Today The Sanford C. Bernstein Reaffirms “Outperform” Rating for Apple Inc. (AAPL)

Today The Sanford C. Bernstein Reaffirms “Outperform” Rating for Apple Inc. (AAPL)

Apple Inc. (NASDAQ:AAPL)‘s stock had its “outperform” rating reissued by equities researchers at Sanford C. Bernstein in a research note issued to investors on Wednesday.

Several other equities analysts have also weighed in on AAPL. Needham & Company LLC restated a “top pick” rating and issued a $150.00 price target on shares of Apple in a research note on Tuesday. Credit Suisse Group restated an “outperform” rating on shares of Apple in a research note on Wednesday. Stifel Nicolaus restated a “reduce” rating and issued a $115.00 price target on shares of Apple in a research note on Monday. Robert W. Baird restated an “outperform” rating and issued a $133.00 price target on shares of Apple in a research note on Tuesday. Finally, Cowen and Company reiterated an “outperform” rating on shares of Apple in a research note on Tuesday. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, forty-one have given a buy rating and three have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $130.09.

Shares of Apple (NASDAQ:AAPL) opened at 119.97 on Wednesday. The company has a market capitalization of $639.72 billion, a price-to-earnings ratio of 14.44 and a beta of 1.30. The stock has a 50 day moving average price of $116.82 and a 200 day moving average price of $111.12. Apple has a 1-year low of $89.47 and a 1-year high of $120.81.

In other Apple news, insider Luca Maestri sold 2,300 shares of the company’s stock in a transaction dated Wednesday, December 28th. The shares were sold at an average price of $117.67, for a total value of $270,641.00. Following the completion of the transaction, the insider now owns 4,632 shares in the company, valued at approximately $545,047.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Philip W. Schiller sold 43,769 shares of the company’s stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $115.07, for a total transaction of $5,036,498.83. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 187,559 shares of company stock valued at $21,715,924. Insiders own 0.08% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of AAPL. LGT Capital Partners LTD. boosted its position in Apple by 10.4% in the third quarter. LGT Capital Partners LTD. now owns 140,020 shares of the iPhone maker’s stock valued at $15,829,000 after buying an additional 13,140 shares during the period. BNP Paribas Arbitrage SA boosted its position in Apple by 34.8% in the second quarter. BNP Paribas Arbitrage SA now owns 5,887,600 shares of the iPhone maker’s stock valued at $562,855,000 after buying an additional 1,521,440 shares during the period. CFO4Life L.P. boosted its position in Apple by 3.3% in the third quarter. CFO4Life L.P. now owns 21,036 shares of the iPhone maker’s stock valued at $2,378,000 after buying an additional 670 shares during the period. Woodstock Corp boosted its position in Apple by 2.4% in the third quarter. Woodstock Corp now owns 62,122 shares of the iPhone maker’s stock valued at $7,023,000 after buying an additional 1,440 shares during the period. Finally, CI Global Investments Inc. boosted its position in Apple by 7.2% in the second quarter. CI Global Investments Inc. now owns 538,675 shares of the iPhone maker’s stock valued at $51,497,000 after buying an additional 36,200 shares during the period. Hedge funds and other institutional investors own 58.95% of the company’s stock.

About Apple

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.

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