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Reston Wealth Management LLC Sells 121 Shares of JPMorgan Chase & Co. (NYSE:JPM)

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Reston Wealth Management LLC lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,025 shares of the financial services provider’s stock after selling 121 shares during the quarter. JPMorgan Chase & Co. makes up 0.4% of Reston Wealth Management LLC’s portfolio, making the stock its 26th biggest position. Reston Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $685,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JPM. Clarity Wealth Advisors LLC raised its holdings in JPMorgan Chase & Co. by 10.2% in the first quarter. Clarity Wealth Advisors LLC now owns 20,997 shares of the financial services provider’s stock worth $2,862,000 after purchasing an additional 1,944 shares in the last quarter. Sandy Cove Advisors LLC raised its holdings in JPMorgan Chase & Co. by 8.5% in the first quarter. Sandy Cove Advisors LLC now owns 4,137 shares of the financial services provider’s stock worth $564,000 after purchasing an additional 324 shares in the last quarter. Financial Strategies Group Inc. raised its holdings in JPMorgan Chase & Co. by 20.0% in the first quarter. Financial Strategies Group Inc. now owns 5,500 shares of the financial services provider’s stock worth $750,000 after purchasing an additional 916 shares in the last quarter. Alpha Omega Wealth Management LLC raised its holdings in JPMorgan Chase & Co. by 1.5% in the first quarter. Alpha Omega Wealth Management LLC now owns 37,664 shares of the financial services provider’s stock worth $5,134,000 after purchasing an additional 557 shares in the last quarter. Finally, Landmark Wealth Management LLC bought a new position in JPMorgan Chase & Co. in the first quarter worth $46,000. Institutional investors own 70.35% of the company’s stock.

JPMorgan Chase & Co. Stock Down 1.6 %

JPM stock opened at $112.43 on Wednesday. JPMorgan Chase & Co. has a fifty-two week low of $106.06 and a fifty-two week high of $172.96. The business’s 50-day moving average is $117.91 and its two-hundred day moving average is $130.14. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.82 and a current ratio of 0.83. The company has a market cap of $330.21 billion, a price-to-earnings ratio of 9.02, a P/E/G ratio of 2.06 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last posted its earnings results on Thursday, July 14th. The financial services provider reported $2.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.76. JPMorgan Chase & Co. had a return on equity of 15.29% and a net margin of 30.41%. The company had revenue of $30.72 billion for the quarter, compared to the consensus estimate of $31.82 billion. During the same quarter in the prior year, the company earned $3.78 earnings per share. JPMorgan Chase & Co.’s revenue was up .8% on a year-over-year basis. As a group, analysts forecast that JPMorgan Chase & Co. will post 11.21 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, July 31st. Stockholders of record on Wednesday, July 6th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend was Tuesday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 32.10%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on JPM shares. Evercore ISI decreased their price objective on JPMorgan Chase & Co. from $135.00 to $125.00 in a report on Friday, July 15th. Citigroup raised JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and cut their target price for the stock from $145.00 to $135.00 in a research note on Tuesday, July 12th. Jefferies Financial Group cut their target price on JPMorgan Chase & Co. from $137.00 to $126.00 and set a “hold” rating on the stock in a research note on Monday, July 11th. Credit Suisse Group cut their target price on JPMorgan Chase & Co. from $160.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, July 15th. Finally, The Goldman Sachs Group set a $151.00 target price on JPMorgan Chase & Co. and gave the stock a “buy” rating in a research note on Thursday, April 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $145.95.

About JPMorgan Chase & Co.

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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 s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.

Further Reading

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