JPMorgan Chase & Co. $JPM is Biondo Investment Advisors LLC's 8th Largest Position

Key Points

• Biondo Investment Advisors LLC reduced its stake in JPMorgan Chase & Co. by 4.8%, making the bank its 8th largest position with 83,891 shares valued at approximately $20.58 million.
• Equities analysts have mixed views on JPMorgan, with Evercore ISI setting a $298 price target and advising an "outperform" rating, while HSBC Global Research downgraded its position to "moderate sell."
• JPMorgan reported $4.96 EPS for the last quarter, exceeding analysts' expectations, although its revenue was down 10.5% compared to the same period last year.

Biondo Investment Advisors LLC trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 83,891 shares of the financial services provider's stock after selling 4,255 shares during the quarter. JPMorgan Chase & Co. comprises about 2.9% of Biondo Investment Advisors LLC's investment portfolio, making the stock its 8th largest holding. Biondo Investment Advisors LLC's holdings in JPMorgan Chase & Co. were worth $20,579,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of JPM. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at about $28,000. University of Illinois Foundation purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $30,000. Curat Global LLC purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $33,000. Measured Risk Portfolios Inc. purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $44,000. Finally, Minot DeBlois Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $54,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on JPM shares. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research report on Monday, July 7th. Citigroup set a $275.00 price objective on shares of JPMorgan Chase & Co. and gave the company a "buy" rating in a research report on Monday, July 7th. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. TD Cowen started coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a "buy" rating and a $305.00 price objective for the company. Finally, Keefe, Bruyette & Woods increased their price objective on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $288.68.

Insider Activity at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,128 shares of the firm's 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Stock Performance

JPM opened at $295.9920 on Friday. JPMorgan Chase & Co. has a 12-month low of $200.61 and a 12-month high of $301.29. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $813.91 billion, a PE ratio of 15.19, a P/E/G ratio of 1.94 and a beta of 1.11. The firm has a 50 day moving average of $288.92 and a two-hundred day moving average of $264.46.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period last year, the firm posted $6.12 EPS. On average, analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

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.

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