Independent Portfolio Consultants Lowers stake in Apple (AAPL)

Apple (AAPL) : Independent Portfolio Consultants reduced its stake in Apple by 12.06% during the most recent quarter end. The investment management company now holds a total of 49,836 shares of Apple which is valued at $4,975,128 after selling 6,834 shares in Apple , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.Apple makes up approximately 1.52% of Independent Portfolio Consultants’s portfolio.

Other Hedge Funds, Including , Piershale Financial Group boosted its stake in AAPL in the latest quarter, The investment management firm added 5 additional shares and now holds a total of 823 shares of Apple which is valued at $82,160. Apple makes up approx 0.06% of Piershale Financial Group’s portfolio.Wilsey Asset Management Inc boosted its stake in AAPL in the latest quarter, The investment management firm added 408 additional shares and now holds a total of 92,227 shares of Apple which is valued at $9,207,021. Apple makes up approx 6.40% of Wilsey Asset Management Inc’s portfolio.Consolidated Investment Group boosted its stake in AAPL in the latest quarter, The investment management firm added 1,000 additional shares and now holds a total of 36,757 shares of Apple which is valued at $3,669,451. Apple makes up approx 1.79% of Consolidated Investment Group’s portfolio.Webster Bank N. A. boosted its stake in AAPL in the latest quarter, The investment management firm added 3,254 additional shares and now holds a total of 109,666 shares of Apple which is valued at $10,623,345. Apple makes up approx 1.53% of Webster Bank N. A.’s portfolio.Toth Financial Advisory Corp boosted its stake in AAPL in the latest quarter, The investment management firm added 332 additional shares and now holds a total of 9,618 shares of Apple which is valued at $922,270. Apple makes up approx 0.28% of Toth Financial Advisory Corp’s portfolio.

Apple opened for trading at $98.7 and hit $100.13 on the upside on Monday, eventually ending the session at $99.83, with a gain of 1.06% or 1.05 points. The heightened volatility saw the trading volume jump to 3,64,93,867 shares. Company has a market cap of $546,811 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 Barclays on Jul 15, 2016 to “Overweight” and Lowered the Price Target to $ 115 from a previous price target of $121 .Longbow Initiated Apple on Jul 6, 2016 to “Buy”, Price Target of the shares are set at $125.Shares were Reiterated by RBC Capital Mkts on Jun 17, 2016 to “Outperform” and Lowered the Price Target to $ 115 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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