Addenda Capital Inc. Sells 8,583 Shares of The Charles Schwab Co. (NYSE:SCHW)

Addenda Capital Inc. reduced its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 6.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 133,377 shares of the financial services provider’s stock after selling 8,583 shares during the period. Addenda Capital Inc.’s holdings in Charles Schwab were worth $9,648,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sendero Wealth Management LLC lifted its stake in Charles Schwab by 17.1% in the 1st quarter. Sendero Wealth Management LLC now owns 145,879 shares of the financial services provider’s stock worth $10,553,000 after purchasing an additional 21,262 shares in the last quarter. Indiana Trust & Investment Management CO raised its position in shares of Charles Schwab by 166.8% during the 1st quarter. Indiana Trust & Investment Management CO now owns 1,067 shares of the financial services provider’s stock valued at $77,000 after buying an additional 667 shares in the last quarter. Cypress Wealth Services LLC raised its position in shares of Charles Schwab by 9.4% during the 1st quarter. Cypress Wealth Services LLC now owns 7,817 shares of the financial services provider’s stock valued at $566,000 after buying an additional 669 shares in the last quarter. 180 Wealth Advisors LLC raised its position in shares of Charles Schwab by 10.7% during the 1st quarter. 180 Wealth Advisors LLC now owns 35,693 shares of the financial services provider’s stock valued at $2,582,000 after buying an additional 3,453 shares in the last quarter. Finally, Lincoln Capital Corp raised its position in shares of Charles Schwab by 27.0% during the 1st quarter. Lincoln Capital Corp now owns 64,414 shares of the financial services provider’s stock valued at $4,660,000 after buying an additional 13,689 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Insider Activity at Charles Schwab

In related news, insider Nigel J. Murtagh sold 10,000 shares of Charles Schwab stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $72.40, for a total transaction of $724,000.00. Following the completion of the transaction, the insider now directly owns 71,446 shares of the company’s stock, valued at approximately $5,172,690.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $72.49, for a total value of $652,410.00. Following the completion of the transaction, the director now directly owns 570,657 shares of the company’s stock, valued at $41,366,925.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nigel J. Murtagh sold 10,000 shares of Charles Schwab stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $72.40, for a total transaction of $724,000.00. Following the completion of the transaction, the insider now directly owns 71,446 shares of the company’s stock, valued at $5,172,690.40. The disclosure for this sale can be found here. Insiders sold a total of 658,663 shares of company stock valued at $48,997,146 in the last three months. Company insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SCHW shares. Barclays increased their target price on shares of Charles Schwab from $74.00 to $75.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. JMP Securities reissued a “market outperform” rating and issued a $80.00 price target on shares of Charles Schwab in a report on Tuesday, May 28th. UBS Group raised their price target on shares of Charles Schwab from $87.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. JPMorgan Chase & Co. cut their price target on shares of Charles Schwab from $89.00 to $81.00 and set an “overweight” rating on the stock in a report on Friday, May 31st. Finally, Morgan Stanley raised their price target on shares of Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $75.56.

Charles Schwab Trading Up 0.2 %

Shares of SCHW traded up $0.13 during trading hours on Friday, reaching $73.69. 8,915,807 shares of the company traded hands, compared to its average volume of 7,361,292. The company’s fifty day moving average price is $74.42 and its two-hundred day moving average price is $69.78. The company has a market capitalization of $130.97 billion, a price-to-earnings ratio of 30.83, a price-to-earnings-growth ratio of 1.13 and a beta of 0.96. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.69. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Charles Schwab had a net margin of 26.14% and a return on equity of 19.25%. The company had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.71 billion. Equities research analysts predict that The Charles Schwab Co. will post 3.25 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.36%. Charles Schwab’s dividend payout ratio (DPR) is currently 41.84%.

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.