Seminole Management Exits Position in Apple (AAPL)

Apple (AAPL) : Seminole Management has sold out all of its stake in Apple during the most recent quarter, according to the disclosure filed by the company on Jul 26, 2016 with the SEC. The investment management company has sold out 201,000 shares of Apple which is valued at $20,692,950.

Other Hedge Funds, Including , Palouse Capital Management reduced its stake in AAPL by selling 603 shares or 1.74% in the most recent quarter. The Hedge Fund company now holds 33,975 shares of AAPL which is valued at $3,497,726. Apple makes up approx 1.36% of Palouse Capital Management’s portfolio.Security National Trust Co reduced its stake in AAPL by selling 631 shares or 1.09% in the most recent quarter. The Hedge Fund company now holds 57,302 shares of AAPL which is valued at $5,653,415. Apple makes up approx 2.02% of Security National Trust Co’s portfolio.Gradient Investments boosted its stake in AAPL in the latest quarter, The investment management firm added 7,450 additional shares and now holds a total of 60,615 shares of Apple which is valued at $6,051,195. Apple makes up approx 0.64% of Gradient Investments’s portfolio.First Western Capital Management Co reduced its stake in AAPL by selling 3,729 shares or 7.15% in the most recent quarter. The Hedge Fund company now holds 48,412 shares of AAPL which is valued at $4,689,670. Apple makes up approx 1.67% of First Western Capital Management Co’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 closed down -0.13 points or -0.12% at $104.21 with 2,77,33,688 shares getting traded on Friday. Post opening the session at $104.19, the shares hit an intraday low of $103.68 and an intraday high of $104.55 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.

Investors should note that on Jul 26, 2016, Apple announced a cash dividend of $0.5700. The company’s management has announced Aug 4, 2016 as the ex-dividend date and fixed the record date on Aug 8, 2016. The payable date has been fixed on Aug 11, 2016.

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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