Firstmerit Bank N A Trustee Lowers stake in Apple (AAPL)

Apple (AAPL) : Firstmerit Bank N A Trustee reduced its stake in Apple by 4.42% during the most recent quarter end. The investment management company now holds a total of 205,445 shares of Apple which is valued at $19,901,457 after selling 9,496 shares in Apple , the firm said in a disclosure report filed with the SEC on Jul 11, 2016.Apple makes up approximately 1.57% of Firstmerit Bank N A Trustee’s portfolio.

Other Hedge Funds, Including , Lgt Capital Partners Ltd. boosted its stake in AAPL in the latest quarter, The investment management firm added 2,330 additional shares and now holds a total of 126,880 shares of Apple which is valued at $12,290,866. Apple makes up approx 2.08% of Lgt Capital Partners Ltd.’s portfolio.Watch Point Trust Co boosted its stake in AAPL in the latest quarter, The investment management firm added 1,116 additional shares and now holds a total of 37,854 shares of Apple which is valued at $3,659,725. Apple makes up approx 3.13% of Watch Point Trust Co’s portfolio.Mazama Capital Management Inc boosted its stake in AAPL in the latest quarter, The investment management firm added 17,508 additional shares and now holds a total of 203,552 shares of Apple which is valued at $19,679,407. Apple makes up approx 3.86% of Mazama Capital Management Inc’s portfolio.First Premier Bank boosted its stake in AAPL in the latest quarter, The investment management firm added 356 additional shares and now holds a total of 20,269 shares of Apple which is valued at $1,959,607. Apple makes up approx 1.48% of First Premier Bank’s portfolio.Deane Retirement Strategies reduced its stake in AAPL by selling 469 shares or 1.97% in the most recent quarter. The Hedge Fund company now holds 23,324 shares of AAPL which is valued at $2,216,713. Apple makes up approx 2.00% of Deane Retirement Strategies’s portfolio.

Apple closed down -0.55 points or -0.56% at $96.87 with 2,58,92,171 shares getting traded on Wednesday. Post opening the session at $97.41, the shares hit an intraday low of $96.84 and an intraday high of $97.67 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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. 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 .Shares were Reiterated by Goldman on Jun 2, 2016 to “Buy” and Lowered the Price Target to $ 124 from a previous price target of $136 .

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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