Alpha Omega Wealth Management LLC Sells 1,761 Shares of JPMorgan Chase & Co. $JPM

Alpha Omega Wealth Management LLC lowered its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.8% during the second quarter, HoldingsChannel reports. The firm owned 35,229 shares of the financial services provider’s stock after selling 1,761 shares during the quarter. JPMorgan Chase & Co. comprises 1.8% of Alpha Omega Wealth Management LLC’s holdings, making the stock its 9th largest holding. Alpha Omega Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $10,213,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of JPMorgan Chase & Co. during the first quarter worth about $28,000. University of Illinois Foundation bought a new position in shares of JPMorgan Chase & Co. during the first quarter worth about $30,000. Curat Global LLC bought a new position in shares of JPMorgan Chase & Co. during the first quarter worth about $33,000. Ryan Investment Management Inc. bought a new position in shares of JPMorgan Chase & Co. during the second quarter worth about $37,000. Finally, Christopher J. Hasenberg Inc grew its holdings in shares of JPMorgan Chase & Co. by 212.0% during the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after buying an additional 106 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.0%

JPM stock opened at $313.48 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The business has a 50 day moving average price of $298.46 and a two-hundred day moving average price of $271.08. The company has a market cap of $862.00 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 2.06 and a beta of 1.13. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $316.58.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, October 6th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is presently 28.73%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on JPM shares. Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. TD Securities reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Bank of America increased their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Evercore ISI set a $298.00 price objective on JPMorgan Chase & Co. and gave the stock an “outperform” rating in a report on Monday, July 7th. Finally, Citigroup increased their price objective on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday. Thirteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $297.17.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director directly owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Company Profile

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.