Aviso Wealth Management Cuts Position in The Charles Schwab Co. (NYSE:SCHW)

Aviso Wealth Management lessened its stake in The Charles Schwab Co. (NYSE:SCHW) by 7.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,719 shares of the financial services provider’s stock after selling 1,230 shares during the quarter. Aviso Wealth Management’s holdings in Charles Schwab were worth $1,158,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Country Trust Bank purchased a new position in shares of Charles Schwab in the 2nd quarter valued at about $26,000. American Capital Advisory LLC acquired a new position in Charles Schwab during the second quarter worth about $27,000. Fortitude Family Office LLC lifted its holdings in shares of Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 192 shares in the last quarter. CGC Financial Services LLC acquired a new stake in shares of Charles Schwab in the second quarter valued at approximately $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in shares of Charles Schwab during the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 0.9 %

Shares of NYSE SCHW opened at $64.42 on Friday. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49. The firm has a fifty day moving average of $64.10 and a 200-day moving average of $69.84. The stock has a market capitalization of $114.57 billion, a PE ratio of 26.95, a P/E/G ratio of 1.21 and a beta of 0.97. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same period in the previous year, the company earned $0.75 EPS. The business’s quarterly revenue was up .7% compared to the same quarter last year. On average, analysts anticipate that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.55%. Charles Schwab’s dividend payout ratio is presently 41.84%.

Analyst Upgrades and Downgrades

SCHW has been the topic of a number of recent research reports. Bank of America reduced their target price on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 17th. Piper Sandler lowered Charles Schwab from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $80.00 to $64.00 in a research note on Monday, July 29th. The Goldman Sachs Group cut their target price on shares of Charles Schwab from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday. Barclays decreased their price target on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 17th. Finally, TD Cowen reissued a “hold” rating and issued a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $73.31.

Insider Activity

In related news, insider Jonathan S. Beatty sold 780 shares of Charles Schwab stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the transaction, the insider now owns 18,069 shares in the company, valued at approximately $1,355,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on Friday, July 19th. The shares were sold at an average price of $61.96, for a total transaction of $557,640.00. Following the transaction, the director now owns 567,057 shares in the company, valued at approximately $35,134,851.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan S. Beatty sold 780 shares of Charles Schwab stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the transaction, the insider now owns 18,069 shares in the company, valued at approximately $1,355,175. The disclosure for this sale can be found here. Insiders sold 99,636 shares of company stock valued at $6,457,104 in the last ninety days. Company insiders own 6.60% of the company’s stock.

Charles Schwab Company 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.