Armstrong Henry H Associates Inc. Sells 2,000 Shares of The Charles Schwab Co. (NYSE:SCHW)

Armstrong Henry H Associates Inc. cut its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 10.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,591 shares of the financial services provider’s stock after selling 2,000 shares during the quarter. Armstrong Henry H Associates Inc.’s holdings in Charles Schwab were worth $1,296,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SCHW. Argus Investors Counsel Inc. increased its stake in Charles Schwab by 4.0% in the fourth quarter. Argus Investors Counsel Inc. now owns 26,731 shares of the financial services provider’s stock valued at $1,839,000 after acquiring an additional 1,035 shares during the last quarter. Trust Point Inc. bought a new position in Charles Schwab in the fourth quarter valued at approximately $474,000. Ballentine Partners LLC increased its stake in Charles Schwab by 37.7% in the fourth quarter. Ballentine Partners LLC now owns 20,102 shares of the financial services provider’s stock valued at $1,383,000 after acquiring an additional 5,501 shares during the last quarter. Advisory Alpha LLC bought a new position in Charles Schwab in the fourth quarter valued at approximately $262,000. Finally, KG&L Capital Management LLC bought a new position in Charles Schwab in the fourth quarter valued at approximately $236,000. 84.38% of the stock is owned by institutional investors.

Charles Schwab Price Performance

Shares of NYSE:SCHW traded down $0.32 during trading on Friday, reaching $63.39. The company had a trading volume of 10,258,521 shares, compared to its average volume of 12,778,258. The company has a fifty day moving average of $70.99 and a two-hundred day moving average of $70.05. The stock has a market capitalization of $112.66 billion, a P/E ratio of 26.52, a price-to-earnings-growth ratio of 1.19 and a beta of 0.99. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.69.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.65%. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts forecast that The Charles Schwab Co. will post 3.09 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Friday, August 9th. Charles Schwab’s dividend payout ratio is currently 41.84%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. TD Cowen restated a “hold” rating and issued a $71.00 target price (down previously from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods upgraded shares of Charles Schwab from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $76.00 to $84.00 in a report on Monday, July 8th. JMP Securities cut their price target on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a report on Tuesday, July 23rd. JPMorgan Chase & Co. cut their price target on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Finally, Citigroup lifted their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $74.27.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Bernard J. Clark sold 77,431 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total transaction of $5,492,955.14. Following the completion of the sale, the insider now owns 121,666 shares of the company’s stock, valued at approximately $8,630,986.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Charles Schwab news, insider Bernard J. Clark sold 77,431 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total transaction of $5,492,955.14. Following the completion of the sale, the insider now owns 121,666 shares of the company’s stock, valued at approximately $8,630,986.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Walter W. Bettinger bought 25,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was bought at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the transaction, the chief executive officer now owns 827,377 shares in the company, valued at approximately $54,822,000.02. The disclosure for this purchase can be found here. Insiders sold 352,489 shares of company stock valued at $25,598,796 in the last quarter. Company insiders own 6.60% of the company’s stock.

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.