Cabot Wealth Management Inc. Trims Position in JPMorgan Chase & Co. $JPM

Cabot Wealth Management Inc. reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 75,670 shares of the financial services provider’s stock after selling 516 shares during the period. JPMorgan Chase & Co. makes up 2.6% of Cabot Wealth Management Inc.’s portfolio, making the stock its 8th largest holding. Cabot Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $21,938,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Harbor Asset Planning Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth about $26,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth about $28,000. University of Illinois Foundation bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth about $30,000. Ryan Investment Management Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth about $37,000. Finally, Christopher J. Hasenberg Inc increased its holdings in shares of 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 buying an additional 106 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on JPM. Zacks Research upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. TD Cowen boosted their target price on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Daiwa Capital Markets boosted their target price on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. UBS Group boosted their target price on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Finally, Barclays upped their price target on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $326.38.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $309.36 on Wednesday. The company has a market capitalization of $850.66 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 1.84 and a beta of 1.13. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01. The firm’s 50-day moving average is $305.42 and its 200 day moving average is $285.96. 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. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.83 by $0.24. The company 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 firm’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.37 EPS. Research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were given a $1.50 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.72%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the sale, the director directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is currently owned by company insiders.

About JPMorgan Chase & Co.

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.