Strata Wealth Advisors LLC Cuts Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Strata Wealth Advisors LLC trimmed its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,057 shares of the financial services provider’s stock after selling 533 shares during the period. Charles Schwab accounts for about 0.8% of Strata Wealth Advisors LLC’s holdings, making the stock its 17th biggest holding. Strata Wealth Advisors LLC’s holdings in Charles Schwab were worth $2,436,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Charles Schwab by 0.9% in the first quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock valued at $8,750,473,000 after purchasing an additional 1,042,823 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Charles Schwab by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after purchasing an additional 2,946,327 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Charles Schwab by 1.6% in the fourth quarter. Fisher Asset Management LLC now owns 18,623,505 shares of the financial services provider’s stock worth $1,281,297,000 after buying an additional 292,155 shares during the last quarter. Putnam Investments LLC increased its stake in shares of Charles Schwab by 4.8% in the fourth quarter. Putnam Investments LLC now owns 12,237,705 shares of the financial services provider’s stock worth $841,954,000 after buying an additional 560,110 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Charles Schwab by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 11,668,610 shares of the financial services provider’s stock valued at $802,800,000 after acquiring an additional 1,373,223 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SCHW shares. UBS Group cut their target price on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft increased their target price on Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. JMP Securities dropped their price target on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a research report on Tuesday, July 23rd. Wells Fargo & Company assumed coverage on Charles Schwab in a research note on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price objective on the stock. Finally, Piper Sandler cut shares of Charles Schwab from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $80.00 to $64.00 in a report on Monday, July 29th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and an average price target of $73.75.

Charles Schwab Trading Down 0.7 %

Shares of NYSE SCHW opened at $64.95 on Tuesday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49. The company has a market cap of $115.43 billion, a price-to-earnings ratio of 27.18, a P/E/G ratio of 1.19 and a beta of 0.97. The business has a fifty day simple moving average of $64.08 and a 200-day simple moving average of $69.93.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. The company had revenue of $4.69 billion during 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%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the company posted $0.75 earnings per share. Sell-side analysts predict that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.54%. Charles Schwab’s dividend payout ratio is 41.84%.

Insider Transactions at Charles Schwab

In related news, CEO Walter W. Bettinger acquired 25,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were purchased at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the purchase, the chief executive officer now owns 827,377 shares in the company, valued at $54,822,000.02. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Walter W. Bettinger bought 25,000 shares of the stock in a transaction on Wednesday, July 17th. The shares were purchased at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the completion of the purchase, the chief executive officer now directly owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, President Richard A. Wurster purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were purchased at an average cost of $62.05 per share, with a total value of $620,500.00. Following the completion of the purchase, the president now directly owns 144,228 shares in the company, valued at $8,949,347.40. The disclosure for this purchase can be found here. Insiders sold 99,636 shares of company stock valued at $6,457,104 over the last three months. 6.60% of the stock is owned by corporate insiders.

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.