Alhambra Investment Management LLC Sells 94 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Alhambra Investment Management LLC lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.2% in the first quarter, Holdings Channel reports. The firm owned 7,729 shares of the financial services provider’s stock after selling 94 shares during the quarter. JPMorgan Chase & Co. comprises about 1.0% of Alhambra Investment Management LLC’s holdings, making the stock its 28th biggest position. Alhambra Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,896,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Redwood Park Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $29,000. Curat Global LLC bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $33,000. Sellwood Investment Partners LLC bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $34,000. Investment Counsel Co. of Nevada bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $37,000. Finally, Midwest Capital Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $43,000. Institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday. TD Cowen started coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a “buy” rating and a $305.00 target price for the company. KGI Securities started coverage on shares of JPMorgan Chase & Co. in a report on Sunday, April 13th. They set a “hold” rating for the company. UBS Group lifted their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Thirteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $269.65.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 6,128 shares of the company’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 completion of the transaction, the chief operating officer now directly owns 62,455 shares in the company, valued at $16,392,563.85. This represents a 8.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the transaction, the insider now owns 49,127 shares of the company’s stock, valued at approximately $12,130,438.84. This represents a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,722 shares of company stock worth $25,599,477 in the last three months. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $268.09 on Thursday. The firm has a 50 day moving average of $250.05 and a 200-day moving average of $250.34. The stock has a market capitalization of $745.04 billion, a PE ratio of 13.58, a PEG ratio of 2.83 and a beta of 1.08. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12 month low of $190.88 and a 12 month high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.63 by $0.44. The company had revenue of $45.30 billion during the quarter, compared to analysts’ expectations of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company earned $4.44 EPS. On average, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend 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.