The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lessened its stake in The Charles Schwab Co. (NYSE:SCHW) by 24.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 100,308 shares of the financial services provider’s stock after selling 32,610 shares during the period. Oppenheimer & Co. Inc.’s holdings in Charles Schwab were worth $6,501,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. lifted its stake in Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 149 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Charles Schwab during the third quarter worth $25,000. Country Trust Bank acquired a new stake in Charles Schwab in the second quarter valued at $26,000. American Capital Advisory LLC acquired a new position in shares of Charles Schwab during the 2nd quarter worth about $27,000. Finally, Fortitude Family Office LLC increased its holdings in shares of Charles Schwab by 97.5% in the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 2.5 %

Charles Schwab stock opened at $80.19 on Friday. The stock’s 50 day moving average price is $68.05 and its 200 day moving average price is $69.54. The company has a market cap of $142.71 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 1.71 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.42. The Charles Schwab Co. has a 1-year low of $55.09 and a 1-year high of $82.50.

Charles Schwab (NYSE:SCHW) last posted its quarterly 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 16.92%. The business 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 posted $0.77 EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, sell-side analysts predict that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.25%. Charles Schwab’s payout ratio is 39.06%.

Insider Buying and Selling

In related news, insider Jonathan S. Beatty sold 2,500 shares of the 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 sale, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This represents a 12.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab 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 transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. The trade was a 0.10 % 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 in the last quarter. Company insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SCHW. Keefe, Bruyette & Woods upped their price target on Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Citigroup dropped their target price 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. Morgan Stanley boosted their price target on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. lifted their target price on Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Piper Sandler upped their target price on Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Charles Schwab has an average rating of “Hold” and a consensus target price of $74.18.

Charles Schwab 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.