Accuvest Global Advisors Invests $1.52 Million in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Accuvest Global Advisors has acquired a new position in JPMorgan Chase & Co., purchasing 6,184 shares valued at approximately $1.5 million, accounting for about 1.3% of its total holdings.
• JPMorgan Chase recently reported a quarterly earnings per share of $4.96, surpassing analysts' expectations, although revenue has decreased by 10.5% year-over-year.
• The company declared a quarterly dividend of $1.40 per share, resulting in an annualized dividend of $5.60 and a yield of 1.9%.

Accuvest Global Advisors acquired a new position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 6,184 shares of the financial services provider's stock, valued at approximately $1,517,000. JPMorgan Chase & Co. comprises approximately 1.3% of Accuvest Global Advisors' investment portfolio, making the stock its 21st largest position.

Several other large investors have also recently bought and sold shares of the company. Florida Financial Advisors LLC boosted its stake in JPMorgan Chase & Co. by 62.5% in the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock valued at $2,416,000 after acquiring an additional 3,792 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $471,000. Crown Wealth Group LLC boosted its position in shares of JPMorgan Chase & Co. by 5.4% in the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock worth $1,060,000 after purchasing an additional 222 shares during the last quarter. Morse Asset Management Inc boosted its position in shares of JPMorgan Chase & Co. by 19.5% in the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock worth $630,000 after purchasing an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC grew its stake in shares of JPMorgan Chase & Co. by 4.2% during the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock worth $677,000 after purchasing an additional 112 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Buying and Selling

In other news, General Counsel Stacey Friedman sold 2,821 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $749,567.91. Following the sale, the general counsel owned 68,757 shares of the company's stock, valued at $18,269,422.47. The trade was a 3.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the transaction, the chief operating officer directly owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,557 shares of company stock worth $4,113,796 over the last quarter. 0.47% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

JPM has been the topic of several analyst reports. HSBC reissued a "reduce" rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Morgan Stanley increased their price target on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods upped their target price on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Finally, Royal Bank Of Canada set a $305.00 target price on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday, June 30th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $288.68.

JPMorgan Chase & Co. Stock Up 1.1%

Shares of JPM traded up $3.07 during midday trading on Tuesday, hitting $292.63. The stock had a trading volume of 8,570,252 shares, compared to its average volume of 8,325,503. The firm has a market cap of $804.66 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 1.92 and a beta of 1.11. The company has a 50 day simple moving average of $284.76 and a two-hundred day simple moving average of $263.06. JPMorgan Chase & Co. has a twelve month low of $200.61 and a twelve month high of $301.29. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $43.76 billion. During the same period last year, the company earned $6.12 earnings per share. JPMorgan Chase & Co.'s quarterly revenue was down 10.5% on a year-over-year basis. On average, analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd were issued a $1.40 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.73%.

JPMorgan Chase & Co. Company 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.