Smith Salley Wealth Management Has $49.10 Million Stock Holdings in JPMorgan Chase & Co. $JPM

Smith Salley Wealth Management increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 169,365 shares of the financial services provider’s stock after purchasing an additional 3,911 shares during the period. JPMorgan Chase & Co. accounts for 2.8% of Smith Salley Wealth Management’s holdings, making the stock its 7th biggest holding. Smith Salley Wealth Management’s holdings in JPMorgan Chase & Co. were worth $49,101,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. purchased a new position in JPMorgan Chase & Co. in the 1st quarter worth approximately $28,000. University of Illinois Foundation purchased a new position in JPMorgan Chase & Co. in the 1st quarter worth approximately $30,000. Curat Global LLC purchased a new position in JPMorgan Chase & Co. in the 1st quarter worth approximately $33,000. Ryan Investment Management Inc. purchased a new position in JPMorgan Chase & Co. in the 2nd quarter worth approximately $37,000. Finally, Christopher J. Hasenberg Inc lifted its holdings in JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 106 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $309.89 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The business’s fifty day simple moving average is $300.67 and its two-hundred day simple moving average is $274.48. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01. The firm has a market cap of $852.11 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 2.03 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the prior year, the company earned $6.12 EPS. The business’s revenue was down 10.5% compared to the same quarter last year. Analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.73%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Evercore ISI upped their price objective on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday. Bank of America upped their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Truist Financial upped their price objective on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a report on Tuesday, September 23rd. Citigroup upped their price objective on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Finally, Phillip Securities cut JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 16th. Fourteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus price target of $303.45.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.