The Charles Schwab Co. (NYSE:SCHW) Shares Acquired by Patten & Patten Inc. TN

Patten & Patten Inc. TN raised its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 155.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 104,168 shares of the financial services provider’s stock after buying an additional 63,463 shares during the period. Patten & Patten Inc. TN’s holdings in Charles Schwab were worth $6,751,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SCHW. Alliance Wealth Advisors LLC lifted its position in Charles Schwab by 2.7% during the third quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock worth $347,000 after buying an additional 142 shares during the period. 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. Arcataur Capital Management LLC raised its stake in Charles Schwab by 2.3% during the third quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock worth $431,000 after purchasing an additional 150 shares during the period. Tandem Capital Management Corp ADV boosted its holdings in shares of Charles Schwab by 0.3% in the 3rd quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider’s stock valued at $3,210,000 after purchasing an additional 150 shares during the last quarter. Finally, Ascent Wealth Partners LLC grew its stake in shares of Charles Schwab by 0.7% during the 2nd quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock valued at $1,721,000 after buying an additional 164 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity

In related news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of Charles Schwab stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $65.10, for a total value of $802,032.00. Following the sale, the director now directly owns 562,129 shares in the company, valued at $36,594,597.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the sale, the director now directly owns 562,129 shares in the company, valued at $36,594,597.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,465 shares of company stock valued at $8,050,109. 6.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SCHW. Bank of America reduced their target price on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a report on Wednesday, October 16th. Jefferies Financial Group cut their target price on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Wells Fargo & Company upped their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, TD Cowen reaffirmed a “hold” rating and issued a $71.00 target price (down previously from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Charles Schwab currently has a consensus rating of “Hold” and a consensus price target of $73.94.

Charles Schwab Trading Up 1.0 %

NYSE:SCHW opened at $73.90 on Monday. The Charles Schwab Co. has a 52 week low of $53.49 and a 52 week high of $79.49. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The company has a market cap of $131.43 billion, a PE ratio of 28.87, a P/E/G ratio of 1.69 and a beta of 0.96. The business’s 50 day moving average is $67.24 and its two-hundred day moving average is $69.48.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the company earned $0.77 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. On average, analysts predict that The Charles Schwab Co. will post 3.11 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.35%. Charles Schwab’s dividend payout ratio is currently 39.06%.

Charles Schwab Company 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.