Davy Asset Management Ltd Lowers stake in Apple (AAPL)

Apple (AAPL) : Davy Asset Management Ltd reduced its stake in Apple by 16.44% during the most recent quarter end. The investment management company now holds a total of 87,599 shares of Apple which is valued at $9,267,098 after selling 17,234 shares in Apple , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Apple makes up approximately 1.86% of Davy Asset Management Ltd’s portfolio.

Other Hedge Funds, Including , Community Financial Services Group added AAPL to its portfolio by purchasing 27,033 company shares during the most recent quarter which is valued at $2,859,821. Apple makes up approx 1.36% of Community Financial Services Group’s portfolio.Reliant Investment Management boosted its stake in AAPL in the latest quarter, The investment management firm added 625 additional shares and now holds a total of 33,341 shares of Apple which is valued at $3,527,144. Apple makes up approx 3.08% of Reliant Investment Management’s portfolio.Beck Mack Oliver reduced its stake in AAPL by selling 1,512 shares or 1.65% in the most recent quarter. The Hedge Fund company now holds 89,970 shares of AAPL which is valued at $9,375,774. Apple makes up approx 0.32% of Beck Mack Oliver’s portfolio.North Star Asset Management Inc boosted its stake in AAPL in the latest quarter, The investment management firm added 1,453 additional shares and now holds a total of 125,480 shares of Apple which is valued at $13,076,271. Apple makes up approx 1.47% of North Star Asset Management Inc’s portfolio.Huntington Steele reduced its stake in AAPL by selling 1,578 shares or 17.38% in the most recent quarter. The Hedge Fund company now holds 7,501 shares of AAPL which is valued at $726,622. Apple makes up approx 0.26% of Huntington Steele’s portfolio.

Apple opened for trading at $107.52 and hit $108.37 on the upside on Monday, eventually ending the session at $108.37, with a gain of 0.83% or 0.89 points. The heightened volatility saw the trading volume jump to 2,80,37,220 shares. Company has a market cap of $583,946 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. Apple was Upgraded by Hilliard Lyons to ” Buy” on Jul 28, 2016. Company shares were Reiterated by Macquarie on Jul 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 115 from a previous price target of $112 .Apple was Upgraded by Raymond James to ” Outperform” on Jul 27, 2016.

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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