Farther Finance Advisors LLC Cuts Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Farther Finance Advisors LLC cut its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,599 shares of the financial services provider’s stock after selling 1,243 shares during the period. Farther Finance Advisors LLC’s holdings in Charles Schwab were worth $1,953,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. 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. Biechele Royce Advisors raised its stake in shares of Charles Schwab by 10.7% in the 2nd quarter. Biechele Royce Advisors now owns 191,470 shares of the financial services provider’s stock valued at $14,109,000 after acquiring an additional 18,467 shares during the period. Spire Wealth Management lifted its holdings in shares of Charles Schwab by 374.6% during the 2nd quarter. Spire Wealth Management now owns 90,141 shares of the financial services provider’s stock valued at $6,630,000 after acquiring an additional 71,147 shares in the last quarter. Sage Mountain Advisors LLC boosted its position in Charles Schwab by 22.7% during the 2nd quarter. Sage Mountain Advisors LLC now owns 6,378 shares of the financial services provider’s stock worth $470,000 after purchasing an additional 1,178 shares during the period. Finally, Private Ocean LLC increased its holdings in Charles Schwab by 26.1% in the 2nd quarter. Private Ocean LLC now owns 8,746 shares of the financial services provider’s stock valued at $644,000 after purchasing an additional 1,809 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.10, for a total value of $802,032.00. Following the sale, the director now owns 562,129 shares in the company, valued at $36,594,597.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Bernard J. Clark sold 8,164 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $75.00, for a total value of $612,300.00. Following the completion of the sale, the insider now directly owns 121,666 shares of the company’s stock, valued at approximately $9,124,950. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.10, for a total transaction of $802,032.00. Following the transaction, the director now owns 562,129 shares in the company, valued at approximately $36,594,597.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 107,800 shares of company stock worth $7,145,364. Insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. JMP Securities decreased their target price on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research report on Tuesday, July 23rd. StockNews.com lowered shares of Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Barclays decreased their target price on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, TD Cowen reissued a “hold” rating and issued a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $74.00.

Charles Schwab Stock Performance

SCHW stock traded up $0.17 during trading on Friday, hitting $65.10. 6,549,183 shares of the company’s stock traded hands, compared to its average volume of 8,391,682. The stock has a market capitalization of $115.78 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 1.22 and a beta of 0.99. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week high of $79.49. The stock has a fifty day moving average price of $67.41 and a two-hundred day moving average price of $70.10. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. Charles Schwab’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the company posted $0.75 earnings per share. As a group, equities analysts anticipate that The Charles Schwab Co. will post 3.05 EPS for the current fiscal 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 1.54%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s payout ratio is 41.84%.

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.