Sterling Investment Advisors Ltd. Sells 9,249 Shares of The Charles Schwab Co. (NYSE:SCHW)

Sterling Investment Advisors Ltd. reduced its position in The Charles Schwab Co. (NYSE:SCHW) by 20.2% in the third quarter, HoldingsChannel.com reports. The firm owned 36,451 shares of the financial services provider’s stock after selling 9,249 shares during the period. Sterling Investment Advisors Ltd.’s holdings in Charles Schwab were worth $2,362,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SCHW. Country Trust Bank bought a new position in Charles Schwab in the 2nd quarter worth approximately $26,000. American Capital Advisory LLC bought a new position in shares of Charles Schwab during the second quarter worth $27,000. Fortitude Family Office LLC grew its stake in Charles Schwab by 97.5% during the second 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 in the last quarter. CGC Financial Services LLC bought a new stake in Charles Schwab in the 2nd quarter valued at $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in Charles Schwab in the 2nd quarter worth $29,000. 84.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SCHW shares. UBS Group cut their price objective on Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Bank of America cut their price target on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a report on Wednesday, October 16th. Barclays boosted their target price on shares of Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Piper Sandler boosted their price objective on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Finally, Cowen lifted their target price on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $73.94.

Insider Buying and Selling at Charles Schwab

In other news, insider Paul V. Woolway sold 1,150 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $65.20, for a total transaction of $74,980.00. Following the sale, the insider now owns 61,887 shares in the company, valued at approximately $4,035,032.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Paul V. Woolway sold 1,150 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total value of $74,980.00. Following the transaction, the insider now directly owns 61,887 shares of the company’s stock, valued at $4,035,032.40. This represents a 0.00 % decrease in their position. The transaction 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 the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 182,001 shares of company stock worth $12,512,592. 6.60% of the stock is owned by insiders.

Charles Schwab Stock Down 1.1 %

Shares of NYSE:SCHW traded down $0.77 during trading on Friday, reaching $71.82. The stock had a trading volume of 4,503,918 shares, compared to its average volume of 8,060,867. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $127.64 billion, a P/E ratio of 30.05, a PEG ratio of 1.63 and a beta of 0.97. The firm’s 50-day simple moving average is $65.73 and its 200 day simple moving average is $69.50. The Charles Schwab Co. has a one year low of $49.16 and a one year high of $79.49.

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

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.39%. The ex-dividend date is Friday, November 8th. Charles Schwab’s dividend payout ratio is currently 41.84%.

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.