Pure Financial Advisors Lowers stake in Apple (AAPL)

Apple (AAPL) : Pure Financial Advisors reduced its stake in Apple by 8.02% during the most recent quarter end. The investment management company now holds a total of 10,259 shares of Apple which is valued at $1,170,142 after selling 895 shares in Apple , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Apple makes up approximately 0.38% of Pure Financial Advisors’s portfolio.

Other Hedge Funds, Including , Independent Portfolio Consultants reduced its stake in AAPL by selling 2,454 shares or 4.92% in the most recent quarter. The Hedge Fund company now holds 47,382 shares of AAPL which is valued at $5,356,535. Apple makes up approx 1.69% of Independent Portfolio Consultants’s portfolio.Summit Financial Wealth Advisors reduced its stake in AAPL by selling 4,291 shares or 21.64% in the most recent quarter. The Hedge Fund company now holds 15,541 shares of AAPL which is valued at $1,756,910. Apple makes up approx 0.77% of Summit Financial Wealth Advisors’s portfolio.Chevy Chase Trust Holdings reduced its stake in AAPL by selling 168,744 shares or 3.17% in the most recent quarter. The Hedge Fund company now holds 5,147,555 shares of AAPL which is valued at $581,931,093. Apple makes up approx 3.20% of Chevy Chase Trust Holdings’s portfolio.Mcqueen Ball Associates reduced its stake in AAPL by selling 1,171 shares or 3.0% in the most recent quarter. The Hedge Fund company now holds 37,819 shares of AAPL which is valued at $4,275,438. Apple makes up approx 2.93% of Mcqueen Ball Associates’s portfolio.

Apple opened for trading at $114.31 and hit $114.56 on the upside on Friday, eventually ending the session at $114.06, with a gain of 0.15% or 0.17 points. The heightened volatility saw the trading volume jump to 2,43,58,443 shares. Company has a market cap of $614,606 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 Citigroup on Sep 30, 2016 to “Buy”, Firm has raised the Price Target to $ 130 from a previous price target of $120 .Company shares were Reiterated by Nomura on Sep 22, 2016 to “Buy”, Firm has raised the Price Target to $ 135 from a previous price target of $120 .Company shares were Reiterated by RBC Capital Mkts on Sep 22, 2016 to “Outperform”, Firm has raised the Price Target to $ 125 from a previous price target of $120 .

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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