Golden State Equity Partners Sells 7,904 Shares of The Charles Schwab Co. (NYSE:SCHW)

Golden State Equity Partners cut its position in The Charles Schwab Co. (NYSE:SCHW) by 42.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 10,766 shares of the financial services provider’s stock after selling 7,904 shares during the period. Golden State Equity Partners’ holdings in Charles Schwab were worth $698,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SCHW. Country Trust Bank bought a new position in shares of Charles Schwab during the second quarter worth about $26,000. American Capital Advisory LLC bought a new position in shares of Charles Schwab during the second quarter worth about $27,000. Fortitude Family Office LLC raised its position in shares of Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 192 shares during the last quarter. CGC Financial Services LLC bought a new position in shares of Charles Schwab during the second quarter worth about $29,000. Finally, Mizuho Securities Co. Ltd. bought a new position in shares of Charles Schwab during the second quarter worth about $29,000. 84.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SCHW shares. JMP Securities raised their price objective on Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lowered their price objective on Charles Schwab from $77.00 to $76.00 in a research report on Tuesday, October 15th. Bank of America lowered their target price on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a report on Wednesday, October 16th. TD Cowen reiterated a “hold” rating and issued a $71.00 target price (down from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. lifted their target price on Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.94.

Charles Schwab Trading Down 1.1 %

Shares of Charles Schwab stock opened at $71.10 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The Charles Schwab Co. has a 52 week low of $50.30 and a 52 week high of $79.49. The stock has a 50 day moving average price of $66.13 and a two-hundred day moving average price of $69.52. The stock has a market capitalization of $126.36 billion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 1.65 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. Charles Schwab’s revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that The Charles Schwab Co. will post 3.11 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.41%. Charles Schwab’s dividend payout ratio (DPR) is currently 41.84%.

Insider Buying and Selling

In related news, 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 transaction of $576,450.00. Following the completion of the sale, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Charles Schwab news, 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 completion of the transaction, the director now owns 554,929 shares in the company, valued at $35,543,202.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the transaction, the chairman now directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,465 shares of company stock worth $8,050,109. 6.60% of the stock is owned by corporate 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.