The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Venturi Wealth Management LLC

Venturi Wealth Management LLC decreased its stake in The Charles Schwab Co. (NYSE:SCHW) by 93.5% in the 3rd quarter, Holdings Channel reports. The firm owned 607 shares of the financial services provider’s stock after selling 8,710 shares during the quarter. Venturi Wealth Management LLC’s holdings in Charles Schwab were worth $39,000 at the end of the most recent reporting period.

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

Charles Schwab Stock Performance

Shares of SCHW opened at $80.64 on Friday. The firm has a market cap of $143.51 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 1.71 and a beta of 0.96. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $68.38 and its two-hundred day moving average is $69.62. The Charles Schwab Co. has a 52-week low of $55.09 and a 52-week high of $82.50.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 EPS. Analysts forecast that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company 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. This represents a $1.00 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s dividend payout ratio is currently 39.06%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SCHW. Piper Sandler lifted their target price on shares of Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Citigroup cut their price objective on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, September 27th. JPMorgan Chase & Co. raised their target price on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Raymond James dropped their price target on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Finally, JMP Securities boosted their price objective on shares of Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $74.18.

Insider Buying and Selling at Charles Schwab

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