HCR Wealth Advisors Cuts Stake in The Charles Schwab Co. (NYSE:SCHW)

HCR Wealth Advisors reduced its position in The Charles Schwab Co. (NYSE:SCHW) by 11.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,720 shares of the financial services provider’s stock after selling 1,663 shares during the quarter. HCR Wealth Advisors’ holdings in Charles Schwab were worth $937,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Charles Schwab by 0.9% during the first quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock worth $8,750,473,000 after buying an additional 1,042,823 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Charles Schwab by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after buying an additional 2,946,327 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Charles Schwab by 4.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock worth $2,132,454,000 after buying an additional 1,219,015 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Charles Schwab by 1.6% during the fourth quarter. Fisher Asset Management LLC now owns 18,623,505 shares of the financial services provider’s stock worth $1,281,297,000 after buying an additional 292,155 shares during the period. Finally, Norges Bank acquired a new position in Charles Schwab during the fourth quarter valued at $950,192,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Down 1.2 %

SCHW stock opened at $62.90 on Monday. The company has a market cap of $111.86 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 1.18 and a beta of 0.97. 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 Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49. The firm has a 50-day moving average of $66.44 and a two-hundred day moving average of $70.15.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. Charles Schwab’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 EPS. As a group, analysts forecast that The Charles Schwab Co. will post 3.05 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.59%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Analysts Set New Price Targets

Several research firms have commented on SCHW. Morgan Stanley lowered their price target on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. Jefferies Financial Group upped their price target on shares of Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a report on Monday, July 8th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $80.00 price target on shares of Charles Schwab in a report on Thursday, August 22nd. Barclays lowered their price target on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $74.00.

Insider Transactions at Charles Schwab

In other news, insider Bernard J. Clark sold 8,164 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $75.00, for a total transaction of $612,300.00. Following the completion of the sale, the insider now owns 121,666 shares in the company, valued at approximately $9,124,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Walter W. Bettinger acquired 25,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was purchased at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the transaction, the chief executive officer now owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bernard J. Clark sold 8,164 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $75.00, for a total transaction of $612,300.00. Following the transaction, the insider now directly owns 121,666 shares of the company’s stock, valued at approximately $9,124,950. The disclosure for this sale can be found here. Insiders sold 107,800 shares of company stock worth $7,145,364 in the last 90 days. Insiders own 6.60% of the company’s stock.

About Charles Schwab

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.