Abbrea Capital LLC Has $4.41 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Abbrea Capital LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,198 shares of the financial services provider’s stock after selling 813 shares during the quarter. JPMorgan Chase & Co. comprises 0.8% of Abbrea Capital LLC’s portfolio, making the stock its 25th largest position. Abbrea Capital LLC’s holdings in JPMorgan Chase & Co. were worth $4,410,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in shares of JPMorgan Chase & Co. by 23.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 31,667,210 shares of the financial services provider’s stock valued at $3,566,044,000 after acquiring an additional 5,978,393 shares during the period. Legal & General Group Plc grew its holdings in JPMorgan Chase & Co. by 4.2% during the second quarter. Legal & General Group Plc now owns 21,156,537 shares of the financial services provider’s stock valued at $2,382,439,000 after purchasing an additional 847,094 shares during the period. Franklin Resources Inc. increased its stake in JPMorgan Chase & Co. by 21.1% in the second quarter. Franklin Resources Inc. now owns 19,739,048 shares of the financial services provider’s stock valued at $2,222,815,000 after purchasing an additional 3,435,522 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in JPMorgan Chase & Co. by 4.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,607,661 shares of the financial services provider’s stock worth $2,536,598,000 after purchasing an additional 805,196 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of JPMorgan Chase & Co. by 3.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,780,611 shares of the financial services provider’s stock worth $988,785,000 after purchasing an additional 259,671 shares in the last quarter. Institutional investors and hedge funds own 67.89% of the company’s stock.

Insider Activity

In other news, CEO Mary E. Erdoes sold 10,340 shares of the company’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $140.29, for a total value of $1,450,598.60. Following the sale, the chief executive officer now directly owns 544,136 shares of the company’s stock, valued at approximately $76,336,839.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other JPMorgan Chase & Co. news, Director Mellody L. Hobson purchased 375 shares of the business’s stock in a transaction on Thursday, January 19th. The stock was acquired at an average price of $134.53 per share, with a total value of $50,448.75. Following the acquisition, the director now directly owns 22,040 shares of the company’s stock, valued at approximately $2,965,041.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Mary E. Erdoes sold 10,340 shares of the company’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $140.29, for a total transaction of $1,450,598.60. Following the completion of the transaction, the chief executive officer now owns 544,136 shares in the company, valued at $76,336,839.44. The disclosure for this sale can be found here. Insiders sold a total of 37,887 shares of company stock valued at $5,315,762 in the last quarter. Company insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Royal Bank of Canada set a $130.00 price objective on shares of JPMorgan Chase & Co. in a research report on Friday, January 13th. Piper Sandler increased their price target on JPMorgan Chase & Co. from $150.00 to $157.00 in a report on Tuesday, January 17th. Credit Suisse Group set a $155.00 price objective on JPMorgan Chase & Co. in a report on Tuesday, January 17th. UBS Group set a $156.00 target price on JPMorgan Chase & Co. in a research note on Friday, January 13th. Finally, Citigroup raised their target price on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a report on Tuesday, January 17th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.89.

JPMorgan Chase & Co. Trading Up 0.9 %

JPMorgan Chase & Co. stock opened at $138.45 on Wednesday. The company has a market cap of $406.10 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 2.10 and a beta of 1.13. The firm has a 50-day moving average of $134.78 and a 200-day moving average of $123.13. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.84 and a quick ratio of 0.84. JPMorgan Chase & Co. has a one year low of $101.28 and a one year high of $159.03.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last posted its quarterly earnings results on Friday, January 13th. The financial services provider reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.46. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. The firm had revenue of $34.55 billion during the quarter, compared to the consensus estimate of $34.23 billion. During the same period last year, the company earned $3.33 earnings per share. The business’s revenue was up 18.1% compared to the same quarter last year. On average, equities analysts expect that JPMorgan Chase & Co. will post 12.88 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, January 6th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Thursday, January 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 33.11%.

About JPMorgan Chase & Co.

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JPMorgan Chase & Co is a financial holding company. It provides 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.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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