Palo Alto Wealth Advisors LLC Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)

Palo Alto Wealth Advisors LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 8.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,817 shares of the financial services provider’s stock after selling 178 shares during the quarter. Palo Alto Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $407,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Mizuho Securities Co. Ltd. purchased a new stake in JPMorgan Chase & Co. during the third quarter worth about $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth about $27,000. Fairway Wealth LLC acquired a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at about $32,000. Anfield Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at about $34,000. Finally, West Financial Advisors LLC acquired a new position in JPMorgan Chase & Co. during the third quarter worth about $37,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $245.18 on Tuesday. JPMorgan Chase & Co. has a 12 month low of $151.92 and a 12 month high of $248.00. The company’s 50-day moving average price is $220.06 and its two-hundred day moving average price is $210.55. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The firm has a market cap of $690.27 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 3.56 and a beta of 1.10.

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

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a $1.25 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.04%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

Analysts Set New Price Targets

JPM has been the subject of a number of recent research reports. Barclays lifted their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Royal Bank of Canada boosted their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $227.13.

About JPMorgan Chase & Co.

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.