Baxter Bros Inc. Lowers Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by on Apr 22nd, 2023

Baxter Bros Inc. lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,062 shares of the financial services provider’s stock after selling 1,140 shares during the period. JPMorgan Chase & Co. comprises approximately 2.3% of Baxter Bros Inc.’s investment portfolio, making the stock its 12th largest holding. Baxter Bros Inc.’s holdings in JPMorgan Chase & Co. were worth $14,089,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of JPM. Premier Asset Management LLC boosted its holdings in 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 acquiring an additional 77 shares during the period. Trellis Advisors LLC boosted its holdings in 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 acquiring an additional 79 shares during the period. Karpas Strategies LLC boosted its holdings in JPMorgan Chase & Co. by 0.4% during 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. boosted its holdings in JPMorgan Chase & Co. by 0.5% during 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. boosted its holdings in JPMorgan Chase & Co. by 1.7% during 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. Hedge funds and other institutional investors own 67.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on JPM shares. The Goldman Sachs Group raised their target price on JPMorgan Chase & Co. from $160.00 to $172.00 in a report on Friday, April 14th. Credit Suisse Group lifted their price objective on JPMorgan Chase & Co. from $155.00 to $160.00 in a research note on Tuesday. Piper Sandler lifted their price objective on JPMorgan Chase & Co. from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Monday, April 17th. UBS Group set a $156.00 price objective on JPMorgan Chase & Co. in a research note on Friday, January 13th. Finally, BMO Capital Markets lifted their price objective on JPMorgan Chase & Co. from $154.00 to $169.00 and gave the company a “market perform” rating in a research note on Monday, April 17th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $154.94.

JPMorgan Chase & Co. Trading Down 0.2 %

JPM opened at $140.54 on Friday. The firm has a market cap of $411.99 billion, a price-to-earnings ratio of 10.37, a price-to-earnings-growth ratio of 2.06 and a beta of 1.10. JPMorgan Chase & Co. has a 52 week low of $101.28 and a 52 week high of $144.34. The business’s 50 day moving average is $134.83 and its two-hundred day moving average is $132.09. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.07.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 EPS for the quarter, topping the consensus estimate of $3.41 by $0.69. The company had revenue of $38.35 billion for the quarter, compared to analyst estimates of $35.77 billion. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. The firm’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 earnings per share. On average, research analysts predict that JPMorgan Chase & Co. will post 13.76 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, April 30th. Shareholders 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 2.85%. The ex-dividend date of this dividend is Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 29.52%.

JPMorgan Chase & Co. Profile

(Get Rating)

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.

See Also

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).

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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.