Baker Avenue Asset Management Lp Lowers stake in Apple (AAPL)

Apple (AAPL) : Baker Avenue Asset Management Lp reduced its stake in Apple by 18.91% during the most recent quarter end. The investment management company now holds a total of 74,149 shares of Apple which is valued at $8,039,976 after selling 17,290 shares in Apple , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Apple makes up approximately 1.17% of Baker Avenue Asset Management Lp’s portfolio.

Other Hedge Funds, Including , Centaur Capital Partners reduced its stake in AAPL by selling 27,000 shares or 50.94% in the most recent quarter. The Hedge Fund company now holds 26,000 shares of AAPL which is valued at $2,748,460. Apple makes up approx 5.70% of Centaur Capital Partners’s portfolio.Credit Agricole S A boosted its stake in AAPL in the latest quarter, The investment management firm added 855,259 additional shares and now holds a total of 6,275,203 shares of Apple which is valued at $676,404,131. Apple makes up approx 2.26% of Credit Agricole S A’s portfolio.Uss Investment Management Ltd boosted its stake in AAPL in the latest quarter, The investment management firm added 617,000 additional shares and now holds a total of 1,534,518 shares of Apple which is valued at $171,236,864. Apple makes up approx 2.71% of Uss Investment Management Ltd’s portfolio.Bergankdv Wealth Management boosted its stake in AAPL in the latest quarter, The investment management firm added 496 additional shares and now holds a total of 3,520 shares of Apple which is valued at $392,445. Apple makes up approx 0.14% of Bergankdv Wealth Management’s portfolio.

Apple opened for trading at $109.72 and hit $110.54 on the upside on Monday, eventually ending the session at $110.06, with a gain of 0.10% or 0.11 points. The heightened volatility saw the trading volume jump to 2,84,28,917 shares. Company has a market cap of $586,874 M.

On the company’s financial health, Apple reported $1.67 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 25, 2016. Analyst had a consensus of $1.66. The company had revenue of $46852.00 million for the quarter, compared to analysts expectations of $46977.40 million. The company’s revenue was down -9.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.96 EPS.

Many Wall Street Analysts have commented on Apple. Apple was Downgraded by Hilliard Lyons to ” Long-term Buy” on Oct 27, 2016. Shares were Downgraded by Stifel on Oct 26, 2016 to ” Hold” and Lowered the Price Target to $ 115 from a previous price target of $130 .Company shares were Reiterated by Cowen on Oct 21, 2016 to “Outperform”, Firm has raised the Price Target to $ 135 from a previous price target of $125 .

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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