Avaii Wealth Management LLC Trims Stake in JPMorgan Chase & Co. (NYSE:JPM)

Avaii Wealth Management LLC lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,490 shares of the financial services provider’s stock after selling 183 shares during the period. Avaii Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $934,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of JPM. Reston Wealth Management LLC raised its position in JPMorgan Chase & Co. by 1.7% during the 3rd quarter. Reston Wealth Management LLC now owns 4,989 shares of the financial services provider’s stock valued at $723,000 after purchasing an additional 82 shares in the last quarter. Lake Street Financial LLC increased its stake in shares of JPMorgan Chase & Co. by 31.4% during the third quarter. Lake Street Financial LLC now owns 43,130 shares of the financial services provider’s stock valued at $6,366,000 after buying an additional 10,311 shares during the period. Future Financial Wealth Managment LLC raised its holdings in shares of JPMorgan Chase & Co. by 15.3% in the third quarter. Future Financial Wealth Managment LLC now owns 4,728 shares of the financial services provider’s stock valued at $686,000 after acquiring an additional 627 shares in the last quarter. Index Fund Advisors Inc. lifted its stake in JPMorgan Chase & Co. by 29.4% in the third quarter. Index Fund Advisors Inc. now owns 3,304 shares of the financial services provider’s stock worth $479,000 after acquiring an additional 751 shares during the period. Finally, Townsend Asset Management Corp NC ADV grew its holdings in JPMorgan Chase & Co. by 3.8% during the 3rd quarter. Townsend Asset Management Corp NC ADV now owns 40,319 shares of the financial services provider’s stock worth $5,847,000 after acquiring an additional 1,464 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling

In related news, CEO James Dimon sold 178,222 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $184.18, for a total value of $32,824,927.96. Following the transaction, the chief executive officer now owns 264,461 shares in the company, valued at approximately $48,708,426.98. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO James Dimon sold 178,222 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $184.18, for a total transaction of $32,824,927.96. Following the completion of the transaction, the chief executive officer now directly owns 264,461 shares in the company, valued at $48,708,426.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lori A. Beer sold 3,920 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $195.36, for a total value of $765,811.20. Following the sale, the insider now directly owns 64,783 shares in the company, valued at $12,656,006.88. The disclosure for this sale can be found here. Insiders sold 1,020,696 shares of company stock valued at $186,794,151 over the last quarter. 0.79% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on JPM. Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Thursday, February 1st. BMO Capital Markets cut their price target on JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a report on Monday, April 15th. UBS Group decreased their price objective on JPMorgan Chase & Co. from $226.00 to $219.00 and set a “buy” rating for the company in a research note on Tuesday, April 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $185.00 target price on shares of JPMorgan Chase & Co. in a research note on Wednesday, March 20th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $192.05.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $190.51 on Friday. The business has a fifty day moving average of $191.40 and a 200 day moving average of $172.13. JPMorgan Chase & Co. has a 1 year low of $131.81 and a 1 year high of $200.94. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a market capitalization of $547.08 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 2.40 and a beta of 1.13.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.41%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Thursday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.78%.

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.