Hedge Fund company now holds 34,412 shares of AAPL which is valued at $3,395,088. Apple makes up approx 2.78% of Quadrant Capital Management’s portfolio.Evanson Asset Management boosted its stake in AAPL in the latest quarter, The investment management firm added 244 additional shares and now holds a total of 131,015 shares of Apple which is valued at $13,096,259. Apple makes up approx 3.83% of Evanson Asset Management’s portfolio.Salient Trust Co Lta reduced its stake in AAPL by selling 10,800 shares or 11.85% in the most recent quarter. The Hedge Fund company now holds 80,322 shares of AAPL which is valued at $8,028,987. Apple makes up approx 0.85% of Salient Trust Co Lta’s portfolio.Cohen Lawrence B boosted its stake in AAPL in the latest quarter, The investment management firm added 10,336 additional shares and now holds a total of 51,764 shares of Apple which is valued at $5,004,544. Apple makes up approx 2.94% of Cohen Lawrence B’s portfolio.Kistler-tiffany Companies boosted its stake in AAPL in the latest quarter, The investment management firm added 2,003 additional shares and now holds a total of 29,297 shares of Apple which is valued at $2,832,434. Apple makes up approx 1.44% of Kistler-tiffany Companies’s portfolio.

Apple opened for trading at $102.83 and hit $104.45 on the upside on Thursday, eventually ending the session at $104.34, with a gain of 1.35% or 1.39 points. The heightened volatility saw the trading volume jump to 3,87,21,377 shares. Company has a market cap of $571,515 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 Maxim Group on Jul 25, 2016 to “Buy”, Firm has raised the Price Target to $ 168 from a previous price target of $157 .Shares were Reiterated by Barclays on Jul 15, 2016 to “Overweight” and Lowered the Price Target to $ 115 from a previous price target of $121 .Longbow Initiated Apple on Jul 6, 2016 to “Buy”, Price Target of the shares are set at $125.

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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