HCR Wealth Advisors Acquires 1,081 Shares of Charles Schwab Co. (SCHW)

HCR Wealth Advisors increased its holdings in Charles Schwab Co. (NYSE:SCHW) by 2.9% in the third quarter, HoldingsChannel reports. The firm owned 38,224 shares of the financial services provider’s stock after purchasing an additional 1,081 shares during the period. HCR Wealth Advisors’ holdings in Charles Schwab were worth $1,730,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Pittenger & Anderson Inc. lifted its stake in shares of Charles Schwab by 1.2% in the second quarter. Pittenger & Anderson Inc. now owns 164,316 shares of the financial services provider’s stock valued at $8,397,000 after buying an additional 1,995 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Charles Schwab in the second quarter valued at about $134,000. Argent Trust Co lifted its stake in shares of Charles Schwab by 55.8% in the second quarter. Argent Trust Co now owns 26,167 shares of the financial services provider’s stock valued at $1,337,000 after buying an additional 9,377 shares during the period. IFM Investors Pty Ltd lifted its stake in shares of Charles Schwab by 17.2% in the third quarter. IFM Investors Pty Ltd now owns 64,168 shares of the financial services provider’s stock valued at $3,154,000 after buying an additional 9,395 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Charles Schwab by 132.2% in the second quarter. Canada Pension Plan Investment Board now owns 388,910 shares of the financial services provider’s stock valued at $19,873,000 after buying an additional 221,400 shares during the period. Hedge funds and other institutional investors own 80.32% of the company’s stock.

Several equities research analysts recently weighed in on SCHW shares. Morgan Stanley increased their target price on shares of Charles Schwab from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, October 9th. Zacks Investment Research upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Wednesday, October 3rd. Deutsche Bank upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and increased their target price for the company from $52.00 to $54.00 in a research note on Tuesday, October 30th. UBS Group cut shares of Charles Schwab from a “buy” rating to a “neutral” rating in a research note on Monday. Finally, Raymond James upgraded shares of Charles Schwab from a “market perform” rating to an “outperform” rating and set a $54.00 target price for the company in a research note on Tuesday, October 30th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. Charles Schwab currently has an average rating of “Hold” and an average price target of $57.33.

NYSE:SCHW opened at $46.96 on Monday. Charles Schwab Co. has a 12-month low of $42.01 and a 12-month high of $60.22. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market capitalization of $63.42 billion, a P/E ratio of 28.63, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Monday, October 15th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.65. Charles Schwab had a net margin of 32.65% and a return on equity of 19.02%. The firm had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the business posted $0.42 earnings per share. The company’s quarterly revenue was up 19.1% compared to the same quarter last year. Equities analysts predict that Charles Schwab Co. will post 2.44 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Friday, November 9th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 31.71%.

Charles Schwab announced that its board has authorized a stock buyback program on Thursday, October 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 1.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

In other news, EVP Jonathan M. Craig sold 2,629 shares of the firm’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $48.84, for a total transaction of $128,400.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Charles R. Schwab sold 383,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $46.97, for a total transaction of $17,989,510.00. The disclosure for this sale can be found here. Insiders sold 406,453 shares of company stock valued at $19,107,379 in the last three months. Company insiders own 11.50% of the company’s stock.

About Charles Schwab

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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