Augustine Asset Management Inc Lowers stake in Apple (AAPL)

Apple (AAPL) : Augustine Asset Management Inc reduced its stake in Apple by 0.68% during the most recent quarter end. The investment management company now holds a total of 98,392 shares of Apple which is valued at $9,531,233 after selling 675 shares in Apple , the firm said in a disclosure report filed with the SEC on Jul 12, 2016.Apple makes up approximately 7.40% of Augustine Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Saddle Road Partners boosted its stake in AAPL in the latest quarter, The investment management firm added 15,726 additional shares and now holds a total of 62,315 shares of Apple which is valued at $6,036,454. Apple makes up approx 3.52% of Saddle Road Partners’s portfolio.Peachtree Investment Advisors reduced its stake in AAPL by selling 5,865 shares or 14.53% in the most recent quarter. The Hedge Fund company now holds 34,502 shares of AAPL which is valued at $3,342,209. Apple makes up approx 3.33% of Peachtree Investment Advisors’s portfolio.Benjamin F. Edwards Company boosted its stake in AAPL in the latest quarter, The investment management firm added 2,972 additional shares and now holds a total of 48,289 shares of Apple which is valued at $4,677,755. Apple makes up approx 0.89% of Benjamin F. Edwards Company’s portfolio.Triangle Securities Wealth Management reduced its stake in AAPL by selling 890 shares or 5.17% in the most recent quarter. The Hedge Fund company now holds 16,312 shares of AAPL which is valued at $1,577,044. Apple makes up approx 1.16% of Triangle Securities Wealth Management’s portfolio.Baxter Bros Inc reduced its stake in AAPL by selling 13,858 shares or 68.08% in the most recent quarter. The Hedge Fund company now holds 6,498 shares of AAPL which is valued at $628,227. Apple makes up approx 0.20% of Baxter Bros Inc’s portfolio.

Apple closed down -0.01 points or -0.01% at $98.78 with 3,01,36,990 shares getting traded on Friday. Post opening the session at $98.92, the shares hit an intraday low of $98.5 and an intraday high of $99.3 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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 Barclays on Jul 15, 2016 to “Overweight” and Lowered the Price Target to $ 115 from a previous price target of $121 .Longbow Initiated Apple on Jul 6, 2016 to “Buy”, Price Target of the shares are set at $125.Shares were Reiterated by RBC Capital Mkts on Jun 17, 2016 to “Outperform” and Lowered the Price Target to $ 115 from a previous price target of $120 .

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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