Jacksonville Wealth Management LLC Takes $4.60 Million Position in Apple Inc. (NASDAQ:AAPL)

Jacksonville Wealth Management LLC purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,348 shares of the iPhone maker’s stock, valued at approximately $4,595,000. Apple accounts for about 4.3% of Jacksonville Wealth Management LLC’s portfolio, making the stock its 6th biggest holding.

Several other hedge funds have also added to or reduced their stakes in the company. Bull Oak Capital LLC boosted its stake in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares during the period. Christopher J. Hasenberg Inc lifted its holdings in shares of Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares in the last quarter. SPX Gestao de Recursos Ltda acquired a new position in shares of Apple during the third quarter worth about $71,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Apple during the third quarter worth about $77,000. Finally, ARK Investment Management LLC bought a new position in shares of Apple during the third quarter worth about $110,000. Institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $214.00 on Tuesday. The stock has a market capitalization of $3.21 trillion, a P/E ratio of 33.97, a P/E/G ratio of 2.44 and a beta of 1.18. The business has a 50-day moving average of $233.90 and a two-hundred day moving average of $233.71. Apple Inc. has a fifty-two week low of $164.08 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, equities research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio (DPR) is 15.87%.

Analyst Ratings Changes

A number of analysts recently issued reports on AAPL shares. Moffett Nathanson reaffirmed a “sell” rating and issued a $188.00 target price (down previously from $202.00) on shares of Apple in a research report on Tuesday, January 7th. UBS Group boosted their price target on Apple to $236.00 and gave the stock a “hold” rating in a research report on Tuesday, February 25th. The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research note on Wednesday, February 19th. Wedbush reissued an “outperform” rating and issued a $325.00 target price on shares of Apple in a research note on Friday. Finally, Redburn Partners set a $230.00 price target on shares of Apple in a research report on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $243.22.

About Apple

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.