Tandem Capital Management Corp ADV Trims Stock Position in The Charles Schwab Corporation $SCHW

Tandem Capital Management Corp ADV lessened its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,369 shares of the financial services provider’s stock after selling 182 shares during the quarter. Charles Schwab comprises about 2.3% of Tandem Capital Management Corp ADV’s holdings, making the stock its 11th biggest holding. Tandem Capital Management Corp ADV’s holdings in Charles Schwab were worth $4,504,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of SCHW. Pine Haven Investment Counsel Inc increased its stake in Charles Schwab by 0.3% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock valued at $3,813,000 after buying an additional 110 shares during the period. Traveka Wealth LLC increased its stake in Charles Schwab by 4.3% in the 2nd quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock valued at $259,000 after buying an additional 117 shares during the period. Bank of Stockton increased its stake in Charles Schwab by 1.2% in the 2nd quarter. Bank of Stockton now owns 10,593 shares of the financial services provider’s stock valued at $967,000 after buying an additional 123 shares during the period. Sheaff Brock Investment Advisors LLC increased its stake in Charles Schwab by 1.6% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider’s stock valued at $625,000 after buying an additional 129 shares during the period. Finally, HM Payson & Co. increased its stake in Charles Schwab by 0.7% in the 1st quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider’s stock valued at $1,509,000 after buying an additional 130 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SCHW shares. BMO Capital Markets started coverage on shares of Charles Schwab in a report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 price target for the company. Barclays reiterated an “overweight” rating and issued a $114.00 price target on shares of Charles Schwab in a report on Wednesday. Keefe, Bruyette & Woods increased their price target on shares of Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Deutsche Bank Aktiengesellschaft cut their price target on shares of Charles Schwab from $114.00 to $113.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. Finally, Morgan Stanley cut their price target on shares of Charles Schwab to $130.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.57.

Charles Schwab Price Performance

Charles Schwab stock opened at $93.82 on Thursday. The Charles Schwab Corporation has a 52 week low of $64.97 and a 52 week high of $99.59. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The firm’s 50-day simple moving average is $95.11 and its 200 day simple moving average is $88.89. The firm has a market capitalization of $170.30 billion, a PE ratio of 25.22, a P/E/G ratio of 0.91 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same period in the previous year, the firm earned $0.73 EPS. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, equities research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, August 8th. Charles Schwab’s dividend payout ratio is 29.03%.

Charles Schwab declared that its board has initiated a share buyback plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the transaction, the insider directly owned 11,923 shares in the company, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock worth $26,232,077 in the last 90 days. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab 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.