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

Wealth Alliance decreased its holdings in The Charles Schwab Co. (NYSE:SCHW) by 4.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 18,650 shares of the financial services provider’s stock after selling 889 shares during the period. Wealth Alliance’s holdings in Charles Schwab were worth $1,374,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Nelson Capital Management LLC raised its holdings in Charles Schwab by 0.4% in the first quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock valued at $2,729,000 after buying an additional 141 shares during the period. Abbrea Capital LLC raised its holdings in Charles Schwab by 2.5% in the first quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock valued at $418,000 after buying an additional 142 shares during the period. Ironwood Financial llc raised its holdings in Charles Schwab by 1.6% in the first quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock valued at $737,000 after buying an additional 160 shares during the period. Ascent Wealth Partners LLC raised its holdings in Charles Schwab by 0.7% in the second quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock valued at $1,721,000 after buying an additional 164 shares during the period. Finally, Sculati Wealth Management LLC raised its holdings in Charles Schwab by 0.4% in the fourth quarter. Sculati Wealth Management LLC now owns 42,971 shares of the financial services provider’s stock valued at $2,956,000 after buying an additional 165 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $65.10, for a total value of $802,032.00. Following the sale, the director now directly owns 562,129 shares in the company, valued at $36,594,597.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Paul V. Woolway sold 1,150 shares of Charles Schwab stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $65.20, for a total transaction of $74,980.00. Following the sale, the insider now directly owns 61,887 shares in the company, valued at $4,035,032.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 12,320 shares of Charles Schwab stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $65.10, for a total transaction of $802,032.00. Following the sale, the director now owns 562,129 shares in the company, valued at $36,594,597.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,636 shares of company stock worth $6,533,064. 6.60% of the stock is owned by insiders.

Charles Schwab Stock Performance

Charles Schwab stock opened at $63.84 on Wednesday. The company has a market cap of $113.46 billion, a PE ratio of 26.71, a P/E/G ratio of 1.16 and a beta of 0.97. The company has a fifty day moving average price of $64.93 and a two-hundred day moving average price of $70.03. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49.

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, topping analysts’ consensus estimates of $0.72 by $0.01. The firm 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%. The firm’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 earnings per share. Research analysts expect that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s payout ratio is 41.84%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Barclays lowered their price objective on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 17th. Bank of America lowered their price objective on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research report on Wednesday, July 17th. StockNews.com downgraded shares of Charles Schwab from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. TD Cowen reaffirmed a “hold” rating and issued a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company assumed coverage on shares of Charles Schwab in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and an average price target of $73.75.

Charles Schwab 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.