Means Investment CO. Inc. Reduces Stock Holdings in The Charles Schwab Corporation (NYSE:SCHW)

Means Investment CO. Inc. trimmed its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 56.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,958 shares of the financial services provider's stock after selling 60,801 shares during the period. Means Investment CO. Inc.'s holdings in Charles Schwab were worth $3,676,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Atwood & Palmer Inc. purchased a new stake in Charles Schwab during the first quarter valued at about $25,000. WFA Asset Management Corp purchased a new position in shares of Charles Schwab in the first quarter valued at $33,000. Murphy & Mullick Capital Management Corp purchased a new stake in Charles Schwab during the 4th quarter worth about $38,000. Beacon Capital Management LLC boosted its stake in Charles Schwab by 53.1% in the 1st quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider's stock worth $38,000 after purchasing an additional 169 shares during the period. Finally, Atala Financial Inc purchased a new position in Charles Schwab during the 4th quarter valued at about $41,000. Institutional investors own 84.38% of the company's stock.

Insiders Place Their Bets

In other news, insider Nigel J. Murtagh sold 20,872 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total transaction of $1,878,688.72. Following the completion of the transaction, the insider now directly owns 58,999 shares of the company's stock, valued at approximately $5,310,499.99. This represents a 26.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 8,614 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $80.00, for a total transaction of $689,120.00. Following the sale, the insider now owns 49,204 shares of the company's stock, valued at approximately $3,936,320. This represents a 14.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 128,609 shares of company stock valued at $11,182,440 in the last ninety days. Company insiders own 6.30% of the company's stock.

Charles Schwab Trading Down 0.7%

Shares of SCHW traded down $0.66 during mid-day trading on Friday, reaching $89.25. The company's stock had a trading volume of 12,979,320 shares, compared to its average volume of 9,465,958. The Charles Schwab Corporation has a 52 week low of $61.01 and a 52 week high of $90.60. The stock has a market cap of $162.16 billion, a PE ratio of 27.04, a P/E/G ratio of 0.96 and a beta of 0.94. The company's fifty day moving average price is $84.81 and its two-hundred day moving average price is $80.12. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.03. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. During the same period in the previous year, the firm posted $0.74 earnings per share. On average, analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.21%. Charles Schwab's payout ratio is 32.73%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SCHW shares. UBS Group boosted their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a research note on Tuesday, April 22nd. TD Securities upped their price target on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Redburn Atlantic raised Charles Schwab from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $65.00 to $82.00 in a research note on Monday, June 9th. Citigroup upgraded Charles Schwab from a "neutral" rating to a "buy" rating and upped their target price for the stock from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Finally, The Goldman Sachs Group raised Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $89.40.

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.