Strategic Advisors LLC lessened its holdings in shares of Charles Schwab Co. (NYSE:SCHW) by 7.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,806 shares of the financial services provider’s stock after selling 553 shares during the period. Strategic Advisors LLC’s holdings in Charles Schwab were worth $291,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc increased its holdings in Charles Schwab by 0.9% during the 3rd quarter. Vanguard Group Inc now owns 88,586,138 shares of the financial services provider’s stock valued at $4,354,008,000 after purchasing an additional 820,257 shares during the period. Northern Trust Corp increased its holdings in Charles Schwab by 2.1% during the 4th quarter. Northern Trust Corp now owns 16,655,792 shares of the financial services provider’s stock valued at $691,715,000 after purchasing an additional 336,557 shares during the period. Parnassus Investments CA increased its holdings in Charles Schwab by 22.3% during the 4th quarter. Parnassus Investments CA now owns 15,623,778 shares of the financial services provider’s stock valued at $648,856,000 after purchasing an additional 2,850,678 shares during the period. Harris Associates L P increased its holdings in Charles Schwab by 197.1% during the 4th quarter. Harris Associates L P now owns 13,940,097 shares of the financial services provider’s stock valued at $578,932,000 after purchasing an additional 9,248,471 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Charles Schwab by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 13,627,245 shares of the financial services provider’s stock valued at $564,801,000 after purchasing an additional 758,069 shares during the period. Institutional investors own 80.07% of the company’s stock.
NYSE:SCHW opened at $45.03 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 1.08 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $60.51 billion, a PE ratio of 18.38, a P/E/G ratio of 1.47 and a beta of 1.33. Charles Schwab Co. has a one year low of $37.83 and a one year high of $60.22.
Charles Schwab announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 30th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 6.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
SCHW has been the topic of a number of analyst reports. Zacks Investment Research cut Charles Schwab from a “hold” rating to a “sell” rating in a research report on Monday, January 14th. UBS Group cut Charles Schwab from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $48.00 to $42.00 in a research report on Wednesday, February 20th. ValuEngine cut Charles Schwab from a “hold” rating to a “sell” rating in a research report on Friday, February 22nd. Wolfe Research raised Charles Schwab from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 8th. Finally, Morgan Stanley dropped their price target on Charles Schwab from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, January 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $53.22.
In other Charles Schwab news, Chairman Charles R. Schwab sold 250,000 shares of the firm’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $47.04, for a total value of $11,760,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan M. Craig sold 3,740 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $46.52, for a total transaction of $173,984.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 356,417 shares of company stock valued at $16,663,522. 10.90% of the stock is owned by insiders.
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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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