Venturi Wealth Management LLC Sells 8,710 Shares of The Charles Schwab Co. (NYSE:SCHW)

Venturi Wealth Management LLC lessened its stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 93.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 607 shares of the financial services provider's stock after selling 8,710 shares during the period. Venturi Wealth Management LLC's holdings in Charles Schwab were worth $39,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Catalytic Wealth RIA LLC grew its stake in shares of Charles Schwab by 91.7% during the 3rd quarter. Catalytic Wealth RIA LLC now owns 9,768 shares of the financial services provider's stock valued at $633,000 after purchasing an additional 4,672 shares during the period. Patten & Patten Inc. TN boosted its stake in shares of Charles Schwab by 155.9% during the 3rd quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider's stock worth $6,751,000 after acquiring an additional 63,463 shares during the last quarter. Proffitt & Goodson Inc. grew its position in shares of Charles Schwab by 2.7% during the 3rd quarter. Proffitt & Goodson Inc. now owns 12,842 shares of the financial services provider's stock valued at $832,000 after acquiring an additional 333 shares during the period. Kennebec Savings Bank purchased a new stake in shares of Charles Schwab in the 3rd quarter worth $644,000. Finally, Ashton Thomas Securities LLC bought a new position in Charles Schwab in the 3rd quarter worth $61,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,500 shares of the stock in a transaction 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 sale, the insider now owns 18,069 shares in the company, valued at $1,391,674.38. This trade represents a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the business's stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the sale, the director now directly owns 551,329 shares of the company's stock, valued at $39,783,900.64. This represents a 5.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 103,645 shares of company stock valued at $7,440,627. Company insiders own 6.60% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Cowen upped their price target on Charles Schwab from $69.00 to $75.00 and gave the stock a "hold" rating in a research report on Tuesday, October 15th. JMP Securities raised their target price on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a "market outperform" rating in a research note on Wednesday, October 16th. Wells Fargo & Company upped their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. Morgan Stanley lifted their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the company an "equal weight" rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. increased their price target on Charles Schwab from $86.00 to $87.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 16th. Two 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 company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $74.18.

Charles Schwab Price Performance

Shares of NYSE SCHW traded up $0.45 during mid-day trading on Friday, hitting $80.64. 9,372,796 shares of the company's stock traded hands, compared to its average volume of 8,107,237. The company has a market capitalization of $143.51 billion, a P/E ratio of 31.50, a PEG 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. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.42. The company's 50-day moving average is $68.74 and its two-hundred day moving average is $69.66.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The company's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the company earned $0.77 EPS. On average, equities analysts anticipate 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. Stockholders of record on Friday, November 8th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Friday, November 8th. Charles Schwab's dividend payout ratio is currently 39.06%.

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.