Wealth Alliance Buys New Stake in Jabil Inc. (NYSE:JBL)

Wealth Alliance bought a new stake in shares of Jabil Inc. (NYSE:JBL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,579 shares of the technology company’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of JBL. JPMorgan Chase & Co. lifted its position in Jabil by 71.2% during the first quarter. JPMorgan Chase & Co. now owns 6,232,495 shares of the technology company’s stock valued at $549,457,000 after acquiring an additional 2,591,893 shares during the last quarter. Norges Bank purchased a new stake in Jabil during the fourth quarter valued at approximately $102,656,000. FMR LLC increased its stake in Jabil by 15.9% during the 3rd quarter. FMR LLC now owns 10,525,084 shares of the technology company’s stock valued at $1,335,528,000 after purchasing an additional 1,440,857 shares in the last quarter. Invesco Ltd. increased its stake in Jabil by 230.6% during the 1st quarter. Invesco Ltd. now owns 1,863,230 shares of the technology company’s stock valued at $115,018,000 after purchasing an additional 1,299,593 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Jabil by 1,610.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,198,451 shares of the technology company’s stock valued at $6,215,000 after purchasing an additional 1,128,393 shares in the last quarter. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Insider Transactions at Jabil

In other news, CEO Kenneth S. Wilson sold 15,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $134.20, for a total value of $2,013,000.00. Following the transaction, the chief executive officer now directly owns 339,725 shares of the company’s stock, valued at $45,591,095. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Jabil news, CEO Kenneth S. Wilson sold 15,000 shares of Jabil stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $134.20, for a total transaction of $2,013,000.00. Following the transaction, the chief executive officer now directly owns 339,725 shares of the company’s stock, valued at $45,591,095. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gerald Creadon sold 3,000 shares of Jabil stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $135.62, for a total transaction of $406,860.00. Following the transaction, the executive vice president now directly owns 65,434 shares in the company, valued at $8,874,159.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 107,177 shares of company stock valued at $13,678,039. Corporate insiders own 2.62% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. StockNews.com lowered shares of Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Argus lowered shares of Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. The Goldman Sachs Group upped their price target on shares of Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Finally, Barclays cut their price target on shares of Jabil from $151.00 to $149.00 and set an “overweight” rating on the stock in a research note on Monday, March 18th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $144.50.

Jabil Stock Performance

JBL opened at $118.75 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 1.08. The company has a market cap of $14.32 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 1.38 and a beta of 1.40. Jabil Inc. has a 52-week low of $75.48 and a 52-week high of $156.94. The firm’s fifty day simple moving average is $138.03 and its two-hundred day simple moving average is $131.12.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Friday, March 15th. The technology company reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.01). The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.91 billion. Jabil had a net margin of 4.70% and a return on equity of 39.47%. Equities analysts anticipate that Jabil Inc. will post 7.83 earnings per share for the current fiscal year.

Jabil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 15th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend is Tuesday, May 14th. Jabil’s dividend payout ratio is currently 2.75%.

Jabil Company Profile

Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; electronic circuit design services, such as application-specific integrated circuit design, firmware development, and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA).