JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Wittenberg Investment Management Inc.

Posted by on May 2nd, 2023

Wittenberg Investment Management Inc. cut its holdings in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 0.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 47,957 shares of the financial services provider’s stock after selling 225 shares during the quarter. JPMorgan Chase & Co. comprises 2.6% of Wittenberg Investment Management Inc.’s holdings, making the stock its 7th biggest position. Wittenberg Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $6,431,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of JPM. Aptus Capital Advisors LLC lifted its stake in JPMorgan Chase & Co. by 11.3% in the 3rd quarter. Aptus Capital Advisors LLC now owns 153,622 shares of the financial services provider’s stock valued at $16,054,000 after acquiring an additional 15,607 shares in the last quarter. Leisure Capital Management lifted its stake in JPMorgan Chase & Co. by 2.7% in the 3rd quarter. Leisure Capital Management now owns 22,736 shares of the financial services provider’s stock valued at $2,376,000 after acquiring an additional 600 shares in the last quarter. Ballentine Partners LLC lifted its stake in JPMorgan Chase & Co. by 12.4% in the 3rd quarter. Ballentine Partners LLC now owns 51,929 shares of the financial services provider’s stock valued at $5,427,000 after acquiring an additional 5,719 shares in the last quarter. Argus Investors Counsel Inc. raised its stake in shares of JPMorgan Chase & Co. by 0.6% during the 4th quarter. Argus Investors Counsel Inc. now owns 24,284 shares of the financial services provider’s stock worth $3,256,000 after purchasing an additional 149 shares in the last quarter. Finally, BerganKDV Wealth Management LLC raised its stake in shares of JPMorgan Chase & Co. by 6.1% during the 3rd quarter. BerganKDV Wealth Management LLC now owns 35,995 shares of the financial services provider’s stock worth $3,762,000 after purchasing an additional 2,079 shares in the last quarter. 67.89% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Up 2.1 %

Shares of NYSE:JPM opened at $141.20 on Tuesday. The stock has a market cap of $413.92 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 1.98 and a beta of 1.10. 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. has a 12-month low of $101.28 and a 12-month high of $144.34. The business’s 50 day moving average is $134.31 and its 200 day moving average is $133.99.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.69. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. The business had revenue of $38.35 billion for the quarter, compared to analyst estimates of $35.77 billion. During the same period last year, the company posted $2.63 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 14 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 30th. Shareholders of record on Thursday, April 6th were given a $1.00 dividend. The ex-dividend date was Wednesday, April 5th. This represents a $4.00 annualized dividend and a yield of 2.83%. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.52%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets upped their price objective on JPMorgan Chase & Co. from $154.00 to $169.00 and gave the stock a “market perform” rating in a research note on Monday, April 17th. Bank of America upped their price objective on JPMorgan Chase & Co. from $152.00 to $158.00 and gave the company a “buy” rating in a report on Monday, April 17th. Odeon Capital Group raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Monday. Citigroup upped their price objective on JPMorgan Chase & Co. from $150.00 to $165.00 in a report on Tuesday, January 17th. Finally, Evercore ISI decreased their price objective on JPMorgan Chase & Co. from $157.00 to $146.00 and set an “outperform” rating on the stock in a report on Wednesday, April 5th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $154.94.

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.

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

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