Reliant Investment Management LLC Acquires New Position in Apple Inc. $AAPL

Reliant Investment Management LLC acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 43,702 shares of the iPhone maker’s stock, valued at approximately $14,554,000. Apple accounts for 5.0% of Reliant Investment Management LLC’s portfolio, making the stock its 6th largest holding.

Several other large investors have also made changes to their positions in the business. Sterling Wealth Management Inc. boosted its holdings in Apple by 0.3% in the second quarter. Sterling Wealth Management Inc. now owns 11,579 shares of the iPhone maker’s stock valued at $3,351,000 after purchasing an additional 30 shares during the last quarter. Thor Investment Management Inc. OH ADV grew its position in Apple by 1.6% during the 3rd quarter. Thor Investment Management Inc. OH ADV now owns 1,912 shares of the iPhone maker’s stock worth $637,000 after purchasing an additional 30 shares during the period. Evansbrook LLC raised its stake in shares of Apple by 0.4% during the 1st quarter. Evansbrook LLC now owns 8,095 shares of the iPhone maker’s stock valued at $2,054,000 after buying an additional 34 shares during the last quarter. JMG Financial Group Ltd. raised its stake in shares of Apple by 0.7% during the 1st quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker’s stock valued at $1,295,000 after buying an additional 35 shares during the last quarter. Finally, Wealth Forward LLC raised its stake in shares of Apple by 0.3% during the 3rd quarter. Wealth Forward LLC now owns 13,327 shares of the iPhone maker’s stock valued at $4,438,000 after buying an additional 35 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Jennifer Newstead sold 2,399 shares of Apple stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $339.62, for a total value of $814,748.38. Following the completion of the transaction, the senior vice president owned 34,795 shares in the company, valued at $11,817,077.90. The trade was a 6.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ben Borders sold 1,280 shares of the company’s stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $345.40, for a total value of $442,112.00. Following the completion of the transaction, the insider directly owned 38,288 shares of the company’s stock, valued at $13,224,675.20. The trade was a 3.23% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 286,853 shares of company stock worth $95,477,342. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several analyst reports. Citigroup reissued a “buy” rating on shares of Apple in a report on Thursday, September 10th. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Apple in a report on Wednesday, September 9th. Citic Securities lifted their price target on Apple from $300.00 to $349.00 in a research report on Thursday, August 6th. Rosenblatt Securities reiterated a “neutral” rating and set a $303.00 price target on shares of Apple in a research report on Thursday, September 10th. Finally, China Renaissance downgraded Apple from a “buy” rating to a “hold” rating and decreased their price target for the company from $329.00 to $280.00 in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $340.12.

Apple Stock Down 1.1%

AAPL stock opened at $343.91 on Tuesday. The firm has a market cap of $5.02 trillion, a PE ratio of 39.44, a P/E/G ratio of 2.75 and a beta of 1.07. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. The firm’s fifty day moving average is $329.47 and its 200 day moving average is $294.25. Apple Inc. has a one year low of $243.42 and a one year high of $351.73.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. The company had revenue of $109.42 billion during the quarter, compared to analysts’ expectations of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.57 earnings per share. On average, research analysts forecast that Apple Inc. will post 8.75 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were given a dividend of $0.27 per share. The ex-dividend date was Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. Apple’s dividend payout ratio (DPR) is 12.39%.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Demand for Apple’s first foldable iPhone Duo appears exceptionally strong, with delivery estimates extending into January. Apple has reportedly asked suppliers to increase production by 30%, suggesting robust consumer interest and potential for a sizable upgrade cycle. Apple’s iPhone Duo Buyers Face a Wait That Could Stretch Into January
• Positive Sentiment: Apple introduced a redesigned iPad mini beginning at $699, featuring an OLED display, A20 Pro chip, improved AI performance, water resistance and Wi-Fi 7. The launch broadens Apple’s higher-end hardware lineup ahead of the holiday season. Apple Unveils $699 OLED iPad Mini
• Positive Sentiment: Apple expanded Siri’s AI language support, including Japanese, indicating continued progress in its artificial-intelligence rollout and global product integration. Apple Expands Siri AI Languages
• Neutral Sentiment: Investors are focused on Apple’s fiscal fourth-quarter results expected November 2. Analysts anticipate continued iPhone, Mac and Services growth, but the stock’s premium valuation leaves limited room for an earnings or outlook disappointment. Why Buying Apple Stock Before Q4 Earnings Could Be Risky
• Negative Sentiment: Users have reported cracks and bright lines near the hinge on some $1,999 iPhone Duo units. Apple acknowledged the issue and said affected devices would be replaced under AppleCare, but the defect creates reputational, warranty-cost and execution risks for an important new product. Apple Responds to Reports of Broken iPhone Duo Screens
• Negative Sentiment: The new iPad mini’s higher starting price may limit demand, while broader concerns about leadership succession, AI execution and rising component costs are adding to investor caution ahead of earnings. Apple Earnings Expected to Grow

Apple Company Profile

Apple Inc designs, develops and sells consumer electronics, software and digital services. Its best-known products include the iPhone smartphone, Mac personal computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and applications that support its hardware ecosystem.

Apple’s services business includes the App Store, Apple Music, Apple TV, Apple Arcade, iCloud, Apple Pay and other subscription, payment and digital-content offerings.