Cabot Wealth Management Inc. trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,710 shares of the financial services provider’s stock after selling 7,571 shares during the period. JPMorgan Chase & Co. comprises about 2.5% of Cabot Wealth Management Inc.’s portfolio, making the stock its 7th largest position. Cabot Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $14,578,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JPM. Premier Asset Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 1.7% during the 3rd quarter. Premier Asset Management LLC now owns 4,635 shares of the financial services provider’s stock valued at $484,000 after purchasing an additional 77 shares in the last quarter. Trellis Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 2.8% during the 3rd 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 in the last quarter. Karpas Strategies LLC grew its stake in JPMorgan Chase & Co. by 0.4% in the 3rd quarter. Karpas Strategies LLC now owns 21,537 shares of the financial services provider’s stock valued at $2,251,000 after acquiring an additional 80 shares during the period. Wulff Hansen & CO. grew its stake in JPMorgan Chase & Co. by 0.5% in the 3rd quarter. Wulff Hansen & CO. now owns 14,665 shares of the financial services provider’s stock valued at $1,532,000 after acquiring an additional 80 shares during the period. Finally, LVZ Inc. grew its stake in JPMorgan Chase & Co. by 1.7% in the 4th quarter. LVZ Inc. now owns 4,746 shares of the financial services provider’s stock valued at $636,000 after acquiring an additional 80 shares during the period. 67.89% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on JPM shares. Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday. Keefe, Bruyette & Woods lifted their price target on shares of JPMorgan Chase & Co. from $131.00 to $155.00 and gave the company a “market perform” rating in a research note on Monday. BMO Capital Markets lifted their price target on shares of JPMorgan Chase & Co. from $154.00 to $169.00 and gave the company a “market perform” rating in a research note on Monday. Bank of America lifted their price target on shares of JPMorgan Chase & Co. from $152.00 to $158.00 and gave the company a “buy” rating in a research note on Monday. Finally, Oppenheimer lifted their target price on shares of JPMorgan Chase & Co. from $157.00 to $192.00 and gave the stock an “outperformer” rating in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $154.94.
JPMorgan Chase & Co. Trading Down 0.1 %
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.69. The firm had revenue of $38.35 billion for the quarter, compared to analysts’ expectations of $35.77 billion. JPMorgan Chase & Co. had a net margin of 23.73% and a return on equity of 16.02%. The company’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.63 EPS. As a group, equities analysts predict that JPMorgan Chase & Co. will post 13.13 earnings per share for the current year.
JPMorgan Chase & Co. Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 30th. Investors of record on Thursday, April 6th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, April 5th. This represents a $4.00 annualized dividend and a yield of 2.83%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.52%.
JPMorgan Chase & Co. Company Profile
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.
Read More
- Get a free copy of the StockNews.com research report on JPMorgan Chase & Co. (JPM)
- ASML Reports Massive Growth, Management Points To Sluggish 2023
- Will Analyst Boost Send Lockheed Martin Shares Up, Up and Away?
- Mullen Automotive: Is The Bloom Off The Rose?
- Diversified Abbott Laboratories Could Reverse And Move Higher
- Okta Reversal In Progress While Catalysts Approach
Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM – Get Rating).
Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.
