Alpha Cubed Investments LLC Acquires 62,220 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Alpha Cubed Investments LLC raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 34.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 243,172 shares of the financial services provider’s stock after purchasing an additional 62,220 shares during the quarter. JPMorgan Chase & Co. accounts for about 2.3% of Alpha Cubed Investments LLC’s holdings, making the stock its 11th biggest position. Alpha Cubed Investments LLC’s holdings in JPMorgan Chase & Co. were worth $51,275,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in JPM. Swedbank AB acquired a new stake in JPMorgan Chase & Co. during the first quarter worth approximately $800,130,000. Capital Research Global Investors boosted its stake in JPMorgan Chase & Co. by 23.3% in the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after purchasing an additional 3,252,451 shares during the period. Wulff Hansen & CO. increased its position in JPMorgan Chase & Co. by 19,920.7% during the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after buying an additional 2,787,510 shares during the period. Granite Bay Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 6,239.1% during the second quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock worth $277,456,000 after buying an additional 1,396,194 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of JPMorgan Chase & Co. by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock valued at $4,590,412,000 after acquiring an additional 1,040,594 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $210.90 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The stock has a market cap of $605.63 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 2.39 and a beta of 1.11. The stock’s fifty day simple moving average is $211.30 and its two-hundred day simple moving average is $203.14. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The business had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. During the same period in the previous year, the company earned $4.37 earnings per share. As a group, analysts forecast that JPMorgan Chase & Co. will post 16.72 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.37%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.89%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Oppenheimer increased their target price on shares of JPMorgan Chase & Co. from $221.00 to $234.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group lifted their price objective on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Evercore ISI boosted their price target on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, BMO Capital Markets increased their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $212.13.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.