NovaPoint Capital LLC Purchases 363 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jul 14th, 2023

NovaPoint Capital LLC lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 17.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,419 shares of the financial services provider’s stock after purchasing an additional 363 shares during the quarter. NovaPoint Capital LLC’s holdings in JPMorgan Chase & Co. were worth $315,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Retirement Financial Solutions LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth $26,000. Adirondack Retirement Specialists Inc. boosted its holdings in JPMorgan Chase & Co. by 510.8% in the first quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 189 shares in the last quarter. Creative Capital Management Investments LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth $30,000. Boulder Wealth Advisors LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth $43,000. Finally, Capital Directions Investment Advisors LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth $44,000. 70.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Credit Suisse Group boosted their price target on JPMorgan Chase & Co. from $155.00 to $160.00 in a research note on Tuesday, April 18th. Piper Sandler boosted their price target on JPMorgan Chase & Co. from $147.00 to $151.00 and gave the stock an “overweight” rating in a research note on Monday, April 17th. BMO Capital Markets boosted their price target on JPMorgan Chase & Co. from $169.00 to $170.00 in a research note on Tuesday, May 2nd. Societe Generale cut JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research note on Monday. Finally, 888 restated a “maintains” rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 26th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $158.94.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $148.87 on Friday. The stock has a 50-day simple moving average of $140.27 and a two-hundred day simple moving average of $137.69. JPMorgan Chase & Co. has a 52-week low of $101.28 and a 52-week high of $149.87. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $435.04 billion, a PE ratio of 10.99, a P/E/G ratio of 2.05 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, beating 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 business had revenue of $38.35 billion during the quarter, compared to analyst estimates of $35.77 billion. During the same quarter in the previous year, the company posted $2.63 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 24.8% on a year-over-year basis. Analysts forecast that JPMorgan Chase & Co. will post 14.39 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Thursday, July 6th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.69%. The ex-dividend date is Wednesday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.52%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 1,240 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $135.02, for a total transaction of $167,424.80. Following the completion of the sale, the insider now owns 45,056 shares of the company’s stock, valued at $6,083,461.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Daniel E. Pinto sold 113,640 shares of the company’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $135.93, for a total value of $15,447,085.20. Following the completion of the transaction, the chief executive officer now owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Peter Scher sold 1,240 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $135.02, for a total value of $167,424.80. Following the completion of the transaction, the insider now directly owns 45,056 shares of the company’s stock, valued at approximately $6,083,461.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 145,861 shares of company stock valued at $19,858,275. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company Profile

(Free Report)

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.