Smith Salley Wealth Management Sells 22,863 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Smith Salley Wealth Management lessened its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 12.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 165,454 shares of the financial services provider's stock after selling 22,863 shares during the quarter. JPMorgan Chase & Co. accounts for 2.7% of Smith Salley Wealth Management's portfolio, making the stock its 7th largest position. Smith Salley Wealth Management's holdings in JPMorgan Chase & Co. were worth $40,586,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings 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 acquiring an additional 4,841 shares in the last quarter. SOA Wealth Advisors LLC. raised its stake in JPMorgan Chase & Co. by 1.2% in the fourth quarter. SOA Wealth Advisors LLC. now owns 21,337 shares of the financial services provider's stock worth $5,115,000 after buying an additional 255 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in JPMorgan Chase & Co. by 0.6% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock worth $46,068,000 after buying an additional 1,229 shares in the last quarter. Highview Capital Management LLC DE raised its stake in JPMorgan Chase & Co. by 16.1% in the fourth quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock worth $3,266,000 after buying an additional 1,893 shares in the last quarter. Finally, Magnolia Private Wealth LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $657,000. Institutional investors own 71.55% of the company's stock.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,129 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total value of $1,536,908.04. Following the transaction, the chief operating officer directly owned 68,583 shares in the company, valued at $17,197,873.08. The trade was a 8.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the completion of the transaction, the general counsel owned 36,520 shares in the company, valued at $9,703,729.20. The trade was a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

JPM stock traded up $0.28 during trading on Wednesday, hitting $283.06. The stock had a trading volume of 5,274,840 shares, compared to its average volume of 9,541,459. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $296.40. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. The company's 50-day moving average price is $268.71 and its two-hundred day moving average price is $255.45. The stock has a market capitalization of $786.64 billion, a P/E ratio of 13.90, a PEG ratio of 2.71 and a beta of 1.10.

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

JPMorgan Chase & Co. Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Monday. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research note on Monday. UBS Group upped their price target on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Piper Sandler reaffirmed a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $280.45.

JPMorgan Chase & Co. 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.