Hendershot Investments Lowers stake in Apple (AAPL)

Apple (AAPL) : Hendershot Investments reduced its stake in Apple by 1.64% during the most recent quarter end. The investment management company now holds a total of 94,398 shares of Apple which is valued at $9,718,274 after selling 1,576 shares in Apple , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Apple makes up approximately 4.81% of Hendershot Investments’s portfolio.

Other Hedge Funds, Including , Pggm Investments boosted its stake in AAPL in the latest quarter, The investment management firm added 339,968 additional shares and now holds a total of 2,242,140 shares of Apple which is valued at $230,828,313. Apple makes up approx 1.15% of Pggm Investments’s portfolio.Oakworth Capital reduced its stake in AAPL by selling 32,061 shares or 36.58% in the most recent quarter. The Hedge Fund company now holds 55,594 shares of AAPL which is valued at $5,484,904. Apple makes up approx 1.96% of Oakworth Capital’s portfolio.Crestpoint Capital Management reduced its stake in AAPL by selling 400 shares or 1.35% in the most recent quarter. The Hedge Fund company now holds 29,200 shares of AAPL which is valued at $2,915,036. Apple makes up approx 1.50% of Crestpoint Capital Management’s portfolio.Trust Department Mb Financial Bank N A reduced its stake in AAPL by selling 281 shares or 0.18% in the most recent quarter. The Hedge Fund company now holds 157,269 shares of AAPL which is valued at $15,700,164. Apple makes up approx 1.70% of Trust Department Mb Financial Bank N A’s portfolio.Saddle Road Partners boosted its stake in AAPL in the latest quarter, The investment management firm added 15,726 additional shares and now holds a total of 62,315 shares of Apple which is valued at $6,036,454. Apple makes up approx 3.52% of Saddle Road Partners’s portfolio.

Apple closed down -0.13 points or -0.12% at $104.21 with 2,77,33,688 shares getting traded on Friday. Post opening the session at $104.19, the shares hit an intraday low of $103.68 and an intraday high of $104.55 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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