Jacksonville Wealth Management LLC Makes New Investment in Apple Inc. (NASDAQ:AAPL)

Jacksonville Wealth Management LLC purchased a new stake in Apple Inc. (NASDAQ:AAPL) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 18,348 shares of the iPhone maker’s stock, valued at approximately $4,595,000. Apple accounts for approximately 4.3% of Jacksonville Wealth Management LLC’s holdings, making the stock its 6th biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Bull Oak Capital LLC grew its holdings in Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares during the last quarter. Christopher J. Hasenberg Inc lifted its holdings in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares during the period. SPX Gestao de Recursos Ltda bought a new stake in shares of Apple in the 3rd quarter valued at about $71,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Apple in the third quarter valued at about $77,000. Finally, ARK Investment Management LLC bought a new position in shares of Apple during the third quarter worth about $110,000. 67.73% of the stock is owned by institutional investors.

Apple Price Performance

Apple stock opened at $214.00 on Tuesday. The firm’s fifty day moving average is $233.90 and its 200 day moving average is $233.71. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a 52-week low of $164.08 and a 52-week high of $260.10. The company has a market cap of $3.21 trillion, a price-to-earnings ratio of 33.97, a PEG ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.47%. Apple’s dividend payout ratio is currently 15.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AAPL shares. Wedbush restated an “outperform” rating and issued a $325.00 price target on shares of Apple in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Apple in a research note on Friday, January 31st. Loop Capital cut Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective for the company. in a research note on Tuesday, January 21st. Raymond James increased their target price on Apple to $250.00 and gave the stock a “buy” rating in a report on Monday, January 20th. Finally, TD Cowen restated a “buy” rating on shares of Apple in a research note on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $243.22.

Apple Company 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.