The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Avestar Capital LLC

Avestar Capital LLC cut its position in The Charles Schwab Co. (NYSE:SCHW) by 10.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,700 shares of the financial services provider’s stock after selling 745 shares during the quarter. Avestar Capital LLC’s holdings in Charles Schwab were worth $434,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Swedbank AB purchased a new stake in shares of Charles Schwab during the first quarter worth $40,738,000. Cetera Investment Advisers raised its position in Charles Schwab by 255.8% in the 1st quarter. Cetera Investment Advisers now owns 392,899 shares of the financial services provider’s stock valued at $28,422,000 after purchasing an additional 282,474 shares in the last quarter. Cetera Advisors LLC boosted its stake in shares of Charles Schwab by 126.0% in the 1st quarter. Cetera Advisors LLC now owns 65,976 shares of the financial services provider’s stock valued at $4,773,000 after buying an additional 36,782 shares during the period. Cetera Advisor Networks LLC increased its stake in shares of Charles Schwab by 7.0% during the first quarter. Cetera Advisor Networks LLC now owns 247,996 shares of the financial services provider’s stock worth $17,940,000 after buying an additional 16,332 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in Charles Schwab by 2.6% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 258,143 shares of the financial services provider’s stock worth $18,674,000 after acquiring an additional 6,457 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Up 0.4 %

NYSE:SCHW opened at $82.60 on Thursday. The Charles Schwab Co. has a 52 week low of $55.59 and a 52 week high of $82.65. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The company has a market cap of $147.00 billion, a PE ratio of 32.27, a P/E/G ratio of 1.77 and a beta of 0.96. The business’s 50 day moving average is $71.66 and its two-hundred day moving average is $69.94.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts predict that The Charles Schwab Co. will post 3.12 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. Charles Schwab’s payout ratio is currently 39.06%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SCHW. Wells Fargo & Company raised their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Bank of America cut their price target on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 16th. Morgan Stanley increased their price objective on Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Barclays increased their price target on shares of Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, JMP Securities boosted their price objective on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $74.18.

Insider Activity

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the transaction, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. This represents a 1.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the sale, the insider now directly owns 18,069 shares in the company, valued at approximately $1,481,838.69. This trade represents a 11.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,968 shares of company stock valued at $9,419,271. 6.60% of the stock is currently owned by insiders.

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.