Alpha Cubed Investments LLC Has $30.92 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Apr 9th, 2023

Alpha Cubed Investments LLC lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 29.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 230,544 shares of the financial services provider’s stock after selling 96,587 shares during the quarter. JPMorgan Chase & Co. comprises 2.3% of Alpha Cubed Investments LLC’s portfolio, making the stock its 7th biggest holding. Alpha Cubed Investments LLC’s holdings in JPMorgan Chase & Co. were worth $30,916,000 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 bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $26,000. HBC Financial Services PLLC grew its stake in JPMorgan Chase & Co. by 61.2% during the second quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 90 shares in the last quarter. Creative Capital Management Investments LLC bought a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $30,000. Horizons Wealth Management purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter worth $39,000. Finally, New Millennium Group LLC bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter valued at about $39,000. 67.89% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Down 0.1 %

JPM opened at $127.47 on Friday. 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 stock’s 50 day moving average price is $135.86 and its 200-day moving average price is $130.56. JPMorgan Chase & Co. has a one year low of $101.28 and a one year high of $144.34. The stock has a market cap of $373.67 billion, a price-to-earnings ratio of 10.55, a P/E/G ratio of 1.99 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings data on Friday, January 13th. The financial services provider reported $3.57 EPS for the quarter, beating the consensus estimate of $3.11 by $0.46. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. The company had revenue of $34.55 billion for the quarter, compared to the consensus estimate of $34.23 billion. During the same quarter in the prior year, the company posted $3.33 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 18.1% on a year-over-year basis. On average, equities analysts forecast that JPMorgan Chase & Co. will post 12.82 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 paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.14%. The ex-dividend date is Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio is presently 33.11%.

Insider Activity at JPMorgan Chase & Co.

In related news, Director Mellody L. Hobson bought 375 shares of the company’s stock in a transaction on Thursday, January 19th. The shares were acquired at an average cost of $134.53 per share, for a total transaction of $50,448.75. Following the purchase, the director now directly owns 22,040 shares of the company’s stock, valued at $2,965,041.20. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Mellody L. Hobson purchased 375 shares of the stock in a transaction that occurred on Thursday, January 19th. The stock was purchased at an average price of $134.53 per share, for a total transaction of $50,448.75. Following the completion of the acquisition, the director now owns 22,040 shares of the company’s stock, valued at $2,965,041.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Peter Scher sold 4,399 shares of the firm’s 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 transaction, the insider now owns 36,369 shares in the company, valued at $5,103,298.08. The disclosure for this sale can be found here. Insiders sold 37,887 shares of company stock worth $5,315,762 in the last 90 days. 0.79% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut 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. Morgan Stanley decreased their price objective on JPMorgan Chase & Co. from $173.00 to $153.00 and set an “overweight” rating on the stock in a report on Wednesday. UBS Group set a $156.00 target price on shares of JPMorgan Chase & Co. in a report on Friday, January 13th. Evercore ISI reduced their price target on shares of JPMorgan Chase & Co. from $157.00 to $146.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Barclays increased their price objective on shares of JPMorgan Chase & Co. from $162.00 to $189.00 and gave the company an “overweight” rating in a research report on Tuesday, January 3rd. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $149.33.

JPMorgan Chase & Co. Company 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.