North American Management Corp Lowers stake in Apple Inc (AAPL)

Apple Inc (AAPL) : North American Management Corp reduced its stake in Apple Inc by 2.8% during the most recent quarter end. The investment management company now holds a total of 154,576 shares of Apple Inc which is valued at $16,980,174 after selling 4,447 shares in Apple Inc , the firm said in a disclosure report filed with the SEC on Apr 13, 2016.Apple Inc makes up approximately 2.73% of North American Management Corp’s portfolio.

Apple Inc closed down -2.37 points or -2.16% at $107.48 with 6,08,21,461 shares getting traded on Monday. Post opening the session at $108.89, the shares hit an intraday low of $106.94 and an intraday high of $108.95 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Other Hedge Funds, Including , Oakwood Capital Managementca boosted its stake in AAPL in the latest quarter, The investment management firm added 528 additional shares and now holds a total of 65,317 shares of Apple Inc which is valued at $7,175,072. Apple Inc makes up approx 1.88% of Oakwood Capital Managementca’s portfolio.Monroe Bank Trustmi reduced its stake in AAPL by selling 387 shares or 1.7% in the most recent quarter. The Hedge Fund company now holds 22,348 shares of AAPL which is valued at $2,454,928. Apple Inc makes up approx 0.84% of Monroe Bank Trustmi’s portfolio. Boston Standard Wealth Management added AAPL to its portfolio by purchasing 2,266 company shares during the most recent quarter which is valued at $247,039. Apple Inc makes up approx 0.23% of Boston Standard Wealth Management’s portfolio.Foundry Partners reduced its stake in AAPL by selling 113,823 shares or 45.39% in the most recent quarter. The Hedge Fund company now holds 136,926 shares of AAPL which is valued at $14,927,673. Apple Inc makes up approx 1.50% of Foundry Partners’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. (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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