Howard Capital Management Inc. Sells 2,800 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Howard Capital Management Inc. reduced its stake in JPMorgan Chase & Co. by 11.2%, owning 22,277 shares worth approximately $5.47 million after selling 2,800 shares in the first quarter.
• GAMMA Investing LLC significantly increased its position by 25,861.9%, acquiring over 23.4 million shares, raising its investment to about $5.78 billion.
• JPMorgan Chase & Co. reported earnings per share (EPS) of $4.96 for the last quarter, exceeding analysts' expectations of $4.48, but revenue declined 10.5% year-over-year.

Howard Capital Management Inc. lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 11.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,277 shares of the financial services provider's stock after selling 2,800 shares during the quarter. Howard Capital Management Inc.'s holdings in JPMorgan Chase & Co. were worth $5,465,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $28,000. Redwood Park Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $29,000. Curat Global LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $33,000. Investment Counsel Co. of Nevada acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $37,000. Finally, Measured Risk Portfolios Inc. purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Transactions at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 2,821 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the sale, the general counsel directly owned 68,757 shares of the company's stock, valued at $18,269,422.47. This trade represents a 3.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction that occurred 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 sale, the chief operating officer owned 62,455 shares of the company's stock, valued at $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,557 shares of company stock valued at $4,113,796 over the last 90 days. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Price Performance

NYSE:JPM traded down $4.32 during trading hours on Thursday, reaching $287.03. 8,055,914 shares of the company's stock were exchanged, compared to its average volume of 8,559,338. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $797.67 billion, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 1.94 and a beta of 1.11. JPMorgan Chase & Co. has a 12 month low of $200.61 and a 12 month high of $301.29. The business's 50-day simple moving average is $282.79 and its two-hundred day simple moving average is $262.34.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. JPMorgan Chase & Co.'s revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the business posted $6.12 earnings per share. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd were given a dividend of $1.40 per share. The ex-dividend date was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 28.73%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on JPM. Truist Financial lifted their price target on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. Robert W. Baird downgraded JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a research report on Friday, June 27th. KGI Securities started coverage on shares of JPMorgan Chase & Co. in a report on Sunday, April 13th. They issued a "hold" rating on the stock. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Finally, HSBC restated a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $288.68.

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.