Manchester Capital Management Lowers stake in Apple (AAPL)

Apple (AAPL) : Manchester Capital Management reduced its stake in Apple by 0.09% during the most recent quarter end. The investment management company now holds a total of 62,800 shares of Apple which is valued at $6,195,848 after selling 56 shares in Apple , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.Apple makes up approximately 0.86% of Manchester Capital Management’s portfolio.

Other Hedge Funds, Including , Bollard Group boosted its stake in AAPL in the latest quarter, The investment management firm added 3 additional shares and now holds a total of 21,318 shares of Apple which is valued at $2,103,234. Apple makes up approx 0.14% of Bollard Group’s portfolio.Investment Counsel reduced its stake in AAPL by selling 1,046 shares or 3.82% in the most recent quarter. The Hedge Fund company now holds 26,361 shares of AAPL which is valued at $2,635,046. Apple makes up approx 2.07% of Investment Counsel’s portfolio.Merriman Wealth Management boosted its stake in AAPL in the latest quarter, The investment management firm added 27,237 additional shares and now holds a total of 43,392 shares of Apple which is valued at $4,195,139. Apple makes up approx 1.17% of Merriman Wealth Management’s portfolio.Edge Wealth Management boosted its stake in AAPL in the latest quarter, The investment management firm added 29,047 additional shares and now holds a total of 121,194 shares of Apple which is valued at $11,717,036. Apple makes up approx 4.81% of Edge Wealth Management’s portfolio.Nexus Investment Management boosted its stake in AAPL in the latest quarter, The investment management firm added 8,800 additional shares and now holds a total of 193,147 shares of Apple which is valued at $18,673,452. Apple makes up approx 3.51% of Nexus Investment Management’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. Company shares were Reiterated by Maxim Group on Jul 25, 2016 to “Buy”, Firm has raised the Price Target to $ 168 from a previous price target of $157 .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.

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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