Advisory Services Network Lowers stake in Apple (AAPL)

Apple (AAPL) : Advisory Services Network reduced its stake in Apple by 14.75% during the most recent quarter end. The investment management company now holds a total of 96,460 shares of Apple which is valued at $10,193,893 after selling 16,687 shares in Apple , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Apple makes up approximately 2.74% of Advisory Services Network’s portfolio.

Apple closed down -6.53 points or -6.26% at $97.82 with 11,46,02,142 shares getting traded on Wednesday. Post opening the session at $96, the shares hit an intraday low of $95.68 and an intraday high of $98.71 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Mizuho Securities Usa reduced its stake in AAPL by selling 283,200 shares or 68.29% in the most recent quarter. The Hedge Fund company now holds 131,500 shares of AAPL which is valued at $13,896,920. Apple makes up approx 3.46% of Mizuho Securities Usa’s portfolio.Watch Point Trust Co boosted its stake in AAPL in the latest quarter, The investment management firm added 5,145 additional shares and now holds a total of 36,738 shares of Apple which is valued at $3,882,472. Apple makes up approx 3.40% of Watch Point Trust Co’s portfolio.Exencial Wealth Advisors boosted its stake in AAPL in the latest quarter, The investment management firm added 3,556 additional shares and now holds a total of 68,967 shares of Apple which is valued at $7,288,433. Apple makes up approx 3.36% of Exencial Wealth Advisors’s portfolio.Oakbrook Investments reduced its stake in AAPL by selling 21,119 shares or 6.0% in the most recent quarter. The Hedge Fund company now holds 330,993 shares of AAPL which is valued at $36,359,581. Apple makes up approx 2.32% of Oakbrook Investments’s portfolio.First American Bank reduced its stake in AAPL by selling 13,567 shares or 6.29% in the most recent quarter. The Hedge Fund company now holds 202,077 shares of AAPL which is valued at $22,030,435. Apple makes up approx 2.30% of First American Bank’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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