Davidson Investment Advisors lowered its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 8.2% during the second quarter, Holdings Channel reports. The fund owned 6,975 shares of the financial services provider’s stock after selling 625 shares during the quarter. Davidson Investment Advisors’ holdings in The Charles Schwab were worth $508,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in SCHW. Personal CFO Solutions LLC grew its position in The Charles Schwab by 3.3% in the second quarter. Personal CFO Solutions LLC now owns 4,759 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 150 shares in the last quarter. Canvas Wealth Advisors LLC boosted its holdings in The Charles Schwab by 1.4% in the 2nd quarter. Canvas Wealth Advisors LLC now owns 10,525 shares of the financial services provider’s stock valued at $766,000 after purchasing an additional 150 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of The Charles Schwab by 7.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,200 shares of the financial services provider’s stock valued at $160,000 after buying an additional 157 shares in the last quarter. V Wealth Advisors LLC increased its position in shares of The Charles Schwab by 4.1% during the 2nd quarter. V Wealth Advisors LLC now owns 4,380 shares of the financial services provider’s stock worth $318,000 after purchasing an additional 171 shares in the last quarter. Finally, Pointe Capital Management LLC grew its holdings in The Charles Schwab by 3.2% during the 1st quarter. Pointe Capital Management LLC now owns 5,583 shares of the financial services provider’s stock worth $364,000 after acquiring an additional 172 shares during the last quarter. Hedge funds and other institutional investors own 71.66% of the company’s stock.
In other news, Chairman Charles R. Schwab sold 28,000 shares of the firm’s stock in a transaction on Monday, June 21st. The stock was sold at an average price of $71.30, for a total transaction of $1,996,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 25,701 shares of the stock in a transaction on Monday, July 12th. The stock was sold at an average price of $70.94, for a total value of $1,823,228.94. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 541,260 shares of company stock valued at $39,392,289. Insiders own 7.50% of the company’s stock.
The Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, July 15th. The financial services provider reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). The company had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.46 billion. The Charles Schwab had a net margin of 28.88% and a return on equity of 12.89%. The company’s quarterly revenue was up 84.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 earnings per share. On average, research analysts expect that The Charles Schwab Co. will post 3.14 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 27th. Stockholders of record on Friday, August 13th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Thursday, August 12th. The Charles Schwab’s dividend payout ratio is presently 29.39%.
Several research analysts recently weighed in on SCHW shares. Citigroup reduced their price objective on shares of The Charles Schwab from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, July 19th. The Goldman Sachs Group downgraded shares of The Charles Schwab from a “buy” rating to a “neutral” rating and set a $76.00 target price on the stock. in a report on Thursday, July 8th. JMP Securities lifted their price objective on shares of The Charles Schwab from $83.00 to $85.00 and gave the stock a “market outperform” rating in a research report on Friday, July 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of The Charles Schwab from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Friday, July 23rd. Finally, boosted their price target on The Charles Schwab from $93.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, July 12th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $81.41.
The Charles Schwab Company Profile
The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.
Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Charles Schwab Co. (NYSE:SCHW).
Receive News & Ratings for The Charles Schwab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Charles Schwab and related companies with MarketBeat.com's FREE daily email newsletter.