Richard Bernstein Advisors Lowers stake in Apple (AAPL)

Apple (AAPL) : Richard Bernstein Advisors reduced its stake in Apple by 3.6% during the most recent quarter end. The investment management company now holds a total of 209,077 shares of Apple which is valued at $19,385,619 after selling 7,810 shares in Apple , the firm said in a disclosure report filed with the SEC on May 3, 2016.Apple makes up approximately 1.92% of Richard Bernstein Advisors’s portfolio.

Other Hedge Funds, Including , Baskin Financial Services reduced its stake in AAPL by selling 1,105 shares or 0.65% in the most recent quarter. The Hedge Fund company now holds 169,958 shares of AAPL which is valued at $15,758,506. Apple makes up approx 4.59% of Baskin Financial Services’s portfolio.Lodestar Investment Counselil boosted its stake in AAPL in the latest quarter, The investment management firm added 37,113 additional shares and now holds a total of 176,215 shares of Apple which is valued at $18,622,401. Apple makes up approx 2.63% of Lodestar Investment Counselil’s portfolio.Cardinal Capital Management boosted its stake in AAPL in the latest quarter, The investment management firm added 1,385 additional shares and now holds a total of 39,689 shares of Apple which is valued at $4,194,334. Apple makes up approx 1.72% of Cardinal Capital Management’s portfolio.Lucas Capital Management reduced its stake in AAPL by selling 4,015 shares or 6.04% in the most recent quarter. The Hedge Fund company now holds 62,407 shares of AAPL which is valued at $6,595,172. Apple makes up approx 4.51% of Lucas Capital Management’s portfolio.Dorchester Wealth Management Co boosted its stake in AAPL in the latest quarter, The investment management firm added 2,095 additional shares and now holds a total of 53,055 shares of Apple which is valued at $5,606,852. Apple makes up approx 2.05% of Dorchester Wealth Management Co’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.

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