4,691 Shares in The Charles Schwab Co. (NYSE:SCHW) Purchased by Sweeney & Michel LLC

Sweeney & Michel LLC purchased a new position in The Charles Schwab Co. (NYSE:SCHW) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,691 shares of the financial services provider’s stock, valued at approximately $362,000.

A number of other hedge funds have also bought and sold shares of the company. Frazier Financial Advisors LLC acquired a new position in Charles Schwab in the fourth quarter valued at approximately $30,000. Wetzel Investment Advisors Inc. acquired a new position in Charles Schwab in the fourth quarter valued at approximately $31,000. Tributary Capital Management LLC acquired a new position in Charles Schwab in the first quarter valued at approximately $31,000. Glass Jacobson Investment Advisors llc boosted its stake in Charles Schwab by 81.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 599 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 268 shares during the period. Finally, Partnership Wealth Management LLC acquired a new position in Charles Schwab in the fourth quarter valued at approximately $41,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SCHW has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on Charles Schwab from $84.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. TD Cowen reiterated a “hold” rating and set a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. StockNews.com downgraded Charles Schwab from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Morgan Stanley dropped their target price on Charles Schwab from $73.00 to $71.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Finally, Jefferies Financial Group upped their price target on Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a report on Monday, July 8th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $74.27.

Charles Schwab Price Performance

NYSE:SCHW traded down $0.39 during mid-day trading on Tuesday, hitting $64.91. The company’s stock had a trading volume of 8,021,914 shares, compared to its average volume of 8,019,413. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $115.36 billion, a price-to-earnings ratio of 27.16, a P/E/G ratio of 1.24 and a beta of 0.99. The stock has a fifty day moving average of $71.55 and a 200-day moving average of $70.05.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.65%. The firm had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.68 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. The company’s quarterly revenue was up .7% compared to the same quarter last year. As a group, equities analysts forecast that The Charles Schwab Co. will post 3.09 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be paid a $0.25 dividend. The ex-dividend date is Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.54%. Charles Schwab’s payout ratio is presently 41.84%.

Insider Buying and Selling at Charles Schwab

In other news, CEO Walter W. Bettinger bought 25,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were bought at an average cost of $66.26 per share, for a total transaction of $1,656,500.00. Following the completion of the acquisition, the chief executive officer now owns 827,377 shares in the company, valued at approximately $54,822,000.02. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $61.96, for a total value of $557,640.00. Following the completion of the transaction, the director now owns 567,057 shares of the company’s stock, valued at $35,134,851.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Walter W. Bettinger bought 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was acquired at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the transaction, the chief executive officer now owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 350,178 shares of company stock valued at $26,136,963. 6.60% of the stock is currently owned by insiders.

Charles Schwab Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.