Hickory Asset Management Inc. Sells 788 Shares of The Charles Schwab Co. (NYSE:SCHW)

Hickory Asset Management Inc. decreased its position in The Charles Schwab Co. (NYSE:SCHW) by 4.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,796 shares of the financial services provider’s stock after selling 788 shares during the quarter. Charles Schwab makes up approximately 1.2% of Hickory Asset Management Inc.’s portfolio, making the stock its 26th largest holding. Hickory Asset Management Inc.’s holdings in Charles Schwab were worth $1,315,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. CVA Family Office LLC increased its position in Charles Schwab by 3.0% during the first quarter. CVA Family Office LLC now owns 7,558 shares of the financial services provider’s stock worth $592,000 after acquiring an additional 223 shares during the period. Elevation Point Wealth Partners LLC increased its position in Charles Schwab by 22.4% during the first quarter. Elevation Point Wealth Partners LLC now owns 35,243 shares of the financial services provider’s stock worth $2,759,000 after acquiring an additional 6,446 shares during the period. Krilogy Financial LLC increased its position in Charles Schwab by 8.1% during the first quarter. Krilogy Financial LLC now owns 20,839 shares of the financial services provider’s stock worth $1,631,000 after acquiring an additional 1,558 shares during the period. Everhart Financial Group Inc. increased its position in Charles Schwab by 23.0% during the first quarter. Everhart Financial Group Inc. now owns 8,041 shares of the financial services provider’s stock worth $629,000 after acquiring an additional 1,502 shares during the period. Finally, Relyea Zuckerberg Hanson LLC increased its position in Charles Schwab by 4.1% during the first quarter. Relyea Zuckerberg Hanson LLC now owns 5,635 shares of the financial services provider’s stock worth $441,000 after acquiring an additional 222 shares during the period. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Down 1.4%

Shares of NYSE:SCHW opened at $87.26 on Friday. The company’s fifty day moving average is $83.30 and its 200-day moving average is $79.87. The company has a market capitalization of $158.55 billion, a PE ratio of 29.18, a P/E/G ratio of 0.99 and a beta of 0.94. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $89.85.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.03. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same quarter in the prior year, the company earned $0.74 EPS. Equities research analysts predict that The Charles Schwab Co. 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 was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.24%. Charles Schwab’s dividend payout ratio (DPR) is 32.73%.

Analyst Ratings Changes

A number of brokerages recently issued reports on SCHW. Barclays dropped their target price on shares of Charles Schwab from $96.00 to $84.00 and set an “overweight” rating on the stock in a research report on Monday, April 7th. Citigroup raised shares of Charles Schwab from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $102.00 in a research report on Wednesday, April 2nd. TD Securities lifted their price target on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a “buy” rating in a research note on Tuesday, May 20th. Cowen reiterated a “buy” rating on shares of Charles Schwab in a research note on Tuesday, May 20th. Finally, The Goldman Sachs Group upgraded shares of Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Friday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.25.

Insider Buying and Selling

In other Charles Schwab news, Director Frank C. Herringer sold 3,592 shares of the business’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $74.26, for a total transaction of $266,741.92. Following the completion of the sale, the director now directly owns 172,162 shares of the company’s stock, valued at approximately $12,784,750.12. The trade was a 2.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 8,614 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $80.00, for a total value of $689,120.00. Following the sale, the insider now directly owns 49,204 shares of the company’s stock, valued at $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 a total of 97,608 shares of company stock worth $8,392,040 in the last 90 days. Corporate insiders own 6.30% of the company’s stock.

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.