Alpha Omega Wealth Management LLC Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Alpha Omega Wealth Management LLC lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,961 shares of the financial services provider’s stock after selling 406 shares during the quarter. JPMorgan Chase & Co. comprises 1.5% of Alpha Omega Wealth Management LLC’s portfolio, making the stock its 13th largest position. Alpha Omega Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $8,083,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of JPM. Retirement Group LLC lifted its stake in shares of JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after buying an additional 109 shares in the last quarter. Richardson Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth approximately $34,000. Davidson Capital Management Inc. bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth approximately $37,000. Kathleen S. Wright Associates Inc. bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth approximately $40,000. Finally, Bare Financial Services Inc bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction on Monday, June 10th. The shares were sold at an average price of $199.54, for a total value of $1,014,860.44. Following the completion of the transaction, the insider now directly owns 212,265 shares of the company’s stock, valued at approximately $42,355,358.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.79% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on JPM. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Royal Bank of Canada restated an “outperform” rating and set a $211.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. Keefe, Bruyette & Woods increased their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Finally, StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.71.

JPMorgan Chase & Co. Stock Performance

JPM opened at $220.18 on Wednesday. The stock has a market capitalization of $632.28 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 2.42 and a beta of 1.12. The company has a fifty day moving average of $207.29 and a 200 day moving average of $197.47. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $220.42. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same period last year, the company posted $4.37 earnings per share. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

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.