First Long Island Investors LLC Lowers Stock Position in The Charles Schwab Co. (NYSE:SCHW)

First Long Island Investors LLC lowered its position in The Charles Schwab Co. (NYSE:SCHW) by 98.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Linscomb Wealth Inc. grew its position in Charles Schwab by 0.9% during the third 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 grew its position in 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 buying an additional 7,367 shares during the period. Empowered Funds LLC grew its position 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 valued at $1,480,000 after buying an additional 1,343 shares during the period. Empirical Finance LLC grew its position in Charles Schwab by 2.2% during the third quarter. Empirical Finance LLC now owns 49,935 shares of the financial services provider’s stock valued at $3,236,000 after buying an additional 1,052 shares during the period. Finally, Sheaff Brock Investment Advisors LLC grew its position in Charles Schwab by 6.2% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 7,857 shares of the financial services provider’s stock valued at $509,000 after buying an additional 460 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

SCHW stock opened at $80.64 on Friday. 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 Charles Schwab Co. has a one year low of $55.09 and a one year high of $82.50. The stock has a market cap of $143.51 billion, a PE ratio of 31.50, a P/E/G ratio of 1.71 and a beta of 0.96. The firm has a 50 day simple moving average of $68.74 and a two-hundred day simple moving average of $69.66.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data 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. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 EPS. On average, analysts predict that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.24%. Charles Schwab’s dividend payout ratio is currently 39.06%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SCHW. JMP Securities increased 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 report on Wednesday, October 16th. The Goldman Sachs Group increased their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. increased their target price on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Piper Sandler increased their target price 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. Two investment 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $74.18.

Insider Buying and Selling at Charles Schwab

In other news, Chairman Charles R. Schwab sold 62,345 shares of the company’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 sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This represents a 0.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the sale, the insider now directly owns 18,069 shares in the company, valued at $1,391,674.38. This represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 103,645 shares of company stock valued at $7,440,627. 6.60% of the stock is currently owned by company insiders.

Charles Schwab 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.