Abbot Financial Management Inc. Sells 386 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Abbot Financial Management Inc. reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,934 shares of the financial services provider’s stock after selling 386 shares during the quarter. JPMorgan Chase & Co. accounts for 3.4% of Abbot Financial Management Inc.’s portfolio, making the stock its 5th largest position. Abbot Financial Management Inc.’s holdings in JPMorgan Chase & Co. were worth $6,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in JPM. Perennial Investment Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 4.5% during the 2nd quarter. Perennial Investment Advisors LLC now owns 9,471 shares of the financial services provider’s stock worth $1,916,000 after purchasing an additional 406 shares in the last quarter. Pitti Group Wealth Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 2.2% during the second quarter. Pitti Group Wealth Management LLC now owns 2,837 shares of the financial services provider’s stock worth $574,000 after buying an additional 60 shares in the last quarter. Clearstead Trust LLC increased its holdings in shares of JPMorgan Chase & Co. by 1.8% during the second quarter. Clearstead Trust LLC now owns 29,159 shares of the financial services provider’s stock worth $5,898,000 after buying an additional 502 shares in the last quarter. Tower Wealth Partners Inc. raised its stake in shares of JPMorgan Chase & Co. by 21.2% in the second quarter. Tower Wealth Partners Inc. now owns 2,142 shares of the financial services provider’s stock valued at $433,000 after acquiring an additional 375 shares during the last quarter. Finally, Virtu Financial LLC boosted its holdings in shares of JPMorgan Chase & Co. by 89.5% in the 2nd quarter. Virtu Financial LLC now owns 5,640 shares of the financial services provider’s stock worth $1,141,000 after acquiring an additional 2,664 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Up 0.3 %

JPMorgan Chase & Co. stock opened at $211.09 on Friday. The firm has a market capitalization of $606.18 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 2.33 and a beta of 1.12. The company’s 50 day simple moving average is $211.61 and its 200 day simple moving average is $201.73. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. During the same period last year, the firm posted $4.37 earnings per share. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.78 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on JPM shares. Morgan Stanley cut their price objective on JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. BMO Capital Markets raised their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Citigroup upped their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Finally, Barclays raised their price target on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average target price of $211.06.

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.