Louisiana State Employees Retirement System Lowers stake in Apple (AAPL)

Apple (AAPL) : Louisiana State Employees Retirement System reduced its stake in Apple by 5.02% during the most recent quarter end. The investment management company now holds a total of 370,900 shares of Apple which is valued at $34,768,166 after selling 19,600 shares in Apple , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.Apple makes up approximately 1.80% of Louisiana State Employees Retirement System’s portfolio.

Apple closed down -0.1 points or -0.11% at $93.64 with 4,81,60,104 shares getting traded on Monday. Post opening the session at $93.965, the shares hit an intraday low of $92.4 and an intraday high of $94.08 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Other Hedge Funds, Including , Burt Wealth Advisors reduced its stake in AAPL by selling 71 shares or 0.86% in the most recent quarter. The Hedge Fund company now holds 8,232 shares of AAPL which is valued at $771,668. Apple makes up approx 0.70% of Burt Wealth Advisors’s portfolio.Chemung Canal Trust Co boosted its stake in AAPL in the latest quarter, The investment management firm added 3,491 additional shares and now holds a total of 75,350 shares of Apple which is valued at $7,962,988. Apple makes up approx 1.81% of Chemung Canal Trust Co’s portfolio.Foster Motley Inc boosted its stake in AAPL in the latest quarter, The investment management firm added 1,400 additional shares and now holds a total of 94,343 shares of Apple which is valued at $9,970,168. Apple makes up approx 1.99% of Foster Motley Inc’s portfolio.Gibraltar Capital Management boosted its stake in AAPL in the latest quarter, The investment management firm added 22,070 additional shares and now holds a total of 70,309 shares of Apple which is valued at $7,430,255. Apple makes up approx 9.70% of Gibraltar Capital Management’s portfolio.Montrusco Bolton Investments boosted its stake in AAPL in the latest quarter, The investment management firm added 560 additional shares and now holds a total of 32,789 shares of Apple which is valued at $3,465,142. Apple makes up approx 0.27% of Montrusco Bolton Investments’s portfolio.

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. Shares were Reiterated by Cowen on Apr 27, 2016 to “Outperform” and Lowered the Price Target to $ 125 from a previous price target of $135 .Shares were Reiterated by RBC Capital Mkts on Apr 27, 2016 to “Outperform” and Lowered the Price Target to $ 120 from a previous price target of $130 .Shares were Reiterated by Goldman on Apr 27, 2016 to “Buy” and Lowered the Price Target to $ 136 from a previous price target of $155 .

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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