Cabot Wealth Management Inc. Has $22.22 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Cabot Wealth Management Inc. lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 92,697 shares of the financial services provider’s stock after selling 3,838 shares during the period. JPMorgan Chase & Co. comprises about 2.8% of Cabot Wealth Management Inc.’s holdings, making the stock its 6th biggest position. Cabot Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $22,220,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in shares of JPMorgan Chase & Co. by 0.9% in the third quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock worth $12,258,346,000 after purchasing an additional 505,830 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in JPMorgan Chase & Co. by 31.7% in the 3rd quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock worth $3,539,132,000 after buying an additional 4,043,841 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in JPMorgan Chase & Co. by 2.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider’s stock valued at $3,180,806,000 after buying an additional 302,592 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of JPMorgan Chase & Co. by 7.2% during the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock worth $3,338,955,000 after acquiring an additional 1,016,289 shares in the last quarter. Finally, Sanders Capital LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.6% in the third quarter. Sanders Capital LLC now owns 8,194,767 shares of the financial services provider’s stock worth $1,727,949,000 after acquiring an additional 49,695 shares during the period. Institutional investors own 71.55% of the company’s stock.

Insider Activity

In other news, CEO Troy L. Rohrbaugh sold 37,500 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.84, for a total value of $10,119,000.00. Following the sale, the chief executive officer now directly owns 158,381 shares of the company’s stock, valued at $42,737,529.04. This represents a 19.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the transaction, the general counsel now directly owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,326 shares of company stock valued at $12,448,445. Corporate insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on JPM. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Truist Financial upped their price target on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. UBS Group lifted their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Hold” and an average price target of $251.78.

JPMorgan Chase & Co. Trading Down 4.1 %

JPM opened at $249.94 on Wednesday. JPMorgan Chase & Co. has a one year low of $179.20 and a one year high of $280.25. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The business has a 50 day simple moving average of $259.14 and a two-hundred day simple moving average of $237.92. The firm has a market capitalization of $698.85 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 2.83 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. The company had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.04 earnings per share. Analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 25.33%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.