JPMorgan Chase & Co. (NYSE:JPM) Stake Cut by Hudock Inc.

Hudock Inc. reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.5% in the 3rd quarter, Holdings Channel reports. The fund owned 22,597 shares of the financial services provider’s stock after selling 116 shares during the period. JPMorgan Chase & Co. makes up about 0.8% of Hudock Inc.’s portfolio, making the stock its 24th biggest position. Hudock Inc.’s holdings in JPMorgan Chase & Co. were worth $4,765,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of JPM. International Assets Investment Management LLC purchased a new stake in JPMorgan Chase & Co. in the 3rd quarter worth about $1,888,088,000. Swedbank AB purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth about $800,130,000. Capital Research Global Investors lifted its stake in JPMorgan Chase & Co. by 23.3% in the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after acquiring an additional 3,252,451 shares in the last quarter. Wulff Hansen & CO. lifted its stake in JPMorgan Chase & Co. by 19,920.7% in the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after acquiring an additional 2,787,510 shares in the last quarter. Finally, Granite Bay Wealth Management LLC lifted its stake in JPMorgan Chase & Co. by 6,239.1% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock worth $277,456,000 after acquiring an additional 1,396,194 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on JPM shares. Daiwa Capital Markets reduced their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Jefferies Financial Group raised their price target on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Piper Sandler raised their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Finally, Evercore ISI raised their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $217.94.

JPMorgan Chase & Co. Stock Performance

JPM opened at $225.57 on Tuesday. The firm has a market capitalization of $647.76 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. The stock’s 50 day moving average price is $215.59 and its two-hundred day moving average price is $205.74. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12-month low of $136.04 and a 12-month high of $225.92.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $4.33 EPS. On average, equities analysts forecast that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a $1.25 dividend. The ex-dividend date is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.22%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.89%.

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.