Alpha Omega Wealth Management LLC Sells 1,761 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Alpha Omega Wealth Management LLC reduced its holdings in JPMorgan Chase & Co. by 4.8%, selling 1,761 shares during the second quarter, resulting in ownership of 35,229 shares worth approximately $10.2 million.
• JPMorgan Chase & Co. recently increased its quarterly dividend to $1.50, representing an annualized dividend of $6.00 and a yield of 1.9%.
• Analysts have set varied price targets for JPMorgan Chase & Co., with Wells Fargo raising its target from $325 to $345 and a consensus price target of $297.17 among thirteen analysts rating the stock.

Alpha Omega Wealth Management LLC lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 35,229 shares of the financial services provider's stock after selling 1,761 shares during the period. JPMorgan Chase & Co. accounts for about 1.8% of Alpha Omega Wealth Management LLC's portfolio, making the stock its 9th largest position. Alpha Omega Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $10,213,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JPM. Brighton Jones LLC increased its stake in shares of JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after buying an additional 4,841 shares in the last quarter. Copia Wealth Management bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $80,000. Mascagni Wealth Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $81,000. Fire Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $4,823,000. Finally, Higgins & Schmidt Wealth Strategies LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $217,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was 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.

Analysts Set New Price Targets

JPM has been the subject of a number of research reports. Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Zacks Research lowered JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Royal Bank Of Canada reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Thursday, September 11th. Evercore ISI set a $298.00 price target on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, July 7th. Finally, Morgan Stanley upped their price target on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Thirteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $297.17.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $313.48 on Friday. The firm's 50 day simple moving average is $298.46 and its 200 day simple moving average is $271.08. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $316.58. The company has a market capitalization of $862.00 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 2.06 and a beta of 1.13. 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 issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business's revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.12 earnings per share. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share 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. Investors of record on Monday, October 6th will be given a $1.50 dividend. The ex-dividend date is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

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.

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