Traynor Capital Management Lowers stake in Apple Inc (AAPL)

Apple Inc (AAPL) : Traynor Capital Management reduced its stake in Apple Inc by 1.21% during the most recent quarter end. The investment management company now holds a total of 108,212 shares of Apple Inc which is valued at $11,435,844 after selling 1,329 shares in Apple Inc , the firm said in a disclosure report filed with the SEC on Apr 18, 2016.Apple Inc makes up approximately 8.88% of Traynor Capital Management’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 , National Investment Services Inc Wi boosted its stake in AAPL in the latest quarter, The investment management firm added 2,239 additional shares and now holds a total of 32,153 shares of Apple Inc which is valued at $3,397,929. Apple Inc makes up approx 3.80% of National Investment Services Inc Wi’s portfolio.Koshinski Asset Management boosted its stake in AAPL in the latest quarter, The investment management firm added 4,354 additional shares and now holds a total of 31,170 shares of Apple Inc which is valued at $3,424,025. Apple Inc makes up approx 2.21% of Koshinski Asset Management’s portfolio.Howland Capital Management reduced its stake in AAPL by selling 2,320 shares or 6.9% in the most recent quarter. The Hedge Fund company now holds 31,285 shares of AAPL which is valued at $3,436,657. Apple Inc makes up approx 0.35% of Howland Capital Management’s portfolio.Eastern Bank boosted its stake in AAPL in the latest quarter, The investment management firm added 6,878 additional shares and now holds a total of 292,233 shares of Apple Inc which is valued at $32,101,795. Apple Inc makes up approx 2.59% of Eastern Bank’s portfolio.Benjamin F. Edwards Company boosted its stake in AAPL in the latest quarter, The investment management firm added 11,633 additional shares and now holds a total of 45,317 shares of Apple Inc which is valued at $4,978,072. Apple Inc makes up approx 1.02% of Benjamin F. Edwards Company’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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