Asset Advisors Investment Management LLC Sells 7,845 Shares of The Charles Schwab Co. (NYSE:SCHW)

Asset Advisors Investment Management LLC lessened its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.5% in the third quarter, HoldingsChannel.com reports. The firm owned 166,207 shares of the financial services provider’s stock after selling 7,845 shares during the quarter. Asset Advisors Investment Management LLC’s holdings in Charles Schwab were worth $10,772,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Alliance Wealth Advisors LLC raised its stake in Charles Schwab by 2.7% during the third quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock worth $347,000 after buying an additional 142 shares during the last quarter. GS Investments Inc. increased its holdings in Charles Schwab by 0.3% in the third quarter. GS Investments Inc. now owns 57,434 shares of the financial services provider’s stock worth $3,722,000 after purchasing an additional 146 shares in the last quarter. Washington Trust Advisors Inc. lifted its stake in Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after buying an additional 149 shares during the period. Arcataur Capital Management LLC boosted its holdings in shares of Charles Schwab by 2.3% during the 3rd quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock worth $431,000 after buying an additional 150 shares in the last quarter. Finally, Tandem Capital Management Corp ADV grew its position in shares of Charles Schwab by 0.3% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider’s stock worth $3,210,000 after buying an additional 150 shares during the period. Institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. 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. Deutsche Bank Aktiengesellschaft boosted their target price on Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 11th. 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 report on Wednesday, October 16th. Finally, Cowen increased 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. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $79.75.

Charles Schwab Price Performance

Shares of SCHW stock opened at $82.83 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market capitalization of $147.41 billion, a P/E ratio of 32.36, a P/E/G ratio of 1.79 and a beta of 0.96. The stock has a 50 day moving average price of $75.55 and a 200 day moving average price of $70.41. The Charles Schwab Co. has a 52-week low of $59.67 and a 52-week high of $83.35.

Charles Schwab (NYSE:SCHW) last announced 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 company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the firm earned $0.77 earnings per share. Charles Schwab’s revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts predict that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Announces Dividend

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

Insider Activity at Charles Schwab

In related news, insider Nigel J. Murtagh sold 12,739 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total value of $1,034,024.63. Following the completion of the transaction, the insider now directly owns 59,092 shares in the company, valued at approximately $4,796,497.64. This represents a 17.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the transaction, the director now owns 554,929 shares in the company, valued at $35,543,202.45. This trade represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,968 shares of company stock worth $9,419,271. 6.60% of the stock is owned by company insiders.

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.