The Charles Schwab Co. (NYSE:SCHW) Position Reduced by Aviso Wealth Management

18 Nov 2024, 17:32 by Michael Walen · The Markets Daily

Aviso Wealth Management decreased its position in shares of The Charles Schwab Co. (NYSE:SCHW – Free Report) by 6.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,644 shares of the financial services provider’s stock after selling 1,075 shares during the period. Aviso Wealth Management’s holdings in Charles Schwab were worth $949,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. grew its position 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 worth $25,000 after buying an additional 149 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in Charles Schwab during the 3rd quarter worth approximately $25,000. Country Trust Bank purchased a new position in Charles Schwab during the 2nd quarter worth approximately $26,000. American Capital Advisory LLC purchased a new position in Charles Schwab during the 2nd quarter worth approximately $27,000. Finally, Fortitude Family Office LLC grew its position in Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 192 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,500 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the transaction, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This trade represents a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the transaction, the director now directly owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. This trade represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,645 shares of company stock valued at $7,440,627 over the last quarter. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

Shares of Charles Schwab stock opened at $80.64 on Monday. The Charles Schwab Co. has a 1-year low of $55.09 and a 1-year high of $82.50. The firm’s 50-day moving average price is $68.74 and its two-hundred day moving average price is $69.59. The stock has a market capitalization of $143.51 billion, a price-to-earnings ratio of 31.50, a P/E/G ratio of 1.76 and a beta of 0.96. The company has a current ratio of 0.47, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW – Get Free Report) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the business earned $0.77 earnings per share. Charles Schwab’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities analysts predict that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.24%. Charles Schwab’s dividend payout ratio is currently 39.06%.

Analysts Set New Price Targets

Several equities analysts have weighed in on SCHW shares. The Goldman Sachs Group lifted their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Piper Sandler lifted their target price on shares of Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Jefferies Financial Group decreased their target price on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Raymond James decreased their target price on shares of Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Finally, Morgan Stanley lifted their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $74.18.

Read Our Latest Analysis on Charles Schwab

About Charles Schwab

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