Wed Sep 25 09:05:32 UTC 2024: ## Alaethes Wealth Reduces Stake in JPMorgan Chase, Other Investors Make Moves

**New York, NY (MarketBeat News)** – Alaethes Wealth LLC trimmed its holdings in financial services giant JPMorgan Chase & Co. (NYSE: JPM) by a modest 0.5% during the second quarter, according to a recent SEC filing. The firm now owns 15,195 shares of JPM, representing approximately 1.3% of its total holdings.

While Alaethes Wealth adjusted its position, other institutional investors and hedge funds made notable moves in the company. Retirement Group LLC significantly increased its stake in JPM by 227.1% during the first quarter, now owning 157 shares. New positions were also acquired by Fairway Wealth LLC, Richardson Capital Management LLC, Anfield Capital Management LLC, and Davidson Capital Management Inc. during the first and second quarters.

Institutional ownership in JPMorgan Chase & Co. currently sits at 71.55%.

Several research analysts recently weighed in on JPM. Deutsche Bank Aktiengesellschaft maintained a “hold” rating with a $235.00 price target, while Keefe, Bruyette & Woods raised their price objective to $211.00 and assigned a “market perform” rating. Wolfe Research downgraded the stock to a “peer perform” rating from “outperform,” while Citigroup increased its price target to $215.00 and gave the stock a “neutral” rating. Evercore ISI also raised its price target to $211.00 and maintained an “outperform” rating. Currently, eight analysts have rated the stock as a “hold” and eleven have given a “buy” rating, resulting in an average rating of “Moderate Buy” and a consensus target price of $211.06, according to MarketBeat.

JPMorgan Chase & Co. opened at $211.70 on Wednesday. The company reported strong second-quarter earnings on July 12th, surpassing analysts’ expectations with $6.12 EPS and revenue of $50.80 billion. The company also announced a quarterly dividend of $1.25, payable on October 31st, representing a 2.36% dividend yield.

Overall, the recent activity surrounding JPMorgan Chase & Co. suggests continued investor interest in the financial services giant, despite some trimming of positions by certain funds. The company’s strong earnings performance and dividend announcement further support its position as a solid investment option.

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