The Charles Schwab Co. (NYSE:SCHW) Shares Acquired by Sweeney & Michel LLC

Sweeney & Michel LLC increased its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 25.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,529 shares of the financial services provider’s stock after purchasing an additional 1,330 shares during the period. Sweeney & Michel LLC’s holdings in Charles Schwab were worth $466,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. &PARTNERS purchased a new position in shares of Charles Schwab in the first quarter valued at approximately $281,000. Global Assets Advisory LLC purchased a new position in Charles Schwab in the 1st quarter valued at $1,060,000. Annex Advisory Services LLC boosted its stake in Charles Schwab by 20.5% during the 1st quarter. Annex Advisory Services LLC now owns 5,943 shares of the financial services provider’s stock worth $430,000 after purchasing an additional 1,011 shares during the last quarter. Dynamic Advisor Solutions LLC grew its holdings in shares of Charles Schwab by 5.2% during the first quarter. Dynamic Advisor Solutions LLC now owns 17,826 shares of the financial services provider’s stock worth $1,290,000 after buying an additional 889 shares in the last quarter. Finally, DLK Investment Management LLC raised its position in shares of Charles Schwab by 1.3% in the first quarter. DLK Investment Management LLC now owns 58,378 shares of the financial services provider’s stock valued at $4,223,000 after buying an additional 775 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SCHW shares. Raymond James lowered their price target on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Bank of America dropped their price target on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research report on Wednesday, October 16th. TD Cowen reissued a “hold” rating and set a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Morgan Stanley cut their target price on Charles Schwab from $70.00 to $68.00 and set an “equal weight” rating for the company in a research note on Monday, October 7th. Finally, The Goldman Sachs Group lifted their price target on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $73.59.

Insider Activity at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the sale, the director now owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the transaction, the director now owns 554,929 shares of the company’s stock, valued at $35,543,202.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 182,001 shares of company stock worth $12,512,592 in the last three months. 6.60% of the stock is owned by company insiders.

Charles Schwab Trading Down 1.2 %

Shares of Charles Schwab stock traded down $0.83 on Tuesday, reaching $70.04. The company had a trading volume of 269,044 shares, compared to its average volume of 8,066,296. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a market cap of $124.56 billion, a PE ratio of 27.68, a PEG ratio of 1.65 and a beta of 0.97. The firm’s 50 day moving average price is $65.16 and its two-hundred day moving average price is $69.49. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49.

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

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s payout ratio 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.