Apriem Advisors Sells 522 Shares of Charles Schwab Co. (NYSE:SCHW)

Apriem Advisors lowered its stake in Charles Schwab Co. (NYSE:SCHW) by 6.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,142 shares of the financial services provider’s stock after selling 522 shares during the quarter. Apriem Advisors’ holdings in Charles Schwab were worth $287,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of SCHW. BlackRock Inc. lifted its stake in shares of Charles Schwab by 3.7% during the 2nd quarter. BlackRock Inc. now owns 87,080,690 shares of the financial services provider’s stock worth $3,499,773,000 after purchasing an additional 3,140,824 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Charles Schwab by 24.0% during the 1st quarter. Clearbridge Investments LLC now owns 14,863,818 shares of the financial services provider’s stock worth $635,577,000 after buying an additional 2,880,846 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Charles Schwab by 132.2% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 3,490,027 shares of the financial services provider’s stock worth $140,265,000 after buying an additional 1,987,302 shares during the last quarter. Eminence Capital LP increased its holdings in shares of Charles Schwab by 61.0% during the 2nd quarter. Eminence Capital LP now owns 5,219,005 shares of the financial services provider’s stock worth $209,752,000 after buying an additional 1,977,025 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Charles Schwab during the 1st quarter worth $77,259,000. 79.02% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Charles Schwab stock traded up $1.14 during trading on Friday, hitting $37.28. 10,364,754 shares of the company’s stock traded hands, compared to its average volume of 11,125,315. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.31 and a quick ratio of 0.31. The firm’s fifty day moving average price is $39.40 and its 200 day moving average price is $41.63. Charles Schwab Co. has a twelve month low of $34.58 and a twelve month high of $49.47. The company has a market cap of $46.63 billion, a PE ratio of 15.22, a PEG ratio of 2.39 and a beta of 1.32.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. Charles Schwab had a net margin of 35.29% and a return on equity of 20.52%. The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same period in the prior year, the business earned $0.60 earnings per share. Charles Schwab’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts anticipate that Charles Schwab Co. will post 2.63 earnings per share for the current year.

In other news, Director Mark A. Goldfarb bought 2,595 shares of the stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $38.68 per share, with a total value of $100,374.60. Following the completion of the purchase, the director now owns 3,771 shares of the company’s stock, valued at $145,862.28. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen T. Mclin sold 5,093 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $37.56, for a total transaction of $191,293.08. Following the transaction, the director now owns 7,297 shares of the company’s stock, valued at approximately $274,075.32. The disclosure for this sale can be found here. Insiders have sold 219,677 shares of company stock worth $8,997,842 over the last quarter. 10.90% of the stock is owned by company insiders.

SCHW has been the subject of a number of research analyst reports. Credit Suisse Group dropped their price objective on Charles Schwab from $55.00 to $49.00 and set an “outperform” rating for the company in a report on Tuesday, October 1st. Bank of America downgraded Charles Schwab from a “buy” rating to a “neutral” rating and lowered their price target for the company from $49.00 to $43.00 in a report on Friday, July 12th. Keefe, Bruyette & Woods cut shares of Charles Schwab from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $51.00 to $43.50 in a research report on Friday, July 12th. Argus reissued a “buy” rating and issued a $52.00 price objective (down from $57.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Finally, Compass Point set a $45.00 price target on shares of Charles Schwab and gave the stock a “hold” rating in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. Charles Schwab has a consensus rating of “Hold” and an average target price of $44.34.

Charles Schwab Profile

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.

See Also: Stock Split

Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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