Cornerstone Advisors buys $736,378 stake in Apple Inc (AAPL)

Apple Inc (AAPL) : Cornerstone Advisors scooped up 577 additional shares in Apple Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 20, 2016. The investment management firm now holds a total of 6,968 shares of Apple Inc which is valued at $736,378.Apple Inc makes up approximately 0.76% of Cornerstone Advisors’s portfolio.

Apple Inc closed down -0.29 points or -0.27% at $105.68 with 3,36,83,121 shares getting traded on Friday. Post opening the session at $105.01, the shares hit an intraday low of $104.62 and an intraday high of $106.48 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Rosenbaum Jay D. boosted its stake in AAPL in the latest quarter, The investment management firm added 1,482 additional shares and now holds a total of 13,382 shares of Apple Inc which is valued at $1,414,210. Apple Inc makes up approx 0.26% of Rosenbaum Jay D.’s portfolio.Fort Pitt Capital Group reduced its stake in AAPL by selling 1,017 shares or 5.99% in the most recent quarter. The Hedge Fund company now holds 15,966 shares of AAPL which is valued at $1,687,287. Apple Inc makes up approx 0.21% of Fort Pitt Capital Group’s portfolio.Private Trust Co Na boosted its stake in AAPL in the latest quarter, The investment management firm added 10,330 additional shares and now holds a total of 84,241 shares of Apple Inc which is valued at $8,902,589. Apple Inc makes up approx 2.37% of Private Trust Co Na’s portfolio.Hays Advisory reduced its stake in AAPL by selling 8,674 shares or 11.47% in the most recent quarter. The Hedge Fund company now holds 66,963 shares of AAPL which is valued at $7,355,886. Apple Inc makes up approx 1.03% of Hays Advisory’s portfolio. Integral Derivatives sold out all of its stake in AAPL during the most recent quarter. The investment firm sold 73,414 shares of AAPL which is valued $8,064,528.

On the company’s financial health, Apple Inc 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 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. (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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