Abbrea Capital LLC Has $8.98 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Abbrea Capital LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 44,402 shares of the financial services provider’s stock after selling 696 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.2% of Abbrea Capital LLC’s investment portfolio, making the stock its 22nd largest holding. Abbrea Capital LLC’s holdings in JPMorgan Chase & Co. were worth $8,981,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Retirement Group LLC increased its stake in shares of JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares during the period. Richardson Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $34,000. Anfield Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth $34,000. Davidson Capital Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $37,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $40,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on JPM shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Oppenheimer lifted their price objective on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Wells Fargo & Company lifted their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Evercore ISI boosted their target price on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $211.06.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $209.50 on Wednesday. The firm has a market cap of $601.61 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 2.33 and a beta of 1.12. The stock’s 50-day moving average is $211.43 and its 200-day moving average is $201.36. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $225.48. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same quarter in the prior year, the company posted $4.37 earnings per share. Equities analysts predict that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Company Profile

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.