Reliant Investment Management LLC Buys 43,702 Shares of Apple Inc. $AAPL

Reliant Investment Management LLC purchased a new position in shares of Apple Inc. (NASDAQ:AAPL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 43,702 shares of the iPhone maker’s stock, valued at approximately $14,554,000. Apple makes up approximately 5.0% of Reliant Investment Management LLC’s holdings, making the stock its 6th biggest holding.

Several other institutional investors have also recently made changes to their positions in AAPL. Avenir Tech Ltd bought a new stake in shares of Apple in the 2nd quarter valued at about $29,000. Longfellow Investment Management Co. LLC purchased a new position in shares of Apple in the 2nd quarter worth approximately $30,000. ABS Investment Management LLC bought a new position in shares of Apple during the 2nd quarter worth approximately $376,168,000. Bamco Inc. NY bought a new position in shares of Apple during the 2nd quarter worth approximately $118,000. Finally, Bard Associates Inc. bought a new position in shares of Apple during the 2nd quarter worth approximately $161,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

In related news, SVP Deirdre O’brien sold 46,389 shares of the company’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $333.42, for a total value of $15,467,020.38. Following the transaction, the senior vice president directly owned 136,810 shares of the company’s stock, valued at $45,615,190.20. This represents a 25.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 2,399 shares of the firm’s stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $336.18, for a total value of $806,495.82. Following the completion of the transaction, the senior vice president owned 41,992 shares of the company’s stock, valued at $14,116,870.56. This trade represents a 5.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 286,853 shares of company stock valued at $95,477,342 in the last quarter. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of a number of analyst reports. Citic Securities increased their target price on shares of Apple from $300.00 to $349.00 in a research report on Thursday, August 6th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $350.00 price target (up from $310.00) on shares of Apple in a report on Friday, July 31st. Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and reduced their price target for the stock from $370.00 to $330.00 in a research report on Tuesday, October 20th. Oppenheimer reiterated a “market perform” rating on shares of Apple in a report on Thursday, September 10th. Finally, UBS Group reissued a “neutral” rating on shares of Apple in a research report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $340.12.

Apple Stock Down 1.1%

AAPL stock opened at $343.91 on Tuesday. The firm has a 50 day moving average of $329.47 and a 200 day moving average of $294.25. The stock has a market capitalization of $5.02 trillion, a PE ratio of 39.44, a price-to-earnings-growth ratio of 2.75 and a beta of 1.07. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Apple Inc. has a 52 week low of $243.42 and a 52 week high of $351.73.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.13. The business 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 business’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the company posted $1.57 earnings per share. Sell-side analysts forecast that Apple Inc. will post 8.75 earnings per share for the current year.

Apple Dividend Announcement

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

Key Stories 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

About Apple

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.