Eqis Capital Management Inc. decreased its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 28.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,333 shares of the financial services provider’s stock after selling 9,342 shares during the quarter. Eqis Capital Management Inc.’s holdings in The Charles Schwab were worth $1,699,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Holloway Wealth Management LLC bought a new position in The Charles Schwab during the 2nd quarter worth approximately $25,000. Red Door Wealth Management LLC bought a new position in The Charles Schwab during the 2nd quarter worth approximately $26,000. Meridian Wealth Partners LLC bought a new stake in shares of The Charles Schwab in the 1st quarter valued at $25,000. Exchange Traded Concepts LLC bought a new stake in shares of The Charles Schwab in the 2nd quarter valued at $31,000. Finally, Baron Financial Group LLC increased its stake in shares of The Charles Schwab by 117.5% in the 1st quarter. Baron Financial Group LLC now owns 435 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 235 shares in the last quarter. Hedge funds and other institutional investors own 71.66% of the company’s stock.
Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of The Charles Schwab from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, June 2nd. Citigroup decreased their price target on shares of The Charles Schwab from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, July 19th. The Goldman Sachs Group lowered shares of The Charles Schwab from a “buy” rating to a “neutral” rating and set a $76.00 price target for the company. in a research note on Thursday, July 8th. boosted their price target on shares of The Charles Schwab from $93.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, July 12th. Finally, Zacks Investment Research lowered shares of The Charles Schwab from a “buy” rating to a “hold” rating and set a $77.00 price target for the company. in a research note on Tuesday, June 15th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $81.41.
SCHW opened at $75.59 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market capitalization of $136.60 billion, a price-to-earnings ratio of 31.89 and a beta of 1.05. The firm’s fifty day moving average price is $71.24 and its two-hundred day moving average price is $70.29. The Charles Schwab Co. has a 1 year low of $33.96 and a 1 year high of $76.37.
The Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, July 15th. The financial services provider reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.01). The company had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.46 billion. The Charles Schwab had a return on equity of 12.89% and a net margin of 28.88%. The Charles Schwab’s quarterly revenue was up 84.8% compared to the same quarter last year. During the same period last year, the firm posted $0.54 earnings per share. As a group, equities analysts anticipate that The Charles Schwab Co. will post 3.14 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 27th. Investors of record on Friday, August 13th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Thursday, August 12th. The Charles Schwab’s dividend payout ratio (DPR) is currently 29.39%.
The Charles Schwab Company Profile
The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.
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