20,173 Shares in Apple Inc. $AAPL Purchased by Reliant Investment Partners LLC

Key Points

• Reliant Investment Partners LLC purchased 20,173 Apple shares worth approximately $5.84 million during the second quarter, making Apple its fifth-largest holding at 4% of the portfolio.
• Institutional investors own 67.73% of Apple, with Vanguard, Nuveen, Amundi, Fisher Asset Management and Dimensional Fund Advisors among the funds increasing their positions.
• Analysts maintain a generally positive outlook, with Apple carrying a “Moderate Buy” consensus rating and a $340.14 average price target. The company also exceeded quarterly earnings and revenue estimates, while an Apple senior vice president sold shares to cover tax obligations.

Reliant Investment Partners LLC purchased a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 20,173 shares of the iPhone maker's stock, valued at approximately $5,837,000. Apple makes up 4.0% of Reliant Investment Partners LLC's holdings, making the stock its 5th largest holding.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Apple by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock valued at $387,749,545,000 after purchasing an additional 26,856,752 shares in the last quarter. Nuveen LLC boosted its stake in Apple by 3.8% in the fourth quarter. Nuveen LLC now owns 75,000,920 shares of the iPhone maker's stock worth $20,389,750,000 after purchasing an additional 2,725,121 shares in the last quarter. Amundi grew its holdings in shares of Apple by 23.2% during the first quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock worth $18,547,637,000 after purchasing an additional 13,780,080 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Apple by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 55,146,752 shares of the iPhone maker's stock worth $14,992,196,000 after purchasing an additional 704,293 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Apple by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 58,554,032 shares of the iPhone maker's stock valued at $14,858,200,000 after buying an additional 979,832 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Activity at Apple

In other Apple news, SVP Jennifer Newstead sold 1,438 shares of Apple stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $330.19, for a total value of $474,813.22. Following the sale, the senior vice president directly owned 32,914 shares in the company, valued at approximately $10,867,873.66. The trade was a 4.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 8,632 shares of company stock valued at $2,719,955 over the last 90 days. Insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AAPL. Morgan Stanley reaffirmed an "overweight" rating and issued a $360.00 target price on shares of Apple in a research note on Wednesday, September 2nd. Jefferies Financial Group reissued an "underperform" rating on shares of Apple in a report on Wednesday, September 9th. Argus boosted their price objective on shares of Apple from $325.00 to $375.00 in a research report on Monday, June 8th. BTIG Research initiated coverage on shares of Apple in a research report on Monday, August 17th. They issued a "neutral" rating for the company. Finally, Barclays reiterated an "underweight" rating and issued a $245.00 price objective (down from $253.00) on shares of Apple in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $340.14.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Evercore ISI raised its Apple price target to $380 from $365 and maintained an outperform view. A survey of roughly 4,000 consumers indicated a potentially stronger-than-expected iPhone upgrade cycle and a higher average selling price. iPhone 18 Pro Hits Stores Today
• Positive Sentiment: iPhone 18 Pro sales are supported by carrier trade-in promotions. Bank of America said incentives can offset the $100 price increase, reducing the risk that higher prices will weaken demand. Apple’s iPhone 18 Lineup Keeps Bank of America Bullish
• Positive Sentiment: Apple’s ecosystem is gaining additional reach. General Motors plans to restore Apple CarPlay after consumer backlash, while Apple is reportedly preparing an Apple Pay launch in India with Axis Bank. These developments could support services engagement and ecosystem adoption. GM Is Re-downloading Apple CarPlay
• Neutral Sentiment: Initial iPhone 18 Pro demand indicators are mixed. Quick-commerce shortages in India suggest strong localized demand, but UBS cited muted wait times in several major markets. Investors are also assessing whether customers may delay purchases for Apple’s roughly $1,999 foldable iPhone Duo. Apple iPhone 18 Seeing Muted Initial Wait Times
• Negative Sentiment: Risks include premium pricing, valuation and regulatory pressure. Analysts warn that expensive devices could limit adoption in price-sensitive markets such as India. More than 1,600 Italian Apple store employees also struck on launch day, while Apple continues to challenge a potential UK encryption backdoor order and faces European legal scrutiny. Italian Apple Store Employees Strike

Apple Price Performance

Apple stock opened at $336.13 on Monday. The firm has a market capitalization of $4.91 trillion, a price-to-earnings ratio of 38.55, a PEG ratio of 2.92 and a beta of 1.08. The company's 50 day simple moving average is $320.24 and its 200 day simple moving average is $294.90. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. Apple Inc. has a fifty-two week low of $240.21 and a fifty-two week high of $344.57.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The firm had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. During the same period in the previous year, the company posted $1.57 earnings per share. The company's revenue for the quarter was up 16.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Apple Inc. will post 8.74 EPS for the current year.

Apple Dividend Announcement

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

Apple Profile

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its principal products include the iPhone, Mac computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and applications that support its hardware products.

Apple's services business includes the App Store, Apple Music, Apple TV, Apple Arcade, Apple Fitness+, Apple News+, Apple Pay and iCloud. These services provide digital content, payments, cloud storage and subscription offerings across the company's ecosystem of devices.

Founded in 1976, Apple is headquartered in Cupertino, California, and serves consumers, businesses, educational institutions and government customers worldwide.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.