Pinnacle Wealth Management Advisory Group LLC Lowers Position in JPMorgan Chase & Co. (NYSE:JPM)

Pinnacle Wealth Management Advisory Group LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,914 shares of the financial services provider’s stock after selling 159 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.9% of Pinnacle Wealth Management Advisory Group LLC’s portfolio, making the stock its 29th largest position. Pinnacle Wealth Management Advisory Group LLC’s holdings in JPMorgan Chase & Co. were worth $10,036,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. MJT & Associates Financial Advisory Group Inc. bought a new stake in JPMorgan Chase & Co. during the first quarter worth about $28,000. Redwood Park Advisors LLC bought a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $29,000. Curat Global LLC bought a new stake in JPMorgan Chase & Co. during the first quarter worth about $33,000. Investment Counsel Co. of Nevada bought a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $37,000. Finally, Measured Risk Portfolios Inc. bought a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $44,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Down 2.4%

JPM opened at $289.21 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a 50 day moving average price of $281.04 and a 200-day moving average price of $261.69. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $301.29. The stock has a market capitalization of $803.74 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.94 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $6.12 earnings per share. Equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.9%. The ex-dividend date was Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is 28.73%.

Analysts Set New Price Targets

JPM has been the topic of several research reports. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price objective on the stock. in a research note on Friday, June 27th. Wall Street Zen raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. TD Cowen assumed coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a “buy” rating and a $305.00 target price for the company. Royal Bank Of Canada set a $305.00 target price on shares of JPMorgan Chase & Co. and gave the stock an “outperform” rating in a report on Monday, June 30th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average price target of $288.68.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 40,014 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the completion of the sale, the chief financial officer directly owned 18,017 shares in the company, valued at approximately $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the sale, the director owned 91,539 shares of the company’s stock, valued at $22,884,750. This trade represents a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is owned by corporate insiders.

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.