Carderock Capital Management Inc. Sells 1,821 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Apr 3rd, 2023

Carderock Capital Management Inc. decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 8.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,871 shares of the financial services provider’s stock after selling 1,821 shares during the period. Carderock Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $2,665,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Retirement Financial Solutions LLC purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth approximately $26,000. Creative Capital Management Investments LLC bought a new stake in JPMorgan Chase & Co. in the 4th quarter worth $30,000. HBC Financial Services PLLC grew its holdings in JPMorgan Chase & Co. by 61.2% in the 2nd quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 90 shares during the last quarter. Horizons Wealth Management purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter worth approximately $39,000. Finally, New Millennium Group LLC bought a new position in JPMorgan Chase & Co. in the 2nd quarter worth $39,000. Institutional investors own 67.89% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.2 %

NYSE:JPM opened at $130.31 on Monday. The company’s 50 day moving average price is $136.94 and its 200-day moving average price is $130.26. JPMorgan Chase & Co. has a 52 week low of $101.28 and a 52 week high of $144.34. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.12. The stock has a market cap of $383.55 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 2.00 and a beta of 1.12.

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

JPMorgan Chase & Co. Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on JPM shares. Piper Sandler upped their price objective on shares of JPMorgan Chase & Co. from $150.00 to $157.00 in a report on Tuesday, January 17th. Credit Suisse Group set a $155.00 target price on JPMorgan Chase & Co. in a report on Monday, February 27th. Royal Bank of Canada reduced their target price on JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating on the stock in a report on Friday, March 24th. Deutsche Bank Aktiengesellschaft downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and reduced their target price for the stock from $155.00 to $145.00 in a report on Friday, January 6th. Finally, Oppenheimer dropped their target price on shares of JPMorgan Chase & Co. from $186.00 to $157.00 and set an “outperform” rating on the stock in a report on Thursday, March 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $149.28.

Insider Activity

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

JPMorgan Chase & Co. Profile

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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.