Jmac Enterprises LLC Has $8.80 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Jmac Enterprises LLC grew its stake in Apple Inc. (NASDAQ:AAPL) by 1.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 45,716 shares of the iPhone maker’s stock after acquiring an additional 566 shares during the period. Apple accounts for approximately 1.9% of Jmac Enterprises LLC’s investment portfolio, making the stock its 10th biggest holding. Jmac Enterprises LLC’s holdings in Apple were worth $8,802,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AAPL. Impact Partnership Wealth LLC grew its position in shares of Apple by 364.1% in the third quarter. Impact Partnership Wealth LLC now owns 42,903 shares of the iPhone maker’s stock valued at $7,345,000 after purchasing an additional 33,659 shares during the last quarter. Elevated Capital Advisors LLC boosted its stake in Apple by 1.0% in the 3rd quarter. Elevated Capital Advisors LLC now owns 31,111 shares of the iPhone maker’s stock valued at $5,326,000 after purchasing an additional 320 shares during the period. Kirr Marbach & Co. LLC IN acquired a new position in Apple in the 3rd quarter valued at $265,000. Atlas Brown Inc. increased its position in Apple by 0.4% during the 3rd quarter. Atlas Brown Inc. now owns 75,888 shares of the iPhone maker’s stock worth $12,993,000 after buying an additional 314 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in shares of Apple by 49.7% during the third quarter. Fifth Third Wealth Advisors LLC now owns 62,955 shares of the iPhone maker’s stock worth $10,779,000 after buying an additional 20,911 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of a number of recent research reports. Barclays raised their price target on shares of Apple from $158.00 to $164.00 and gave the stock an “underweight” rating in a research report on Friday. Piper Sandler lowered their target price on shares of Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a report on Friday, February 2nd. Morgan Stanley boosted their price target on Apple from $210.00 to $216.00 and gave the company an “overweight” rating in a research note on Friday. Canaccord Genuity Group raised their price objective on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Itau BBA Securities upgraded Apple from an “underperform” rating to a “market perform” rating and upped their target price for the company from $162.00 to $188.00 in a research report on Friday. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $204.11.

Insiders Place Their Bets

In other news, COO Jeffrey E. Williams sold 59,162 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $172.22, for a total value of $10,188,879.64. Following the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at approximately $84,378,155.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Apple news, COO Jeffrey E. Williams sold 59,162 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $84,378,155.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arthur D. Levinson sold 100,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 366,271 shares of company stock worth $63,653,887. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $183.38 on Monday. The firm has a market cap of $2.83 trillion, a PE ratio of 28.52, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $199.62. The firm’s fifty day moving average is $172.17 and its 200-day moving average is $181.67. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. Apple had a return on equity of 153.25% and a net margin of 26.31%. The business’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.52 EPS. Sell-side analysts predict that Apple Inc. will post 6.54 earnings per share for the current year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Friday, May 10th. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio is currently 14.93%.

Apple declared that its board has initiated a share repurchase program on Thursday, May 2nd that allows the company to buyback $110.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.