QCI Asset Management Inc. NY Trims Holdings in Charles Schwab Co. Common Stock (SCHW)

QCI Asset Management Inc. NY lessened its position in Charles Schwab Co. Common Stock (NYSE:SCHW) by 0.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 329,672 shares of the financial services provider’s stock after selling 1,550 shares during the period. Charles Schwab Co. Common Stock makes up about 1.7% of QCI Asset Management Inc. NY’s holdings, making the stock its 22nd largest position. QCI Asset Management Inc. NY’s holdings in Charles Schwab Co. Common Stock were worth $16,846,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Massey Quick Simon & CO. LLC boosted its position in shares of Charles Schwab Co. Common Stock by 118.6% during the first quarter. Massey Quick Simon & CO. LLC now owns 2,088 shares of the financial services provider’s stock valued at $109,000 after buying an additional 1,133 shares during the last quarter. Acropolis Investment Management LLC purchased a new position in shares of Charles Schwab Co. Common Stock during the second quarter valued at approximately $115,000. Well Done LLC purchased a new position in shares of Charles Schwab Co. Common Stock during the first quarter valued at approximately $118,000. Kaizen Advisory LLC boosted its position in Charles Schwab Co. Common Stock by 157.6% in the second quarter. Kaizen Advisory LLC now owns 2,980 shares of the financial services provider’s stock worth $152,000 after purchasing an additional 1,823 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA boosted its position in Charles Schwab Co. Common Stock by 6,692.5% in the first quarter. Compagnie Lombard Odier SCmA now owns 3,600 shares of the financial services provider’s stock worth $188,000 after purchasing an additional 3,547 shares during the last quarter. 80.26% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have weighed in on SCHW shares. Morgan Stanley cut their price objective on Charles Schwab Co. Common Stock from $65.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 25th. Credit Suisse Group boosted their price objective on Charles Schwab Co. Common Stock from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 17th. JPMorgan Chase & Co. set a $59.00 price objective on Charles Schwab Co. Common Stock and gave the stock a “buy” rating in a research report on Monday, July 16th. Citigroup cut their price objective on Charles Schwab Co. Common Stock from $49.00 to $48.00 and set a “sell” rating on the stock in a research report on Monday, July 23rd. Finally, Zacks Investment Research cut Charles Schwab Co. Common Stock from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $57.80.

Shares of SCHW opened at $50.61 on Friday. The firm has a market capitalization of $68.54 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 1.27 and a beta of 1.56. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.29 and a current ratio of 0.27. Charles Schwab Co. Common Stock has a 1 year low of $38.06 and a 1 year high of $60.22.

Charles Schwab Co. Common Stock (NYSE:SCHW) last issued its earnings results on Tuesday, July 17th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.46 billion. Charles Schwab Co. Common Stock had a return on equity of 17.96% and a net margin of 30.83%. The business’s revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 earnings per share. research analysts anticipate that Charles Schwab Co. Common Stock will post 2.43 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 24th. Shareholders of record on Friday, August 10th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, August 9th. This is a positive change from Charles Schwab Co. Common Stock’s previous quarterly dividend of $0.10. This represents a $0.52 annualized dividend and a dividend yield of 1.03%. Charles Schwab Co. Common Stock’s payout ratio is presently 31.71%.

In other Charles Schwab Co. Common Stock news, Chairman Charles R. Schwab sold 210,750 shares of the business’s stock in a transaction on Monday, May 21st. The stock was sold at an average price of $59.45, for a total value of $12,529,087.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Charles R. Schwab sold 101,970 shares of the business’s stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $59.13, for a total value of $6,029,486.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 641,855 shares of company stock worth $36,835,999. Corporate insiders own 11.50% of the company’s stock.

About Charles Schwab Co. Common Stock

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

Further Reading: Short Selling – Explanation For Shorting Stocks

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Institutional Ownership by Quarter for Charles Schwab Co. Common Stock (NYSE:SCHW)

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