Harbour Investments Inc. Has $525,000 Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Harbour Investments Inc. cut its holdings in The Charles Schwab Co. (NYSE:SCHW) by 3.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,119 shares of the financial services provider’s stock after selling 251 shares during the quarter. Harbour Investments Inc.’s holdings in Charles Schwab were worth $525,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Nelson Capital Management LLC increased its position in Charles Schwab by 0.4% in the first quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock worth $2,729,000 after purchasing an additional 141 shares during the period. Abbrea Capital LLC increased its position in Charles Schwab by 2.5% in the first quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 142 shares during the period. Sweet Financial Partners LLC increased its position in Charles Schwab by 3.5% in the first quarter. Sweet Financial Partners LLC now owns 4,430 shares of the financial services provider’s stock worth $320,000 after purchasing an additional 150 shares during the period. Ironwood Financial llc increased its position in Charles Schwab by 1.6% in the first quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock worth $737,000 after purchasing an additional 160 shares during the period. Finally, Sculati Wealth Management LLC increased its position in Charles Schwab by 0.4% in the fourth quarter. Sculati Wealth Management LLC now owns 42,971 shares of the financial services provider’s stock worth $2,956,000 after purchasing an additional 165 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $65.10, for a total transaction of $802,032.00. Following the completion of the sale, the director now directly owns 562,129 shares in the company, valued at approximately $36,594,597.90. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Chairman Charles R. Schwab sold 67,386 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the sale, the director now directly owns 562,129 shares of the company’s stock, valued at approximately $36,594,597.90. The disclosure for this sale can be found here. In the last three months, insiders sold 107,800 shares of company stock worth $7,145,364. 6.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SCHW has been the subject of a number of research reports. Bank of America lowered their price objective on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research report on Wednesday, July 17th. Jefferies Financial Group raised their target price on Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, July 8th. TD Cowen restated a “hold” rating and set a $71.00 target price (down previously from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. JPMorgan Chase & Co. reduced their target price on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $80.00 target price on shares of Charles Schwab in a report on Thursday, August 22nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $74.00.

Charles Schwab Stock Up 0.1 %

NYSE:SCHW opened at $63.98 on Thursday. The firm has a market capitalization of $113.71 billion, a price-to-earnings ratio of 26.77, a price-to-earnings-growth ratio of 1.24 and a beta of 0.99. The Charles Schwab Co. has a twelve month low of $48.66 and a twelve month high of $79.49. The stock’s 50 day moving average price is $67.91 and its two-hundred day moving average price is $70.12. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.01. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 EPS. Equities research analysts expect that The Charles Schwab Co. will post 3.06 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.56%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

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.