The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Meridian Management Co.

Meridian Management Co. lessened its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 43,756 shares of the financial services provider’s stock after selling 482 shares during the quarter. Meridian Management Co.’s holdings in Charles Schwab were worth $3,224,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SCHW. Country Trust Bank purchased a new position in Charles Schwab during the 2nd quarter worth approximately $26,000. Fortitude Family Office LLC grew its position in shares of Charles Schwab by 97.5% during 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 during the last quarter. American Capital Advisory LLC acquired a new position in shares of Charles Schwab in the 2nd quarter valued at $27,000. CGC Financial Services LLC purchased a new stake in Charles Schwab in the 2nd quarter valued at $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in Charles Schwab during the 2nd quarter worth $29,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on SCHW shares. JPMorgan Chase & Co. dropped their price objective on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. 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 report on Wednesday, July 17th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $80.00 target price on shares of Charles Schwab in a research note on Thursday, August 22nd. JMP Securities cut their price target on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research note on Tuesday, July 23rd. Finally, Piper Sandler lowered shares of Charles Schwab from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $80.00 to $64.00 in a research report on Monday, July 29th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Charles Schwab has an average rating of “Hold” and an average price target of $73.75.

Charles Schwab Trading Up 0.6 %

Shares of Charles Schwab stock opened at $62.12 on Friday. The company has a 50-day moving average of $65.33 and a two-hundred day moving average of $70.00. The stock has a market cap of $110.48 billion, a PE ratio of 25.99, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The Charles Schwab Co. has a 12-month low of $48.66 and a 12-month high of $79.49.

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

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.61%. Charles Schwab’s payout ratio is 41.84%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 780 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $75.00, for a total value of $58,500.00. Following the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,355,175. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Walter W. Bettinger bought 25,000 shares of Charles Schwab 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 acquisition, the chief executive officer now owns 827,377 shares in the company, valued at $54,822,000.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 780 shares of Charles Schwab stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $75.00, for a total transaction of $58,500.00. Following the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,355,175. The disclosure for this sale can be found here. In the last three months, insiders sold 99,636 shares of company stock worth $6,533,064. 6.60% of the stock is owned by corporate insiders.

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.