Traynor Capital Management Inc. Has $615,000 Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Traynor Capital Management Inc. reduced its holdings in The Charles Schwab Co. (NYSE:SCHW) by 7.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 8,502 shares of the financial services provider’s stock after selling 638 shares during the quarter. Traynor Capital Management Inc.’s holdings in Charles Schwab were worth $615,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SCHW. Price T Rowe Associates Inc. MD boosted its stake in shares of Charles Schwab by 33.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock valued at $4,771,985,000 after purchasing an additional 17,369,091 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Charles Schwab by 4.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock valued at $2,132,454,000 after purchasing an additional 1,219,015 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Charles Schwab by 1.6% in the 4th quarter. Fisher Asset Management LLC now owns 18,627,667 shares of the financial services provider’s stock valued at $1,281,584,000 after purchasing an additional 296,317 shares during the last quarter. Norges Bank bought a new stake in shares of Charles Schwab in the 4th quarter valued at $950,192,000. Finally, Putnam Investments LLC boosted its stake in shares of Charles Schwab by 4.8% in the 4th quarter. Putnam Investments LLC now owns 12,237,705 shares of the financial services provider’s stock valued at $841,954,000 after purchasing an additional 560,110 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Performance

NYSE SCHW opened at $74.53 on Tuesday. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49. The company has a 50-day simple moving average of $74.37 and a 200 day simple moving average of $69.59. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42. The company has a market capitalization of $132.46 billion, a PE ratio of 31.18, a price-to-earnings-growth ratio of 1.13 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Charles Schwab had a net margin of 26.14% and a return on equity of 19.25%. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.71 billion. On average, research analysts predict that The Charles Schwab Co. will post 3.25 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.34%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Insider Buying and Selling

In related news, Chairman Charles R. Schwab sold 89,275 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.62, for a total transaction of $6,661,700.50. Following the completion of the sale, the chairman now owns 30,641,981 shares in the company, valued at $2,286,504,622.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $72.49, for a total value of $652,410.00. Following the completion of the transaction, the director now owns 570,657 shares in the company, valued at $41,366,925.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 89,275 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $74.62, for a total transaction of $6,661,700.50. Following the completion of the transaction, the chairman now owns 30,641,981 shares of the company’s stock, valued at $2,286,504,622.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 658,663 shares of company stock worth $48,997,146. Insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Citigroup upped their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. UBS Group increased their target price on shares of Charles Schwab from $87.00 to $91.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Morgan Stanley increased their target price on shares of Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. TD Cowen cut their target price on shares of Charles Schwab from $92.00 to $88.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Finally, Barclays increased their target price on shares of Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $74.65.

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.