Beacon Financial Group Lowers stake in Apple Inc (AAPL)

Apple Inc (AAPL) : Beacon Financial Group reduced its stake in Apple Inc by 0.21% during the most recent quarter end. The investment management company now holds a total of 39,799 shares of Apple Inc which is valued at $4.4 Million after selling 85 shares in Apple Inc according to a report filed by the company on Apr 1, 2016 with the SEC.Apple Inc makes up approximately 0.95% of Beacon Financial Group’s portfolio.

Other Hedge Funds, Including , Renaissance Investment Group reduced its stake in AAPL by selling 15,931 shares or 21.03% in the most recent quarter. The Hedge Fund company now holds 59,816 shares of AAPL which is valued at $6.6 Million. Apple Inc makes up approx 3.29% of Renaissance Investment Group’s portfolio.

On the company’s financial health, Apple Inc reported $3.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jan 26, 2016. Analyst had a consensus of $3.23. The company had revenue of $75872.00 million for the quarter, compared to analysts expectations of $76596.37 million. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.06 EPS.

Many Wall Street Analysts have commented on Apple Inc. Needham Initiated Apple Inc on Apr 6, 2016 to “Strong Buy”, Price Target of the shares are set at $150.Company shares were Reiterated by Credit Suisse on Apr 4, 2016 to “Outperform”, Firm has raised the Price Target to $ 150 from a previous price target of $140 .Company shares were Upgraded by Cowen on Mar 30, 2016 to ” Outperform”, Firm has raised the Price Target to $ 135 from a previous price target of $125 .

Apple Inc opened for trading at $108.97 and hit $110.61 on the upside on Monday, eventually ending the session at $109.02, with a gain of 0.33% or 0.36 points. The heightened volatility saw the trading volume jump to 2,94,07,518 shares. Company has a market cap of $604,470 M.

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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