The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Financial Advocates Investment Management

Financial Advocates Investment Management trimmed its holdings in The Charles Schwab Co. (NYSE:SCHW) by 8.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,911 shares of the financial services provider’s stock after selling 255 shares during the period. Financial Advocates Investment Management’s holdings in Charles Schwab were worth $215,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Washington Trust Advisors Inc. increased its position in 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 acquired a new stake in Charles Schwab during the third quarter worth about $25,000. Prospera Private Wealth LLC acquired a new stake in Charles Schwab during the third quarter worth about $31,000. Hazlett Burt & Watson Inc. acquired a new stake in Charles Schwab during the third quarter worth about $33,000. Finally, Planning Capital Management Corp acquired a new stake in Charles Schwab during the third quarter worth about $33,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Redburn Partners cut their price objective on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research report on Friday, January 17th. JPMorgan Chase & Co. lifted their price target on shares of Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Cowen lifted their price target 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. Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $84.50.

Insider Buying and Selling

In other Charles Schwab news, Director Christopher V. Dodds sold 9,284 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $81.43, for a total transaction of $755,996.12. Following the sale, the director now owns 442,807 shares of the company’s stock, valued at approximately $36,057,774.01. This trade represents a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arun Sarin sold 8,548 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total transaction of $699,397.36. Following the sale, the director now directly owns 18,617 shares in the company, valued at approximately $1,523,242.94. The trade was a 31.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,514 shares of company stock worth $3,859,731 over the last 90 days. 6.60% of the stock is owned by insiders.

Charles Schwab Stock Down 2.5 %

Shares of Charles Schwab stock opened at $81.13 on Tuesday. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.04. The company has a 50 day moving average of $78.00 and a 200 day moving average of $71.88. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $144.38 billion, a P/E ratio of 27.13, a P/E/G ratio of 1.02 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. As a group, research analysts forecast that The Charles Schwab Co. will post 4.18 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.27 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.33%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is currently 36.12%.

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.