W.G. Shaheen & Associates DBA Whitney & Co Sells 45,132 Shares of The Charles Schwab Corporation (NYSE:SCHW)

W.G. Shaheen & Associates DBA Whitney & Co decreased its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 16.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 236,960 shares of the financial services provider's stock after selling 45,132 shares during the quarter. Charles Schwab makes up 2.0% of W.G. Shaheen & Associates DBA Whitney & Co's investment portfolio, making the stock its 14th largest position. W.G. Shaheen & Associates DBA Whitney & Co's holdings in Charles Schwab were worth $18,549,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Atwood & Palmer Inc. bought a new position in shares of Charles Schwab during the 1st quarter worth $25,000. Westside Investment Management Inc. grew its stake in shares of Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock worth $27,000 after acquiring an additional 150 shares during the period. WFA Asset Management Corp bought a new position in shares of Charles Schwab during the 1st quarter worth $33,000. Cornerstone Planning Group LLC grew its stake in shares of Charles Schwab by 90.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider's stock worth $36,000 after acquiring an additional 220 shares during the period. Finally, Beacon Capital Management LLC grew its stake in shares of Charles Schwab by 53.1% during the 1st quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider's stock worth $38,000 after acquiring an additional 169 shares during the period. Institutional investors own 84.38% of the company's stock.

Charles Schwab Trading Up 1.5%

SCHW traded up $1.39 on Thursday, hitting $96.54. 9,042,432 shares of the company were exchanged, compared to its average volume of 10,285,248. The firm has a fifty day simple moving average of $90.00 and a two-hundred day simple moving average of $82.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53. The Charles Schwab Corporation has a 12 month low of $61.15 and a 12 month high of $97.50. The stock has a market capitalization of $175.41 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 0.92 and a beta of 0.93.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.04. The firm had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a return on equity of 19.73% and a net margin of 33.68%. The business's quarterly revenue was up 24.8% compared to the same quarter last year. During the same period last year, the company earned $0.73 EPS. Sell-side analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.12%. Charles Schwab's dividend payout ratio is currently 29.03%.

Insider Activity at Charles Schwab

In related news, insider Paul V. Woolway sold 3,290 shares of Charles Schwab stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $90.95, for a total transaction of $299,225.50. Following the sale, the insider directly owned 35,864 shares in the company, valued at $3,261,830.80. The trade was a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nigel J. Murtagh sold 20,872 shares of Charles Schwab stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total value of $1,878,688.72. Following the sale, the insider owned 58,999 shares in the company, valued at $5,310,499.99. This represents a 26.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 116,313 shares of company stock valued at $10,264,091 over the last ninety days. Insiders own 6.30% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Truist Financial raised their target price on Charles Schwab from $100.00 to $107.00 and gave the stock a "buy" rating in a research note on Monday. Wells Fargo & Company set a $102.00 target price on Charles Schwab and gave the stock an "overweight" rating in a research note on Friday, July 18th. William Blair downgraded Charles Schwab from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. The Goldman Sachs Group upgraded Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research note on Friday, April 25th. Finally, Cowen restated a "buy" rating on shares of Charles Schwab in a research note on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Charles Schwab currently has an average rating of "Moderate Buy" and a consensus price target of $98.65.

About Charles Schwab

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.