Somerset Group buys $1,151,431 stake in Apple (AAPL)

Apple (AAPL) : Somerset Group scooped up 500 additional shares in Apple during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 9, 2016. The investment management firm now holds a total of 10,625 shares of Apple which is valued at $1,151,431.Apple makes up approximately 1.16% of Somerset Group’s portfolio.

Other Hedge Funds, Including , Trilogy Global Advisors Lp reduced its stake in AAPL by selling 9,175 shares or 1.95% in the most recent quarter. The Hedge Fund company now holds 460,734 shares of AAPL which is valued at $49,929,744. Apple makes up approx 1.45% of Trilogy Global Advisors Lp’s portfolio.Heritage Wealth Advisors boosted its stake in AAPL in the latest quarter, The investment management firm added 4,738 additional shares and now holds a total of 11,479 shares of Apple which is valued at $1,233,763. Apple makes up approx 0.81% of Heritage Wealth Advisors’s portfolio.Mutual Of America Capital Management reduced its stake in AAPL by selling 8,016 shares or 1.18% in the most recent quarter. The Hedge Fund company now holds 673,982 shares of AAPL which is valued at $71,300,556. Apple makes up approx 1.47% of Mutual Of America Capital Management’s portfolio.Wright Investors Service Inc reduced its stake in AAPL by selling 2,080 shares or 3.97% in the most recent quarter. The Hedge Fund company now holds 50,371 shares of AAPL which is valued at $5,328,748. Apple makes up approx 2.13% of Wright Investors Service Inc’s portfolio.Hartford Investment Management Co reduced its stake in AAPL by selling 43,519 shares or 3.13% in the most recent quarter. The Hedge Fund company now holds 1,345,222 shares of AAPL which is valued at $132,719,603. Apple makes up approx 2.71% of Hartford Investment Management Co’s portfolio.

Apple closed down -0.16 points or -0.15% at $109.22 with 2,53,55,976 shares getting traded on Wednesday. Post opening the session at $109.1, the shares hit an intraday low of $108.34 and an intraday high of $109.37 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. Company shares were Reiterated by RBC Capital Mkts on Aug 11, 2016 to “Outperform”, Firm has raised the Price Target to $ 117 from a previous price target of $115 .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 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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