The Charles Schwab Co. (NYSE:SCHW) Holdings Decreased by Wealth Alliance

Wealth Alliance reduced its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,650 shares of the financial services provider’s stock after selling 889 shares during the quarter. Wealth Alliance’s holdings in Charles Schwab were worth $1,374,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SCHW. Country Trust Bank bought a new stake in Charles Schwab in the second quarter worth about $26,000. American Capital Advisory LLC bought a new stake in Charles Schwab in the second quarter worth about $27,000. Fortitude Family Office LLC raised its position in Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 192 shares in the last quarter. CGC Financial Services LLC bought a new stake in Charles Schwab in the second quarter worth about $29,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in Charles Schwab in the second quarter worth about $29,000. 84.38% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $72.49, for a total value of $652,410.00. Following the completion of the sale, the director now directly owns 570,657 shares in the company, valued at approximately $41,366,925.93. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Chairman Charles R. Schwab sold 67,386 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $3,946,927,245.81. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $72.49, for a total value of $652,410.00. Following the completion of the sale, the director now owns 570,657 shares of the company’s stock, valued at $41,366,925.93. The disclosure for this sale can be found here. Insiders sold a total of 99,636 shares of company stock worth $6,533,064 in the last three months. 6.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. JMP Securities dropped their price target on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a research report on Tuesday, July 23rd. Barclays dropped their price target on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 17th. JPMorgan Chase & Co. dropped their price target on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. UBS Group dropped their price target on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Finally, Piper Sandler cut Charles Schwab from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $80.00 to $64.00 in a research note on Monday, July 29th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and an average target price of $73.75.

Charles Schwab Stock Up 0.2 %

Shares of Charles Schwab stock opened at $63.84 on Wednesday. The firm has a market cap of $113.46 billion, a price-to-earnings ratio of 26.71, a P/E/G ratio of 1.16 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49. The stock has a 50-day simple moving average of $64.93 and a 200-day simple moving average of $70.03.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The firm’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 EPS. On average, equities research analysts expect that The Charles Schwab Co. will post 3.05 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.57%. Charles Schwab’s dividend payout ratio is 41.84%.

About Charles Schwab

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.