Municipal Employees’ Retirement System Of Michigan Lowers stake in Apple (AAPL)

Apple (AAPL) : Municipal Employees’ Retirement System Of Michigan reduced its stake in Apple by 0.95% during the most recent quarter end. The investment management company now holds a total of 178,840 shares of Apple which is valued at $16,582,045 after selling 1,720 shares in Apple , the firm said in a disclosure report filed with the SEC on May 3, 2016.Apple makes up approximately 1.10% of Municipal Employees’ Retirement System Of Michigan’s portfolio.

Other Hedge Funds, Including , Arcus Capital Partners boosted its stake in AAPL in the latest quarter, The investment management firm added 38 additional shares and now holds a total of 2,191 shares of Apple which is valued at $203,150. Apple makes up approx 0.15% of Arcus Capital Partners’s portfolio.Argent Trust Co boosted its stake in AAPL in the latest quarter, The investment management firm added 1,933 additional shares and now holds a total of 78,097 shares of Apple which is valued at $7,241,154. Apple makes up approx 2.31% of Argent Trust Co’s portfolio.Princeton Capital Management Inc reduced its stake in AAPL by selling 603 shares or 1.33% in the most recent quarter. The Hedge Fund company now holds 44,831 shares of AAPL which is valued at $4,202,458. Apple makes up approx 2.95% of Princeton Capital Management Inc’s portfolio.Highpoint Advisor Group reduced its stake in AAPL by selling 4,991 shares or 8.39% in the most recent quarter. The Hedge Fund company now holds 54,478 shares of AAPL which is valued at $5,106,768. Apple makes up approx 3.14% of Highpoint Advisor Group’s portfolio.

Apple opened for trading at $93.33 and hit $93.57 on the upside on Tuesday, eventually ending the session at $93.42, with a gain of 0.68% or 0.63 points. The heightened volatility saw the trading volume jump to 3,36,86,836 shares. Company has a market cap of $511,701 M.

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.

Leave a Reply

Apple - Is it time to Sell?

Top Brokerage Firms are advising their investors on Apple. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.