Longer Investments Lowers stake in Apple (AAPL)

Apple (AAPL) : Longer Investments reduced its stake in Apple by 14.0% during the most recent quarter end. The investment management company now holds a total of 25,066 shares of Apple which is valued at $2,505,597 after selling 4,081 shares in Apple , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Apple makes up approximately 2.67% of Longer Investments’s portfolio.

Other Hedge Funds, Including , Highland Capital Management boosted its stake in AAPL in the latest quarter, The investment management firm added 61,540 additional shares and now holds a total of 293,817 shares of Apple which is valued at $29,369,947. Apple makes up approx 2.45% of Highland Capital Management’s portfolio.Sumitomo Life Insurance Co reduced its stake in AAPL by selling 17,191 shares or 7.48% in the most recent quarter. The Hedge Fund company now holds 212,625 shares of AAPL which is valued at $21,226,354. Apple makes up approx 2.82% of Sumitomo Life Insurance Co’s portfolio.Murphy Pohlad Asset Management boosted its stake in AAPL in the latest quarter, The investment management firm added 1,290 additional shares and now holds a total of 24,919 shares of Apple which is valued at $2,413,904. Apple makes up approx 1.75% of Murphy Pohlad Asset Management’s portfolio.Oakmont Partners reduced its stake in AAPL by selling 541 shares or 13.97% in the most recent quarter. The Hedge Fund company now holds 3,331 shares of AAPL which is valued at $322,674. Apple makes up approx 0.21% of Oakmont Partners’s portfolio.

Apple opened for trading at $100 and hit $100.46 on the upside on Wednesday, eventually ending the session at $99.96, with a gain of 0.09% or 0.09 points. The heightened volatility saw the trading volume jump to 2,62,75,968 shares. Company has a market cap of $547,523 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 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.

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.