Bessemer Group Inc Lowers stake in Apple (AAPL)

Apple (AAPL) : Bessemer Group Inc reduced its stake in Apple by 12.61% during the most recent quarter end. The investment management company now holds a total of 5,309,913 shares of Apple which is valued at $480.7 Million after selling 766,489 shares in Apple , the firm said in a disclosure report filed with the SEC on May 11, 2016.Apple makes up approximately 2.76% of Bessemer Group Inc’s portfolio.

Other Hedge Funds, Including , First Interstate Bank boosted its stake in AAPL in the latest quarter, The investment management firm added 1,281 additional shares and now holds a total of 153,468 shares of Apple which is valued at $13.9 Million. Apple makes up approx 2.96% of First Interstate Bank’s portfolio. Clal Insurance Enterprises Holdings Ltd added AAPL to its portfolio by purchasing 4,600 company shares during the most recent quarter which is valued at $416,392. Apple makes up approx 0.01% of Clal Insurance Enterprises Holdings Ltd’s portfolio.Engineers Gate Manager Lp reduced its stake in AAPL by selling 29,329 shares or 67.91% in the most recent quarter. The Hedge Fund company now holds 13,859 shares of AAPL which is valued at $1.3 Million. Apple makes up approx 0.10% of Engineers Gate Manager Lp’s portfolio.Amica Pension Fund Board Of Trustees boosted its stake in AAPL in the latest quarter, The investment management firm added 21,000 additional shares and now holds a total of 224,719 shares of Apple which is valued at $20.8 Million. Apple makes up approx 2.71% of Amica Pension Fund Board Of Trustees’s portfolio.Deschutes Portfolio Strategy boosted its stake in AAPL in the latest quarter, The investment management firm added 380 additional shares and now holds a total of 33,963 shares of Apple which is valued at $3.1 Million. Apple makes up approx 1.65% of Deschutes Portfolio Strategy’s portfolio.

Apple opened for trading at $92.39 and hit $94.39 on the upside on Monday, eventually ending the session at $93.88, with a gain of 3.71% or 3.36 points. The heightened volatility saw the trading volume jump to 6,12,59,756 shares. Company has a market cap of $514,221 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. Shares were Reiterated by UBS on May 11, 2016 to “Buy” and Lowered the Price Target to $ 115 from a previous price target of $120 .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 .

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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