Los Angeles Capital Management Equity Research Inc Lowers stake in Apple (AAPL)

Apple (AAPL) : Los Angeles Capital Management Equity Research Inc reduced its stake in Apple by 49.99% during the most recent quarter end. The investment management company now holds a total of 1,463,675 shares of Apple which is valued at $157,974,443 after selling 1,463,380 shares in Apple , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Apple makes up approximately 1.30% of Los Angeles Capital Management Equity Research Inc’s portfolio.

Other Hedge Funds, Including , Finemark National Bank Trust boosted its stake in AAPL in the latest quarter, The investment management firm added 4,132 additional shares and now holds a total of 241,849 shares of Apple which is valued at $26,102,763. Apple makes up approx 2.81% of Finemark National Bank Trust’s portfolio.First Trust Advisors Lp boosted its stake in AAPL in the latest quarter, The investment management firm added 172,410 additional shares and now holds a total of 942,018 shares of Apple which is valued at $101,248,095. Apple makes up approx 0.31% of First Trust Advisors Lp’s portfolio. Community Financial Services Group added AAPL to its portfolio by purchasing 27,033 company shares during the most recent quarter which is valued at $2,859,821. Apple makes up approx 1.36% of Community Financial Services Group’s portfolio.Delta Asset Managementtn boosted its stake in AAPL in the latest quarter, The investment management firm added 221 additional shares and now holds a total of 7,604 shares of Apple which is valued at $750,211. Apple makes up approx 0.13% of Delta Asset Managementtn’s portfolio.Sunnymeath Asset Management boosted its stake in AAPL in the latest quarter, The investment management firm added 2,377 additional shares and now holds a total of 19,002 shares of Apple which is valued at $1,899,440. Apple makes up approx 2.68% of Sunnymeath Asset Management’s portfolio.

Apple opened for trading at $108.14 and hit $109.54 on the upside on Monday, eventually ending the session at $109.48, with a gain of 1.20% or 1.3 points. The heightened volatility saw the trading volume jump to 2,58,68,209 shares. Company has a market cap of $589,927 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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