A. D. Beadell Investment Counsel Inc. Cuts Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

A. D. Beadell Investment Counsel Inc. trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,768 shares of the financial services provider’s stock after selling 940 shares during the period. JPMorgan Chase & Co. comprises approximately 1.5% of A. D. Beadell Investment Counsel Inc.’s investment portfolio, making the stock its 27th largest holding. A. D. Beadell Investment Counsel Inc.’s holdings in JPMorgan Chase & Co. were worth $1,848,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Wellington Wealth Strategies LLC. bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth $1,145,000. Cooper Financial Group raised its stake in JPMorgan Chase & Co. by 12.8% in the 1st quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock valued at $1,741,000 after acquiring an additional 984 shares during the period. Spartan Planning & Wealth Management raised its stake in JPMorgan Chase & Co. by 257.3% in the 4th quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock valued at $643,000 after acquiring an additional 2,722 shares during the period. jvl associates llc raised its stake in JPMorgan Chase & Co. by 59.8% in the 1st quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock valued at $383,000 after acquiring an additional 715 shares during the period. Finally, Rowlandmiller & PARTNERS.ADV raised its stake in JPMorgan Chase & Co. by 1.3% in the 1st quarter. Rowlandmiller & PARTNERS.ADV now owns 25,963 shares of the financial services provider’s stock valued at $5,201,000 after acquiring an additional 330 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of research reports. Barclays boosted their price objective on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Oppenheimer boosted their price objective on JPMorgan Chase & Co. from $221.00 to $234.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Wolfe Research cut JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Piper Sandler lifted their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.13.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM traded down $0.91 during midday trading on Thursday, hitting $212.51. 2,163,306 shares of the company’s stock were exchanged, compared to its average volume of 9,071,647. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.48. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The company has a market cap of $610.26 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 2.39 and a beta of 1.11. The business’s fifty day moving average price is $211.22 and its two-hundred day moving average price is $203.39.

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, topping the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion during 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 quarter in the previous year, the firm earned $4.37 earnings per share. As a group, research analysts forecast that JPMorgan Chase & Co. will post 16.72 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a $1.25 dividend. The ex-dividend date is Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.35%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.89%.

About JPMorgan Chase & Co.

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.