Oppenheimer Asset Management Inc. Sells 17,488 Shares of The Charles Schwab Co. (NYSE:SCHW)

Oppenheimer Asset Management Inc. decreased its stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 12.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 127,997 shares of the financial services provider's stock after selling 17,488 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Charles Schwab were worth $8,295,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alliance Wealth Advisors LLC boosted its holdings in shares of Charles Schwab by 2.7% during the third quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider's stock worth $347,000 after acquiring an additional 142 shares during the period. Washington Trust Advisors Inc. lifted its holdings in Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider's stock worth $25,000 after purchasing an additional 149 shares during the last quarter. Arcataur Capital Management LLC boosted its stake in Charles Schwab by 2.3% in the 3rd quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider's stock valued at $431,000 after purchasing an additional 150 shares during the period. Tandem Capital Management Corp ADV grew its holdings in Charles Schwab by 0.3% in the 3rd quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider's stock valued at $3,210,000 after buying an additional 150 shares in the last quarter. Finally, Ascent Wealth Partners LLC grew its holdings in Charles Schwab by 0.7% in the 2nd quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider's stock valued at $1,721,000 after buying an additional 164 shares in the last quarter. Institutional investors own 84.38% of the company's stock.

Charles Schwab Price Performance

Charles Schwab stock traded up $1.94 during mid-day trading on Thursday, reaching $80.19. The company had a trading volume of 14,451,210 shares, compared to its average volume of 8,101,502. The business has a fifty day simple moving average of $68.05 and a 200 day simple moving average of $69.54. The company has a market cap of $142.71 billion, a P/E ratio of 31.32, a P/E/G ratio of 1.79 and a beta of 0.96. The Charles Schwab Co. has a fifty-two week low of $55.09 and a fifty-two week high of $82.50. The company has a current ratio of 0.47, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.02. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. Charles Schwab's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. On average, equities research analysts predict that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.25%. Charles Schwab's dividend payout ratio (DPR) is presently 39.06%.

Insider Buying and Selling

In related news, insider Jonathan S. Beatty sold 2,500 shares of Charles Schwab stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $77.02, for a total value of $192,550.00. Following the transaction, the insider now directly owns 18,069 shares of the company's stock, valued at $1,391,674.38. The trade was a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company's stock in a transaction that occurred 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 completion of the sale, the director now owns 554,929 shares in the company, valued at $35,543,202.45. The trade was a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,645 shares of company stock worth $7,440,627 in the last ninety days. Company insiders own 6.60% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SCHW. Barclays boosted 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 report on Wednesday, October 16th. Piper Sandler boosted their price objective on shares of Charles Schwab from $64.00 to $65.00 and gave the company a "neutral" rating in a report on Wednesday, October 16th. Jefferies Financial Group decreased their target price on shares of Charles Schwab from $79.00 to $73.00 and set a "buy" rating on the stock in a research report on Friday, October 4th. TD Cowen reiterated a "hold" rating and issued a $71.00 price target (down from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company increased their price target on Charles Schwab from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $74.18.

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.