Alta Capital Management LLC Buys 1,200 Shares of JPMorgan Chase & Co. $JPM

Alta Capital Management LLC boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 4.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,878 shares of the financial services provider’s stock after purchasing an additional 1,200 shares during the period. Alta Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $8,082,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of JPMorgan Chase & Co. in the first quarter valued at about $28,000. University of Illinois Foundation purchased a new position in shares of JPMorgan Chase & Co. during the first quarter valued at about $30,000. Ryan Investment Management Inc. purchased a new position in shares of JPMorgan Chase & Co. during the second quarter valued at about $37,000. Christopher J. Hasenberg Inc grew its holdings in JPMorgan Chase & Co. by 212.0% in the second 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 during the period. Finally, Goodman Advisory Group LLC purchased a new stake in JPMorgan Chase & Co. in the first quarter worth about $76,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the topic of several analyst reports. Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. KGI Securities upped their target price on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Barclays upped their target price on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 16th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $343.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $322.27.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.9%

JPM opened at $300.27 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $318.01. The company has a market capitalization of $825.66 billion, a PE ratio of 14.87, a PEG ratio of 1.81 and a beta of 1.13. The firm’s 50 day simple moving average is $303.43 and its two-hundred day simple moving average is $281.56.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.83 by $0.24. The business had revenue of $46.43 billion for the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm earned $4.37 earnings per share. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.72%.

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.