Shikiar Asset Management Inc Lowers stake in Apple (AAPL)

Apple (AAPL) : Shikiar Asset Management Inc reduced its stake in Apple by 21.43% during the most recent quarter end. The investment management company now holds a total of 86,080 shares of Apple which is valued at $9,096,934 after selling 23,480 shares in Apple , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Apple makes up approximately 4.14% of Shikiar Asset Management Inc’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 , Alpha Omega Wealth Management boosted its stake in AAPL in the latest quarter, The investment management firm added 196 additional shares and now holds a total of 27,770 shares of Apple which is valued at $2,934,734. Apple makes up approx 2.45% of Alpha Omega Wealth Management’s portfolio.Clean Yield Group reduced its stake in AAPL by selling 3,273 shares or 4.04% in the most recent quarter. The Hedge Fund company now holds 77,813 shares of AAPL which is valued at $8,547,758. Apple makes up approx 3.79% of Clean Yield Group’s portfolio.Neville Rodie Shaw Inc reduced its stake in AAPL by selling 7,764 shares or 2.39% in the most recent quarter. The Hedge Fund company now holds 316,470 shares of AAPL which is valued at $34,764,230. Apple makes up approx 4.17% of Neville Rodie Shaw Inc’s portfolio.Exchange Capital Management boosted its stake in AAPL in the latest quarter, The investment management firm added 975 additional shares and now holds a total of 85,456 shares of Apple which is valued at $9,387,342. Apple makes up approx 4.00% of Exchange Capital Management’s portfolio.Stillwater Capital Advisors reduced its stake in AAPL by selling 2,457 shares or 1.86% in the most recent quarter. The Hedge Fund company now holds 129,903 shares of AAPL which is valued at $14,269,845. Apple makes up approx 4.14% of Stillwater Capital Advisors’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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