Objective Capital Management LLC Acquires 80 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jun 17th, 2023

Objective Capital Management LLC increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,244 shares of the financial services provider’s stock after acquiring an additional 80 shares during the period. Objective Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $971,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Moneta Group Investment Advisors LLC raised its holdings in JPMorgan Chase & Co. by 105,652.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock worth $13,141,876,000 after buying an additional 97,907,897 shares during the last quarter. Norges Bank purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth about $3,894,646,000. Price T Rowe Associates Inc. MD raised its holdings in JPMorgan Chase & Co. by 71.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,484,094 shares of the financial services provider’s stock worth $4,087,917,000 after buying an additional 12,654,947 shares during the last quarter. Morgan Stanley raised its holdings in JPMorgan Chase & Co. by 15.9% in the fourth quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after buying an additional 8,088,433 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth about $556,791,000. Institutional investors own 67.89% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.1 %

Shares of JPM stock opened at $143.26 on Friday. JPMorgan Chase & Co. has a 12 month low of $101.28 and a 12 month high of $144.34. The stock has a market cap of $418.65 billion, a P/E ratio of 10.57, a P/E/G ratio of 1.97 and a beta of 1.10. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a 50 day simple moving average of $137.63 and a two-hundred day simple moving average of $136.26.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last posted its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.69. The business had revenue of $38.35 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business posted $2.63 earnings per share. On average, research analysts expect that JPMorgan Chase & Co. will post 14.36 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Thursday, July 6th will be given a $1.00 dividend. The ex-dividend date is Wednesday, July 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.79%. JPMorgan Chase & Co.’s payout ratio is currently 29.52%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CEO Douglas B. Petno sold 4,930 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $142.16, for a total value of $700,848.80. Following the completion of the transaction, the chief executive officer now directly owns 277,161 shares in the company, valued at $39,401,207.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Daniel E. Pinto sold 113,640 shares of the company’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $135.93, for a total transaction of $15,447,085.20. Following the completion of the transaction, the chief executive officer now owns 566,665 shares in the company, valued at $77,026,773.45. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas B. Petno sold 4,930 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $142.16, for a total transaction of $700,848.80. Following the transaction, the chief executive officer now owns 277,161 shares of the company’s stock, valued at approximately $39,401,207.76. The disclosure for this sale can be found here. Insiders sold a total of 145,861 shares of company stock worth $19,858,275 over the last three months. 0.79% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of JPMorgan Chase & Co. from $157.00 to $160.00 in a report on Tuesday, May 23rd. Royal Bank of Canada decreased their target price on shares of JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating for the company in a report on Friday, March 24th. Evercore ISI decreased their price objective on shares of JPMorgan Chase & Co. from $155.00 to $151.00 in a report on Friday, May 12th. Barclays decreased their price objective on shares of JPMorgan Chase & Co. from $189.00 to $179.00 and set an “overweight” rating for the company in a report on Wednesday, April 12th. Finally, 92 Resources reissued a “maintains” rating on shares of JPMorgan Chase & Co. in a report on Friday, May 12th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average target price of $157.65.

About JPMorgan Chase & Co.

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JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.