Howard Wealth Management LLC Acquires 75 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Aug 5th, 2023

Howard Wealth Management LLC boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,062 shares of the financial services provider’s stock after purchasing an additional 75 shares during the quarter. Howard Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $399,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Adirondack Retirement Specialists Inc. lifted its position in shares of JPMorgan Chase & Co. by 510.8% in the 1st 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 during the period. Boulder Wealth Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $43,000. Capital Directions Investment Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $44,000. VitalStone Financial LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $58,000. Finally, Freedom Wealth Alliance LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $60,000. Institutional investors own 70.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. StockNews.com assumed coverage on JPMorgan Chase & Co. in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Morgan Stanley raised their target price on JPMorgan Chase & Co. from $160.00 to $173.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 18th. Credit Suisse Group raised their target price on JPMorgan Chase & Co. from $160.00 to $170.00 in a research report on Monday, July 17th. Jefferies Financial Group upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised their target price for the stock from $149.00 to $165.00 in a research report on Tuesday, July 11th. Finally, Piper Sandler raised their price target on JPMorgan Chase & Co. from $158.00 to $168.00 in a report on Monday, July 17th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus price target of $164.39.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CEO Douglas B. Petno sold 4,930 shares of JPMorgan Chase & Co. stock in a transaction dated 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 directly owns 277,161 shares in the company, valued at $39,401,207.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other JPMorgan Chase & Co. news, CEO Douglas B. Petno sold 4,930 shares of JPMorgan Chase & Co. stock in a transaction dated 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 directly owns 277,161 shares in the company, valued at $39,401,207.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Daniel E. Pinto sold 113,640 shares of JPMorgan Chase & Co. 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 transaction, the chief executive officer now owns 566,665 shares in the company, valued at $77,026,773.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 145,861 shares of company stock worth $19,858,275. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.2 %

Shares of JPMorgan Chase & Co. stock opened at $156.02 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.90 and a debt-to-equity ratio of 1.28. JPMorgan Chase & Co. has a 12 month low of $101.28 and a 12 month high of $159.38. The business has a fifty day simple moving average of $146.36 and a 200 day simple moving average of $139.83. The stock has a market cap of $455.94 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 2.04 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $3.62 by $0.75. JPMorgan Chase & Co. had a return on equity of 17.29% and a net margin of 23.45%. The business had revenue of $42.40 billion during the quarter, compared to analysts’ expectations of $38.66 billion. During the same period in the previous year, the firm earned $2.76 earnings per share. The firm’s quarterly revenue was up 34.1% compared to the same quarter last year. Research analysts predict that JPMorgan Chase & Co. will post 15.23 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Thursday, July 6th were issued a dividend of $1.00 per share. The ex-dividend date was Wednesday, July 5th. This represents a $4.00 annualized dividend and a yield of 2.56%. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.74%.

About JPMorgan Chase & Co.

(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.