JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Grandfield & Dodd LLC

Posted by Defense World Staff on Apr 3rd, 2023

Grandfield & Dodd LLC lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,464 shares of the financial services provider’s stock after selling 112 shares during the period. Grandfield & Dodd LLC’s holdings in JPMorgan Chase & Co. were worth $4,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Premier Asset Management LLC lifted its position in JPMorgan Chase & Co. by 1.7% in the third quarter. Premier Asset Management LLC now owns 4,635 shares of the financial services provider’s stock valued at $484,000 after acquiring an additional 77 shares during the last quarter. Trellis Advisors LLC increased its stake in JPMorgan Chase & Co. by 2.8% in the third quarter. Trellis Advisors LLC now owns 2,897 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 79 shares during the period. Karpas Strategies LLC increased its stake in JPMorgan Chase & Co. by 0.4% in the third quarter. Karpas Strategies LLC now owns 21,537 shares of the financial services provider’s stock valued at $2,251,000 after purchasing an additional 80 shares during the period. Wulff Hansen & CO. increased its stake in shares of JPMorgan Chase & Co. by 0.5% during the third quarter. Wulff Hansen & CO. now owns 14,665 shares of the financial services provider’s stock worth $1,532,000 after acquiring an additional 80 shares during the period. Finally, LVZ Inc. increased its stake in shares of JPMorgan Chase & Co. by 1.7% during the fourth quarter. LVZ Inc. now owns 4,746 shares of the financial services provider’s stock worth $636,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 67.89% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $130.31 on Monday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $383.55 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 2.00 and a beta of 1.12. The company’s 50 day simple moving average is $136.94 and its 200 day simple moving average is $130.26. JPMorgan Chase & Co. has a 1 year low of $101.28 and a 1 year high of $144.34.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings data on Friday, January 13th. The financial services provider reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.46. The business had revenue of $34.55 billion for the quarter, compared to the consensus estimate of $34.23 billion. JPMorgan Chase & Co. had a net margin of 24.34% and a return on equity of 14.68%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.33 earnings per share. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 12.9 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 30th. Investors of record on Thursday, April 6th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 33.11%.

Wall Street Analyst Weigh In

JPM has been the topic of a number of recent analyst reports. Royal Bank of Canada dropped their price target on shares of JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating on the stock in a research note on Friday, March 24th. Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $150.00 to $157.00 in a report on Tuesday, January 17th. StockNews.com initiated coverage on shares of JPMorgan Chase & Co. in a report on Thursday, March 16th. They set a “hold” rating on the stock. Barclays boosted their price objective on shares of JPMorgan Chase & Co. from $162.00 to $189.00 and gave the stock an “overweight” rating in a report on Tuesday, January 3rd. Finally, Credit Suisse Group set a $155.00 price objective on shares of JPMorgan Chase & Co. in a report on Monday, February 27th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $149.28.

Insiders Place Their Bets

In related news, Director Mellody L. Hobson purchased 375 shares of the business’s stock in a transaction on Thursday, January 19th. The shares were bought at an average price of $134.53 per share, with a total value of $50,448.75. Following the completion of the purchase, the director now directly owns 22,040 shares in the company, valued at approximately $2,965,041.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 4,399 shares of the stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $140.32, for a total transaction of $617,267.68. Following the transaction, the insider now owns 36,369 shares of the company’s stock, valued at $5,103,298.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mellody L. Hobson purchased 375 shares of the business’s stock in a transaction on Thursday, January 19th. The shares were bought at an average cost of $134.53 per share, for a total transaction of $50,448.75. Following the purchase, the director now owns 22,040 shares of the company’s stock, valued at $2,965,041.20. The disclosure for this purchase can be found here. Insiders have sold a total of 37,887 shares of company stock valued at $5,315,762 over the last quarter. Company insiders own 0.79% of the company’s stock.

About JPMorgan Chase & Co.

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JPMorgan Chase & Co is a financial holding company, which engages in providing financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.