JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Banque Pictet & Cie SA

Posted by on May 3rd, 2023

Banque Pictet & Cie SA lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 132,705 shares of the financial services provider’s stock after selling 10,205 shares during the quarter. Banque Pictet & Cie SA’s holdings in JPMorgan Chase & Co. were worth $17,796,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Aptus Capital Advisors LLC raised its holdings in JPMorgan Chase & Co. by 11.3% in the third 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 raised its holdings in JPMorgan Chase & Co. by 2.7% in the third 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 raised its holdings in JPMorgan Chase & Co. by 12.4% in the third 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 holdings in JPMorgan Chase & Co. by 0.6% in the fourth quarter. Argus Investors Counsel Inc. now owns 24,284 shares of the financial services provider’s stock valued at $3,256,000 after acquiring an additional 149 shares in the last quarter. Finally, BerganKDV Wealth Management LLC raised its holdings in JPMorgan Chase & Co. by 6.1% in the third quarter. BerganKDV Wealth Management LLC now owns 35,995 shares of the financial services provider’s stock valued at $3,762,000 after acquiring an additional 2,079 shares in the last quarter. Institutional investors and hedge funds own 67.89% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $138.92 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.85 and a quick ratio of 0.84. The stock has a fifty day moving average price of $134.29 and a 200 day moving average price of $134.19. JPMorgan Chase & Co. has a 1-year low of $101.28 and a 1-year high of $144.34. The company has a market cap of $407.24 billion, a PE ratio of 10.25, a P/E/G ratio of 1.98 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $38.35 billion during the quarter, compared to the consensus estimate of $35.77 billion. During the same period last year, the company earned $2.63 earnings per share. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. Sell-side analysts forecast that JPMorgan Chase & Co. will post 14 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, April 30th. Shareholders of record on Thursday, April 6th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.52%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Citigroup raised their target price on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a report on Tuesday, January 17th. Credit Suisse Group increased their price target on shares of JPMorgan Chase & Co. from $155.00 to $160.00 in a research note on Tuesday, April 18th. Barclays dropped their price target on shares of JPMorgan Chase & Co. from $189.00 to $179.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 12th. Keefe, Bruyette & Woods increased 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, April 17th. Finally, StockNews.com began coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.00.

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.

Further Reading

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

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