Capital Asset Advisory Services LLC Sells 443 Shares of The Charles Schwab Co. (NYSE:SCHW)

Capital Asset Advisory Services LLC reduced its stake in The Charles Schwab Co. (NYSE:SCHW) by 11.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,270 shares of the financial services provider’s stock after selling 443 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Charles Schwab were worth $235,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in 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 worth $4,771,985,000 after acquiring an additional 17,369,091 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in 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 worth $2,132,454,000 after acquiring an additional 1,219,015 shares during the last quarter. Fisher Asset Management LLC raised its holdings in 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 worth $1,281,584,000 after acquiring an additional 296,317 shares during the last quarter. Norges Bank purchased a new position in Charles Schwab in the 4th quarter worth approximately $950,192,000. Finally, Putnam Investments LLC raised its holdings in 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 worth $841,954,000 after acquiring an additional 560,110 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Stock Performance

Shares of NYSE:SCHW traded up $0.13 during midday trading on Friday, hitting $73.69. The company had a trading volume of 8,915,807 shares, compared to its average volume of 7,361,292. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market cap of $130.97 billion, a price-to-earnings ratio of 30.83, a PEG ratio of 1.13 and a beta of 0.96. The Charles Schwab Co. has a 12-month low of $48.66 and a 12-month high of $79.49. The company has a fifty day moving average of $74.42 and a two-hundred day moving average of $69.78.

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

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Thursday, May 9th. Charles Schwab’s dividend payout ratio is currently 41.84%.

Insider Buying and Selling

In related news, COO Joseph R. Martinetto sold 43,000 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $70.83, for a total value of $3,045,690.00. Following the completion of the transaction, the chief operating officer now owns 41,414 shares of the company’s stock, valued at approximately $2,933,353.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Charles Schwab news, COO Joseph R. Martinetto sold 43,000 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $70.83, for a total transaction of $3,045,690.00. Following the completion of the transaction, the chief operating officer now owns 41,414 shares of the company’s stock, valued at approximately $2,933,353.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Peter B. Crawford sold 5,482 shares of the stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $73.46, for a total transaction of $402,707.72. Following the transaction, the chief financial officer now directly owns 60,567 shares of the company’s stock, valued at approximately $4,449,251.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 658,663 shares of company stock valued at $48,997,146. Company insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of recent analyst reports. Piper Sandler boosted their price objective on shares of Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. JPMorgan Chase & Co. decreased their target price on shares of Charles Schwab from $89.00 to $81.00 and set an “overweight” rating for the company in a research note on Friday, May 31st. Bank of America boosted their target price on shares of Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a research note on Tuesday, April 16th. StockNews.com lowered shares of Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Finally, JMP Securities reiterated a “market outperform” rating and set a $80.00 target price on shares of Charles Schwab in a research note on Tuesday, May 28th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Hold” and an average price target of $75.56.

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.