Baker Avenue Asset Management LP Buys 396 Shares of The Charles Schwab Co. (NYSE:SCHW)

Baker Avenue Asset Management LP boosted its stake in The Charles Schwab Co. (NYSE:SCHW) by 0.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 119,516 shares of the financial services provider’s stock after purchasing an additional 396 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Charles Schwab were worth $7,746,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SCHW. Washington Trust Advisors Inc. boosted its position in shares of Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after buying an additional 149 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Charles Schwab during the third quarter worth about $25,000. Country Trust Bank acquired a new position in shares of Charles Schwab during the second quarter worth about $26,000. American Capital Advisory LLC acquired a new position in shares of Charles Schwab during the second quarter worth about $27,000. Finally, Fortitude Family Office LLC boosted its position in shares of Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after buying an additional 192 shares during the period. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of NYSE SCHW traded up $0.98 during trading hours on Friday, reaching $73.90. 8,728,207 shares of the stock were exchanged, compared to its average volume of 8,154,551. The firm has a market capitalization of $131.43 billion, a price-to-earnings ratio of 28.87, a P/E/G ratio of 1.69 and a beta of 0.96. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The Charles Schwab Co. has a 52 week low of $53.49 and a 52 week high of $79.49. The stock’s fifty day simple moving average is $67.24 and its 200 day simple moving average is $69.52.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the company earned $0.77 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. Sell-side analysts predict that The Charles Schwab Co. will post 3.11 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.35%. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Insiders Place Their Bets

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,465 shares of company stock worth $8,050,109 in the last 90 days. Company insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. JMP Securities upped their price objective on Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 16th. Citigroup reduced their price target on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, September 27th. Cowen increased their price target on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods increased their price target on Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Barclays increased their price target on Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $73.94.

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.