JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Smith Salley Wealth Management

Smith Salley Wealth Management lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 12.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,454 shares of the financial services provider's stock after selling 22,863 shares during the period. JPMorgan Chase & Co. makes up 2.7% of Smith Salley Wealth Management's portfolio, making the stock its 7th biggest position. Smith Salley Wealth Management's holdings in JPMorgan Chase & Co. were worth $40,586,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of JPM. Blue Bell Private Wealth Management LLC lifted its stake in JPMorgan Chase & Co. by 1.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider's stock worth $622,000 after purchasing an additional 38 shares during the last quarter. Hurlow Wealth Management Group Inc. boosted its position in shares of JPMorgan Chase & Co. by 0.7% in the fourth quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider's stock worth $1,328,000 after buying an additional 40 shares during the period. Wimmer Associates 1 LLC boosted its position in JPMorgan Chase & Co. by 1.0% during the fourth quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock valued at $986,000 after purchasing an additional 40 shares during the last quarter. Twin Lakes Capital Management LLC increased its position in JPMorgan Chase & Co. by 0.3% during the fourth quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock worth $3,340,000 after buying an additional 40 shares during the last quarter. Finally, Rockbridge Investment Management LCC lifted its position in JPMorgan Chase & Co. by 2.3% during the 4th quarter. Rockbridge Investment Management LCC now owns 1,838 shares of the financial services provider's stock worth $441,000 after acquiring an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the transaction, the director directly owned 91,539 shares in the company, valued at $22,884,750. The trade was a 9.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jeremy Barnum sold 40,014 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the transaction, the chief financial officer owned 18,017 shares in the company, valued at $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock worth $18,060,015 over the last quarter. 0.47% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of analyst reports. Royal Bank Of Canada set a $305.00 price target on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research note on Monday, June 30th. Piper Sandler reaffirmed a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Bank of America increased their price target on JPMorgan Chase & Co. from $300.00 to $325.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Morgan Stanley set a $240.00 price target on JPMorgan Chase & Co. and gave the company an "equal weight" rating in a report on Monday. Finally, Robert W. Baird lowered shares of 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. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of "Hold" and an average price target of $276.80.

JPMorgan Chase & Co. Trading Down 3.1%

JPM traded down $9.11 on Tuesday, hitting $282.86. The company had a trading volume of 15,432,541 shares, compared to its average volume of 9,554,289. The company has a market cap of $786.09 billion, a PE ratio of 13.89, a PEG ratio of 2.75 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $296.40. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. The business's fifty day simple moving average is $267.94 and its 200 day simple moving average is $255.26.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The company had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter in the previous year, the firm posted $4.44 earnings per share. JPMorgan Chase & Co.'s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.98%. JPMorgan Chase & Co.'s payout ratio is 27.49%.

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.