Elite Wealth Management Lowers stake in Apple (AAPL)

Apple (AAPL) : Elite Wealth Management reduced its stake in Apple by 3.9% during the most recent quarter end. The investment management company now holds a total of 28,194 shares of Apple which is valued at $3,316,460 after selling 1,143 shares in Apple , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Apple makes up approximately 4.86% of Elite Wealth Management’s portfolio.

Other Hedge Funds, Including , Windward Capital Management Co Ca reduced its stake in AAPL by selling 1,470 shares or 0.45% in the most recent quarter. The Hedge Fund company now holds 328,084 shares of AAPL which is valued at $38,592,521. Apple makes up approx 7.27% of Windward Capital Management Co Ca’s portfolio.Hollencrest Securities reduced its stake in AAPL by selling 1,986 shares or 6.41% in the most recent quarter. The Hedge Fund company now holds 28,994 shares of AAPL which is valued at $3,372,002. Apple makes up approx 0.50% of Hollencrest Securities’s portfolio.Bristol John W Co Inc Ny reduced its stake in AAPL by selling 289,540 shares or 42.58% in the most recent quarter. The Hedge Fund company now holds 390,400 shares of AAPL which is valued at $45,305,920. Apple makes up approx 1.24% of Bristol John W Co Inc Ny’s portfolio.New England Research Management reduced its stake in AAPL by selling 755 shares or 5.56% in the most recent quarter. The Hedge Fund company now holds 12,835 shares of AAPL which is valued at $1,450,997. Apple makes up approx 1.22% of New England Research Management’s portfolio.

Apple opened for trading at $117.88 and hit $118.17 on the upside on Friday, eventually ending the session at $117.63, with a gain of 0.56% or 0.65 points. The heightened volatility saw the trading volume jump to 3,56,52,191 shares. Company has a market cap of $633,843 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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