First Long Island Investors LLC Sells 268,741 Shares of The Charles Schwab Co. (NYSE:SCHW)

First Long Island Investors LLC cut its holdings in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 98.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,300 shares of the financial services provider's stock after selling 268,741 shares during the period. First Long Island Investors LLC's holdings in Charles Schwab were worth $214,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Linscomb Wealth Inc. increased its stake in Charles Schwab by 0.9% during the 3rd quarter. Linscomb Wealth Inc. now owns 38,096 shares of the financial services provider's stock valued at $2,469,000 after buying an additional 338 shares during the period. KCM Investment Advisors LLC increased its stake in shares of Charles Schwab by 7.5% during the third quarter. KCM Investment Advisors LLC now owns 104,983 shares of the financial services provider's stock valued at $6,804,000 after acquiring an additional 7,367 shares during the period. Empowered Funds LLC raised its holdings in Charles Schwab by 6.2% during the third quarter. Empowered Funds LLC now owns 22,842 shares of the financial services provider's stock worth $1,480,000 after purchasing an additional 1,343 shares in the last quarter. Empirical Finance LLC lifted its position in Charles Schwab by 2.2% in the third quarter. Empirical Finance LLC now owns 49,935 shares of the financial services provider's stock worth $3,236,000 after purchasing an additional 1,052 shares during the period. Finally, Sheaff Brock Investment Advisors LLC boosted its stake in Charles Schwab by 6.2% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 7,857 shares of the financial services provider's stock valued at $509,000 after purchasing an additional 460 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SCHW has been the subject of several research analyst reports. Wells Fargo & Company upped their price objective on Charles Schwab from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Charles Schwab from $77.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Barclays increased their target price on shares of Charles Schwab from $64.00 to $74.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 16th. Piper Sandler lifted their price target on shares of Charles Schwab from $64.00 to $65.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 16th. Finally, JMP Securities increased their price objective on Charles Schwab from $82.00 to $84.00 and gave the company a "market outperform" 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, Charles Schwab has an average rating of "Hold" and an average target price of $74.18.

Charles Schwab Stock Up 0.6 %

Shares of SCHW traded up $0.45 during trading hours on Friday, reaching $80.64. The company's stock had a trading volume of 9,372,796 shares, compared to its average volume of 8,107,237. The company has a 50 day moving average of $68.74 and a two-hundred day moving average of $69.66. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a market cap of $143.51 billion, a price-to-earnings ratio of 31.50, a P/E/G ratio of 1.71 and a beta of 0.96. The Charles Schwab Co. has a 1-year low of $55.09 and a 1-year high of $82.50.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The company's revenue was up 5.2% compared to the same quarter last year. As a group, research analysts predict that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab's payout ratio is currently 39.06%.

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,500 shares of Charles Schwab stock in a transaction on Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the sale, the insider now owns 18,069 shares of the company's stock, valued at approximately $1,391,674.38. The trade was a 12.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the firm's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the transaction, the chairman now owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,645 shares of company stock valued at $7,440,627 in the last three months. Corporate insiders own 6.60% of the company's stock.

About Charles Schwab

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.