Alpha Cubed Investments LLC lessened its position in Charles Schwab Co. (NYSE:SCHW) by 70.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,557 shares of the financial services provider’s stock after selling 10,797 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Charles Schwab were worth $238,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Bank of The West increased its holdings in Charles Schwab by 1.9% during the 4th quarter. Bank of The West now owns 105,131 shares of the financial services provider’s stock worth $5,400,000 after purchasing an additional 1,948 shares during the period. Atria Investments LLC increased its holdings in Charles Schwab by 11.8% during the 4th quarter. Atria Investments LLC now owns 18,096 shares of the financial services provider’s stock worth $930,000 after purchasing an additional 1,907 shares during the period. State of Alaska Department of Revenue increased its holdings in Charles Schwab by 311.7% during the 4th quarter. State of Alaska Department of Revenue now owns 141,615 shares of the financial services provider’s stock worth $7,272,000 after purchasing an additional 107,221 shares during the period. Peregrine Asset Advisers Inc. purchased a new stake in Charles Schwab during the 4th quarter worth about $5,306,000. Finally, Aviance Capital Partners LLC increased its holdings in Charles Schwab by 52.1% during the 4th quarter. Aviance Capital Partners LLC now owns 59,944 shares of the financial services provider’s stock worth $3,079,000 after purchasing an additional 20,531 shares during the period. Hedge funds and other institutional investors own 80.77% of the company’s stock.
Several equities research analysts have weighed in on the company. Credit Suisse Group cut their price target on Charles Schwab from $62.00 to $61.00 and set an “outperform” rating on the stock in a report on Monday, April 23rd. Jefferies Group restated a “buy” rating and set a $65.00 price target on shares of Charles Schwab in a report on Friday, April 20th. Morgan Stanley upped their price target on Charles Schwab from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, April 10th. Argus upped their price target on Charles Schwab from $59.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Finally, SunTrust Banks restated a “buy” rating on shares of Charles Schwab in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. Charles Schwab has an average rating of “Hold” and an average target price of $55.53.
Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Monday, April 16th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Charles Schwab had a return on equity of 16.84% and a net margin of 28.80%. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 EPS. research analysts forecast that Charles Schwab Co. will post 2.43 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Friday, May 11th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, May 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.67%. Charles Schwab’s dividend payout ratio is currently 24.39%.
In related news, Chairman Charles R. Schwab sold 250,000 shares of the company’s stock in a transaction dated Monday, April 23rd. The stock was sold at an average price of $54.99, for a total value of $13,747,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marie A. Chandoha sold 31,386 shares of the company’s stock in a transaction dated Friday, April 20th. The shares were sold at an average price of $54.79, for a total value of $1,719,638.94. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,948,471 shares of company stock valued at $109,404,096. Insiders own 11.50% of the company’s stock.
Charles Schwab Company Profile
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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