Strait & Sound Wealth Management LLC Has $1.95 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Strait & Sound Wealth Management LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 4.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,257 shares of the financial services provider’s stock after selling 477 shares during the quarter. JPMorgan Chase & Co. accounts for 0.9% of Strait & Sound Wealth Management LLC’s investment portfolio, making the stock its 18th largest holding. Strait & Sound Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,952,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of JPM. One Charles Private Wealth Services LLC raised its stake in shares of JPMorgan Chase & Co. by 0.4% in the third quarter. One Charles Private Wealth Services LLC now owns 12,179 shares of the financial services provider’s stock valued at $2,568,000 after buying an additional 44 shares during the period. Henrickson Nauta Wealth Advisors Inc. raised its stake in JPMorgan Chase & Co. by 1.3% in the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock valued at $725,000 after acquiring an additional 45 shares during the period. Sunburst Financial Group LLC lifted its holdings in JPMorgan Chase & Co. by 0.8% during the third quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock valued at $1,201,000 after purchasing an additional 45 shares during the last quarter. West Wealth Group LLC boosted its position in JPMorgan Chase & Co. by 3.6% during the third quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 46 shares during the period. Finally, Delta Financial Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 0.3% in the third quarter. Delta Financial Advisors LLC now owns 15,519 shares of the financial services provider’s stock worth $3,272,000 after purchasing an additional 46 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $243.81 on Tuesday. The stock’s 50-day moving average is $231.34 and its 200 day moving average is $215.71. The stock has a market cap of $686.41 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 3.59 and a beta of 1.11. JPMorgan Chase & Co. has a 1-year low of $158.15 and a 1-year high of $254.31. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the business earned $4.33 earnings per share. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.05%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

Analysts Set New Price Targets

A number of research firms recently weighed in on JPM. Piper Sandler lifted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Oppenheimer lowered JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Citigroup increased their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Hold” and an average target price of $234.81.

JPMorgan Chase & Co. Profile

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.