Novare Capital Management LLC Lowers Position in The Charles Schwab Co. (NYSE:SCHW)

Novare Capital Management LLC decreased its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 16.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,238 shares of the financial services provider’s stock after selling 2,286 shares during the quarter. Novare Capital Management LLC’s holdings in Charles Schwab were worth $832,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Washington Trust Advisors Inc. boosted its position in shares of Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 149 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Charles Schwab during the third quarter valued at $25,000. Prospera Private Wealth LLC bought a new position in Charles Schwab during the third quarter valued at $31,000. Future Financial Wealth Managment LLC purchased a new position in shares of Charles Schwab in the 3rd quarter worth $32,000. Finally, Hazlett Burt & Watson Inc. bought a new stake in shares of Charles Schwab in the 3rd quarter worth about $33,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Down 0.5 %

Shares of NYSE:SCHW opened at $81.67 on Friday. The business’s 50 day moving average is $77.81 and its 200 day moving average is $70.88. The stock has a market cap of $145.34 billion, a P/E ratio of 27.31, a price-to-earnings-growth ratio of 1.46 and a beta of 0.99. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $83.35. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5,190,822.51 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 EPS. Sell-side analysts predict that The Charles Schwab Co. will post 4.09 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on SCHW shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup raised their price objective on Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday. The Goldman Sachs Group boosted their target price on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Bank of America lowered their price target on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research report on Wednesday, October 16th. Finally, Raymond James cut their price objective on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $83.83.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the sale, the insider now owns 18,069 shares in the company, valued at $1,391,674.38. This represents a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher V. Dodds sold 9,284 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $81.43, for a total value of $755,996.12. Following the sale, the director now owns 442,807 shares of the company’s stock, valued at $36,057,774.01. This trade represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,466 shares of company stock worth $3,352,884 in the last three months. Corporate 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.