The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lowered its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 24.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 100,308 shares of the financial services provider’s stock after selling 32,610 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Charles Schwab were worth $6,501,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Washington Trust Advisors Inc. boosted its holdings in shares of Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 149 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in Charles Schwab during the third quarter worth about $25,000. Country Trust Bank acquired a new stake in Charles Schwab in the 2nd quarter worth about $26,000. American Capital Advisory LLC purchased a new stake in Charles Schwab in the 2nd quarter valued at about $27,000. Finally, Fortitude Family Office LLC increased its stake in shares of Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 192 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,500 shares of Charles Schwab stock in a transaction on Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,391,674.38. This trade represents a 12.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Charles R. Schwab sold 62,345 shares of the company’s 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 directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 103,645 shares of company stock worth $7,440,627. 6.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Cowen raised their target price on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods boosted their price objective on shares of Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Morgan Stanley increased their target price on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Raymond James lowered their price target on Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group cut their price objective on Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and a consensus price target of $74.18.

Charles Schwab Stock Up 2.5 %

Charles Schwab stock opened at $80.19 on Friday. The company has a 50-day simple moving average of $68.05 and a 200-day simple moving average of $69.54. The Charles Schwab Co. has a one year low of $55.09 and a one year high of $82.50. The firm has a market capitalization of $142.71 billion, a P/E ratio of 31.32, a P/E/G ratio of 1.71 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 earnings per share. As a group, equities analysts expect that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.25%. The ex-dividend date is Friday, November 8th. Charles Schwab’s dividend payout ratio is currently 39.06%.

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.