Abbrea Capital LLC Trims Holdings in The Charles Schwab Co. (NYSE:SCHW)

Abbrea Capital LLC trimmed its position in The Charles Schwab Co. (NYSE:SCHW) by 8.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,635 shares of the financial services provider’s stock after selling 550 shares during the quarter. Abbrea Capital LLC’s holdings in Charles Schwab were worth $388,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Investment Advisors LLC grew its holdings in Charles Schwab by 5.1% during the 3rd quarter. Capital Investment Advisors LLC now owns 5,239 shares of the financial services provider’s stock valued at $288,000 after buying an additional 256 shares in the last quarter. Cedar Brook Financial Partners LLC grew its holdings in Charles Schwab by 10.8% during the 3rd quarter. Cedar Brook Financial Partners LLC now owns 4,128 shares of the financial services provider’s stock valued at $227,000 after buying an additional 403 shares in the last quarter. Meridian Wealth Management LLC grew its holdings in Charles Schwab by 109.3% during the 3rd quarter. Meridian Wealth Management LLC now owns 13,470 shares of the financial services provider’s stock valued at $739,000 after buying an additional 7,034 shares in the last quarter. Strategic Blueprint LLC grew its holdings in Charles Schwab by 3.5% during the 3rd quarter. Strategic Blueprint LLC now owns 9,423 shares of the financial services provider’s stock valued at $517,000 after buying an additional 320 shares in the last quarter. Finally, CX Institutional grew its holdings in Charles Schwab by 9.5% during the 3rd quarter. CX Institutional now owns 9,953 shares of the financial services provider’s stock valued at $546,000 after buying an additional 866 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $65.29, for a total value of $587,610.00. Following the completion of the sale, the director now owns 585,057 shares of the company’s stock, valued at $38,198,371.53. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $65.29, for a total transaction of $587,610.00. Following the completion of the sale, the director now owns 585,057 shares of the company’s stock, valued at $38,198,371.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Peter B. Crawford sold 8,000 shares of Charles Schwab stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $64.76, for a total value of $518,080.00. Following the sale, the chief financial officer now directly owns 29,611 shares of the company’s stock, valued at approximately $1,917,608.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 389,167 shares of company stock valued at $26,987,035. 6.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of research reports. Raymond James lowered their target price on Charles Schwab from $78.00 to $75.00 and set an “outperform” rating for the company in a research report on Thursday, January 18th. Deutsche Bank Aktiengesellschaft increased their target price on Charles Schwab from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Citigroup increased their target price on Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. increased their target price on Charles Schwab from $86.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Finally, Bank of America increased their target price on Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a research report on Tuesday, April 16th. Two 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, Charles Schwab currently has an average rating of “Hold” and an average price target of $74.47.

Charles Schwab Stock Down 0.4 %

SCHW traded down $0.30 on Thursday, hitting $74.89. The company had a trading volume of 6,373,539 shares, compared to its average volume of 7,758,854. The stock has a fifty day moving average price of $69.27 and a 200-day moving average price of $63.60. The Charles Schwab Co. has a 12-month low of $45.65 and a 12-month high of $75.55. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market capitalization of $133.01 billion, a price-to-earnings ratio of 31.33, a P/E/G ratio of 1.10 and a beta of 1.01.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.34%. The ex-dividend date is Thursday, May 9th. Charles Schwab’s dividend payout ratio 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.