Wealth Quarterback LLC Sells 2,667 Shares of The Charles Schwab Co. (NYSE:SCHW)

Wealth Quarterback LLC lowered its stake in The Charles Schwab Co. (NYSE:SCHW) by 30.9% in the 3rd quarter, Holdings Channel reports. The firm owned 5,977 shares of the financial services provider’s stock after selling 2,667 shares during the quarter. Wealth Quarterback LLC’s holdings in Charles Schwab were worth $387,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SCHW. Abbrea Capital LLC raised its position in shares of Charles Schwab by 2.5% in the first quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock worth $418,000 after buying an additional 142 shares in the last quarter. Alliance Wealth Advisors LLC raised its holdings in shares of Charles Schwab by 2.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 142 shares in the last quarter. Washington Trust Advisors Inc. raised its holdings in shares of Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 149 shares in the last quarter. Arcataur Capital Management LLC grew its holdings in shares of Charles Schwab by 2.3% during the third quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock worth $431,000 after purchasing an additional 150 shares in the last quarter. Finally, Tandem Capital Management Corp ADV grew its holdings in shares of Charles Schwab by 0.3% during the third quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider’s stock worth $3,210,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Shares of Charles Schwab stock opened at $73.89 on Friday. The company’s fifty day simple moving average is $67.24 and its two-hundred day simple moving average is $69.52. The Charles Schwab Co. has a 12-month low of $53.49 and a 12-month high of $79.49. The firm has a market cap of $131.41 billion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. As a group, equities analysts expect that The Charles Schwab Co. will post 3.11 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.35%. Charles Schwab’s payout ratio is 39.06%.

Analysts Set New Price Targets

Several brokerages have issued reports on SCHW. Cowen lifted their target price on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Jefferies Financial Group lowered their price target on Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Barclays upped their price objective on Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their target price on Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Charles Schwab currently has an average rating of “Hold” and an average price target of $73.94.

Insider Transactions at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the sale, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the transaction, the chairman now owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the transaction, the director now owns 554,929 shares of the company’s stock, valued at $35,543,202.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,465 shares of company stock valued at $8,050,109. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Company 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.