Cornerstone Investment Partners Lowers stake in Apple (AAPL)

Apple (AAPL) : Cornerstone Investment Partners reduced its stake in Apple by 24.92% during the most recent quarter end. The investment management company now holds a total of 539,518 shares of Apple which is valued at $63,112,816 after selling 179,060 shares in Apple , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Apple makes up approximately 2.79% of Cornerstone Investment Partners’s portfolio.

Other Hedge Funds, Including , Profit Investment Management reduced its stake in AAPL by selling 11,636 shares or 37.86% in the most recent quarter. The Hedge Fund company now holds 19,102 shares of AAPL which is valued at $2,234,552. Apple makes up approx 2.25% of Profit Investment Management’s portfolio.Genesee Valley Trust Co reduced its stake in AAPL by selling 1,009 shares or 5.48% in the most recent quarter. The Hedge Fund company now holds 17,410 shares of AAPL which is valued at $2,024,783. Apple makes up approx 1.31% of Genesee Valley Trust Co’s portfolio.Reilly Herbert Faulkner Iii boosted its stake in AAPL in the latest quarter, The investment management firm added 1,036 additional shares and now holds a total of 34,644 shares of Apple which is valued at $4,020,436. Apple makes up approx 3.02% of Reilly Herbert Faulkner Iii’s portfolio.Hills Bank Trust Co boosted its stake in AAPL in the latest quarter, The investment management firm added 610 additional shares and now holds a total of 42,180 shares of Apple which is valued at $4,894,989. Apple makes up approx 1.77% of Hills Bank Trust Co’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in AAPL by selling 660,150 shares or 11.21% in the most recent quarter. The Hedge Fund company now holds 5,227,450 shares of AAPL which is valued at $590,963,223. Apple makes up approx 2.42% of Bnp Paribas Arbitrage Sa’s portfolio.

Apple opened for trading at $117.7 and hit $118.69 on the upside on Tuesday, eventually ending the session at $116.3, with a gain of 0.22% or 0.25 points. The heightened volatility saw the trading volume jump to 6,40,41,043 shares. Company has a market cap of $626,676 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 Pacific Crest on Oct 13, 2016 to “Overweight”, Firm has raised the Price Target to $ 129 from a previous price target of $121 .Company shares were Reiterated by Mizuho on Oct 12, 2016 to “Buy”, Firm has raised the Price Target to $ 130 from a previous price target of $120 .Company shares were Reiterated by Citigroup on Sep 30, 2016 to “Buy”, Firm has raised the Price Target to $ 130 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.

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