JPMorgan Chase & Co. (NYSE:JPM) Stock Position Decreased by Oak Harbor Wealth Partners LLC

Oak Harbor Wealth Partners LLC decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 4.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,783 shares of the financial services provider’s stock after selling 806 shares during the quarter. JPMorgan Chase & Co. comprises 1.0% of Oak Harbor Wealth Partners LLC’s investment portfolio, making the stock its 26th largest holding. Oak Harbor Wealth Partners LLC’s holdings in JPMorgan Chase & Co. were worth $3,539,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. WFA Asset Management Corp lifted its stake in shares of JPMorgan Chase & Co. by 51.2% in the 1st quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 412 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new position in JPMorgan Chase & Co. during the first quarter valued at about $1,185,000. Hoey Investments Inc. raised its holdings in JPMorgan Chase & Co. by 5.9% during the first quarter. Hoey Investments Inc. now owns 22,378 shares of the financial services provider’s stock valued at $4,482,000 after buying an additional 1,247 shares in the last quarter. Beacon Investment Advisory Services Inc. lifted its position in shares of JPMorgan Chase & Co. by 0.4% in the first quarter. Beacon Investment Advisory Services Inc. now owns 271,231 shares of the financial services provider’s stock worth $54,328,000 after buying an additional 983 shares during the last quarter. Finally, Elite Life Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 4.4% during the 1st quarter. Elite Life Management LLC now owns 1,405 shares of the financial services provider’s stock worth $281,000 after acquiring an additional 59 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.1 %

Shares of JPM opened at $245.18 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The company has a 50-day moving average price of $220.06 and a two-hundred day moving average price of $210.55. The stock has a market cap of $690.27 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 3.56 and a beta of 1.10. JPMorgan Chase & Co. has a 12 month low of $151.92 and a 12 month high of $248.00.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $4.33 earnings per share. Equities analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.04%. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on JPM shares. Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday. Evercore ISI boosted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Barclays lifted their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $227.13.

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.