Park Avenue Institutional Advisers Lowers stake in Apple (AAPL)

Apple (AAPL) : Park Avenue Institutional Advisers reduced its stake in Apple by 2.74% during the most recent quarter end. The investment management company now holds a total of 35,121 shares of Apple which is valued at $3.2 Million after selling 988 shares in Apple , the firm said in a disclosure report filed with the SEC on May 12, 2016.Apple makes up approximately 2.77% of Park Avenue Institutional Advisers’s portfolio.

Other Hedge Funds, Including , Aft Forsyth Sober sold out all of its stake in AAPL during the most recent quarter. The investment firm sold 3,800 shares of AAPL which is valued $343,976.Keybank National Associationoh boosted its stake in AAPL in the latest quarter, The investment management firm added 18,293 additional shares and now holds a total of 2,467,065 shares of Apple which is valued at $223.3 Million. Apple makes up approx 1.49% of Keybank National Associationoh’s portfolio.Summit Financial Strategies reduced its stake in AAPL by selling 490 shares or 7.0% in the most recent quarter. The Hedge Fund company now holds 6,514 shares of AAPL which is valued at $589,647. Apple makes up approx 0.43% of Summit Financial Strategies’s portfolio.Bank Of The Ozarks boosted its stake in AAPL in the latest quarter, The investment management firm added 1,261 additional shares and now holds a total of 34,667 shares of Apple which is valued at $3.2 Million. Apple makes up approx 1.22% of Bank Of The Ozarks’s portfolio.Jackson Wealth Management reduced its stake in AAPL by selling 103 shares or 0.32% in the most recent quarter. The Hedge Fund company now holds 31,834 shares of AAPL which is valued at $3 Million. Apple makes up approx 1.14% of Jackson Wealth Management’s portfolio.

Apple opened for trading at $94.64 and hit $95.43 on the upside on Friday, eventually ending the session at $95.22, with a gain of 1.08% or 1.02 points. The heightened volatility saw the trading volume jump to 3,20,25,968 shares. Company has a market cap of $521,560 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 UBS on May 11, 2016 to “Buy” and Lowered the Price Target to $ 115 from a previous price target of $120 .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 .

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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