Apple Inc. (NASDAQ:AAPL) is Reliant Investment Management LLC’s 2nd Largest Position

Reliant Investment Management LLC grew its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,787 shares of the iPhone maker’s stock after buying an additional 359 shares during the quarter. Apple accounts for 4.9% of Reliant Investment Management LLC’s portfolio, making the stock its 2nd largest position. Reliant Investment Management LLC’s holdings in Apple were worth $10,435,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Granite Investment Partners LLC raised its stake in Apple by 2.7% during the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after buying an additional 7,606 shares during the last quarter. Truist Financial Corp grew its holdings in shares of Apple by 1.8% in the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after acquiring an additional 126,210 shares during the period. EP Wealth Advisors LLC increased its position in Apple by 5.2% during the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock valued at $406,099,000 after acquiring an additional 95,235 shares during the last quarter. Bellwether Advisors LLC lifted its holdings in Apple by 387.3% in the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after acquiring an additional 19,352 shares during the period. Finally, GAMMA Investing LLC boosted its position in Apple by 34.9% in the third quarter. GAMMA Investing LLC now owns 200,214 shares of the iPhone maker’s stock worth $46,650,000 after purchasing an additional 51,842 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. This trade represents a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock valued at $92,007,745 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AAPL shares. Loop Capital lowered their price objective on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. New Street Research reiterated a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Wedbush reissued an “outperform” rating and set a $285.00 price objective on shares of Apple in a research report on Monday, September 9th. Evercore ISI reaffirmed a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Thursday, September 26th. Finally, Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and boosted their price target for the company from $205.00 to $212.92 in a report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.25.

Apple Stock Performance

AAPL stock opened at $232.87 on Tuesday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The firm has a market cap of $3.52 trillion, a price-to-earnings ratio of 38.30, a PEG ratio of 2.25 and a beta of 1.24. The business’s fifty day simple moving average is $228.06 and its two-hundred day simple moving average is $218.64. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.46 EPS. Analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.43%. Apple’s payout ratio is currently 16.45%.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.