JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 5.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,728 shares of the financial services provider’s stock after selling 624 shares during the quarter. Sierra Summit Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $2,372,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in JPM. Wellington Wealth Strategies LLC. acquired a new stake in JPMorgan Chase & Co. in the 4th quarter worth approximately $1,145,000. Cooper Financial Group raised its holdings in shares of JPMorgan Chase & Co. by 12.8% in the first quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock worth $1,741,000 after buying an additional 984 shares during the last quarter. Spartan Planning & Wealth Management lifted its stake in shares of JPMorgan Chase & Co. by 257.3% during the fourth quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock worth $643,000 after buying an additional 2,722 shares during the period. jvl associates llc grew its holdings in shares of JPMorgan Chase & Co. by 59.8% during the first quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock valued at $383,000 after buying an additional 715 shares during the last quarter. Finally, MMA Asset Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $207,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

JPM has been the topic of several research analyst reports. Citigroup boosted their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. BMO Capital Markets lifted their target price on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Evercore ISI increased their price target on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Eight equities 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, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus price target of $211.06.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $210.98 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.48. The stock’s 50-day moving average price is $211.61 and its 200-day moving average price is $201.64. The stock has a market capitalization of $605.86 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 2.33 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same period last year, the company earned $4.37 earnings per share. As a group, equities analysts expect that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a yield of 2.37%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.66%.

JPMorgan Chase & Co. Profile

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; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.