Capital Advantage buys $3 Million stake in Apple (AAPL)

Apple (AAPL) : Capital Advantage scooped up 617 additional shares in Apple during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 23, 2016. The investment management firm now holds a total of 29,620 shares of Apple which is valued at $3 Million.Apple makes up approximately 1.04% of Capital Advantage’s portfolio.

Other Hedge Funds, Including , Jacobus Wealth Management boosted its stake in AAPL in the latest quarter, The investment management firm added 319 additional shares and now holds a total of 21,198 shares of Apple which is valued at $2.1 Million. Apple makes up approx 0.60% of Jacobus Wealth Management’s portfolio. Srs Investment Management added AAPL to its portfolio by purchasing 1,473,740 company shares during the most recent quarter which is valued at $140.3 Million. Apple makes up approx 5.40% of Srs Investment Management’s portfolio.Driehaus Capital Management reduced its stake in AAPL by selling 404 shares or 10.98% in the most recent quarter. The Hedge Fund company now holds 3,277 shares of AAPL which is valued at $296,634. Apple makes up approx 0.01% of Driehaus Capital Management’s portfolio.Beach Investment Management. boosted its stake in AAPL in the latest quarter, The investment management firm added 11,770 additional shares and now holds a total of 14,780 shares of Apple which is valued at $1.3 Million. Apple makes up approx 2.45% of Beach Investment Management.’s portfolio.Alliance Wealth Management Group reduced its stake in AAPL by selling 14 shares or 0.54% in the most recent quarter. The Hedge Fund company now holds 2,557 shares of AAPL which is valued at $231,460. Apple makes up approx 0.20% of Alliance Wealth Management Group’s portfolio.

Apple closed down -0.06 points or -0.06% at $100.35 with 3,63,41,240 shares getting traded on Friday. Post opening the session at $99.44, the shares hit an intraday low of $99.245 and an intraday high of $100.47 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. 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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