8,279 The Charles Schwab Corporation $SCHW Shares Sold by Kelleher Financial Advisors

Kelleher Financial Advisors lowered its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 65.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,341 shares of the financial services provider’s stock after selling 8,279 shares during the period. Kelleher Financial Advisors’ holdings in Charles Schwab were worth $424,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. 3Chopt Investment Partners LLC raised its stake in shares of Charles Schwab by 2.6% in the third quarter. 3Chopt Investment Partners LLC now owns 25,590 shares of the financial services provider’s stock worth $2,501,000 after purchasing an additional 649 shares during the last quarter. Compass Financial Management LLC boosted its position in shares of Charles Schwab by 68.3% during the third quarter. Compass Financial Management LLC now owns 493 shares of the financial services provider’s stock valued at $48,000 after buying an additional 200 shares during the last quarter. Rakuten Investment Management Inc. boosted its position in shares of Charles Schwab by 9.4% during the third quarter. Rakuten Investment Management Inc. now owns 294,137 shares of the financial services provider’s stock valued at $29,149,000 after buying an additional 25,176 shares during the last quarter. Third View Private Wealth LLC boosted its position in shares of Charles Schwab by 19.9% during the third quarter. Third View Private Wealth LLC now owns 6,367 shares of the financial services provider’s stock valued at $622,000 after buying an additional 1,058 shares during the last quarter. Finally, Provenance Wealth Advisors LLC increased its holdings in Charles Schwab by 8,400.0% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 2,720 shares of the financial services provider’s stock worth $266,000 after buying an additional 2,688 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Truist Financial set a $115.00 target price on Charles Schwab in a research report on Friday, October 16th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $117.00 price target (down from $122.00) on shares of Charles Schwab in a report on Friday, October 16th. Rothschild & Co Redburn lifted their price target on shares of Charles Schwab from $114.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, September 21st. Argus boosted their price objective on shares of Charles Schwab from $108.00 to $114.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Finally, Compass Point boosted their price objective on shares of Charles Schwab from $135.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, October 6th. Eighteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.91.

Charles Schwab Stock Up 4.6%

Charles Schwab stock opened at $93.42 on Thursday. The stock has a market cap of $161.56 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 0.79 and a beta of 0.77. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.64 and a current ratio of 0.64. The Charles Schwab Corporation has a one year low of $83.96 and a one year high of $114.53. The stock has a fifty day moving average of $99.18 and a 200 day moving average of $97.49.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Thursday, October 15th. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.03. The business had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.18 billion. Charles Schwab had a return on equity of 25.79% and a net margin of 39.33%. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period last year, the firm posted $1.31 earnings per share. As a group, sell-side analysts predict that The Charles Schwab Corporation will post 6.41 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, November 13th. Charles Schwab’s dividend payout ratio is 21.84%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Chairman Walter W. Bettinger sold 176,210 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $113.49, for a total transaction of $19,998,072.90. Following the completion of the sale, the chairman directly owned 610,360 shares of the company’s stock, valued at approximately $69,269,756.40. This represents a 22.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paula A. Sneed sold 5,263 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $107.15, for a total value of $563,930.45. Following the completion of the transaction, the director directly owned 91,711 shares in the company, valued at approximately $9,826,833.65. This represents a 5.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 283,837 shares of company stock worth $31,866,536. 6.30% of the stock is currently owned by corporate insiders.

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a financial services company that provides investment, wealth management, banking and related services to individual investors, financial professionals and institutional clients. Through its brokerage business, Schwab offers trading and custody services for stocks, exchange-traded funds, mutual funds, options, fixed-income securities and other investments, along with retirement accounts and investment research tools.

The company also provides advisory and wealth management services, including managed portfolios, financial planning and support for registered investment advisors.