Kovack Advisors Inc. Buys 386 Shares of The Charles Schwab Co. (NYSE:SCHW)

Kovack Advisors Inc. raised its stake in The Charles Schwab Co. (NYSE:SCHW) by 9.9% during the third quarter, HoldingsChannel.com reports. The fund owned 4,275 shares of the financial services provider’s stock after purchasing an additional 386 shares during the quarter. Kovack Advisors Inc.’s holdings in Charles Schwab were worth $277,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Washington Trust Advisors Inc. boosted its position in shares of Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 149 shares during the last quarter. Capital Performance Advisors LLP bought a new position in Charles Schwab during the third quarter valued at $25,000. Country Trust Bank purchased a new position in shares of Charles Schwab in the 2nd quarter worth $26,000. American Capital Advisory LLC bought a new stake in shares of Charles Schwab in the 2nd quarter worth about $27,000. Finally, Fortitude Family Office LLC raised its position 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 buying an additional 192 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the sale, the director now directly owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. This trade represents a 1.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan S. Beatty sold 2,500 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This trade represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,645 shares of company stock worth $7,440,627 over the last quarter. Insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SCHW. Morgan Stanley lifted their target price on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Wells Fargo & Company boosted their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Cowen increased their target price on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Citigroup reduced their price objective on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $74.18.

Charles Schwab Stock Up 0.6 %

NYSE:SCHW opened at $80.64 on Friday. The company’s 50-day simple moving average is $68.38 and its 200-day simple moving average is $69.62. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.47. The Charles Schwab Co. has a fifty-two week low of $55.09 and a fifty-two week high of $82.50. The stock has a market capitalization of $143.51 billion, a P/E ratio of 31.50, a P/E/G ratio of 1.71 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the business posted $0.77 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. On average, equities analysts anticipate that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is 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.