Oppenheimer & Co. Inc. Decreases Stock Position in The Charles Schwab Corporation (NYSE:SCHW)

Oppenheimer & Co. Inc. cut its position in The Charles Schwab Corporation (NYSE:SCHW) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,771 shares of the financial services provider’s stock after selling 1,706 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Charles Schwab were worth $7,027,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SCHW. Atwood & Palmer Inc. bought a new position in Charles Schwab during the 1st quarter valued at $25,000. WFA Asset Management Corp bought a new position in Charles Schwab during the 1st quarter valued at $33,000. Beacon Capital Management LLC boosted its stake in Charles Schwab by 53.1% during the 1st quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 169 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in Charles Schwab during the 4th quarter valued at $38,000. Finally, Atala Financial Inc bought a new position in Charles Schwab during the 4th quarter valued at $41,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Charles Schwab from $90.00 to $93.00 and gave the company an “outperform” rating in a research note on Tuesday, April 22nd. Citigroup upgraded shares of Charles Schwab from a “neutral” rating to a “buy” rating and increased their price objective for the company from $85.00 to $102.00 in a research note on Wednesday, April 2nd. UBS Group increased their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, April 22nd. Redburn Atlantic raised shares of Charles Schwab from a “sell” rating to a “neutral” rating and increased their target price for the stock from $65.00 to $82.00 in a report on Monday, June 9th. Finally, Morgan Stanley increased their target price on shares of Charles Schwab from $76.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.40.

Charles Schwab Stock Down 1.0%

SCHW stock opened at $88.30 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53. The Charles Schwab Corporation has a fifty-two week low of $61.01 and a fifty-two week high of $90.60. The firm’s 50-day simple moving average is $85.04 and its 200 day simple moving average is $80.15. The stock has a market cap of $160.44 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 0.95 and a beta of 0.94.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. The business had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.46 billion. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. During the same quarter last year, the company earned $0.74 EPS. As a group, sell-side analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.22%. Charles Schwab’s payout ratio is 32.73%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Nigel J. Murtagh sold 20,872 shares of the firm’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total transaction of $1,878,688.72. Following the transaction, the insider now owns 58,999 shares of the company’s stock, valued at approximately $5,310,499.99. This trade represents a 26.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank C. Herringer sold 3,592 shares of the firm’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $74.26, for a total transaction of $266,741.92. Following the transaction, the director now directly owns 172,162 shares in the company, valued at approximately $12,784,750.12. The trade was a 2.04% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,995 shares of company stock valued at $10,493,320. Company insiders own 6.30% of the company’s stock.

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.