Brookstone Capital Management Cuts Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Brookstone Capital Management trimmed its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 26.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 8,046 shares of the financial services provider’s stock after selling 2,882 shares during the period. Brookstone Capital Management’s holdings in Charles Schwab were worth $593,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Morningstar Investment Services LLC grew its stake in shares of Charles Schwab by 98.0% in the 4th quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock worth $326,284,000 after buying an additional 2,322,156 shares in the last quarter. Brown Advisory Inc. grew its stake in shares of Charles Schwab by 24.3% in the 4th quarter. Brown Advisory Inc. now owns 4,393,223 shares of the financial services provider’s stock worth $302,254,000 after buying an additional 857,734 shares in the last quarter. M&G Plc purchased a new position in shares of Charles Schwab in the 1st quarter worth $11,452,000. Retirement Systems of Alabama grew its stake in shares of Charles Schwab by 13.0% in the 4th quarter. Retirement Systems of Alabama now owns 1,329,388 shares of the financial services provider’s stock worth $91,462,000 after buying an additional 152,967 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Charles Schwab by 19.7% in the 4th quarter. Franklin Resources Inc. now owns 9,472,698 shares of the financial services provider’s stock worth $651,722,000 after buying an additional 1,558,975 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Trading Up 0.0 %

Shares of SCHW opened at $65.58 on Tuesday. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49. The company has a 50-day moving average of $68.97 and a 200 day moving average of $70.05. The firm has a market capitalization of $116.63 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 1.23 and a beta of 0.99. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42.

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

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.52%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Analyst Upgrades and Downgrades

SCHW has been the subject of a number of recent research reports. UBS Group dropped their price objective on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. TD Cowen reaffirmed a “hold” rating and set a $71.00 price target (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. JMP Securities dropped their price target on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research note on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Bank of America dropped their price target on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $74.27.

Insider Activity

In other Charles Schwab news, CEO Walter W. Bettinger purchased 25,000 shares of Charles Schwab stock in a transaction dated Wednesday, July 17th. The stock was acquired at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the acquisition, the chief executive officer now owns 827,377 shares in the company, valued at approximately $54,822,000.02. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Bernard J. Clark sold 77,431 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total transaction of $5,492,955.14. Following the completion of the transaction, the insider now owns 121,666 shares in the company, valued at approximately $8,630,986.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Walter W. Bettinger acquired 25,000 shares of Charles Schwab stock in a transaction that occurred on Wednesday, July 17th. The shares were purchased at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the purchase, the chief executive officer now owns 827,377 shares in the company, valued at $54,822,000.02. The disclosure for this purchase can be found here. In the last quarter, insiders sold 185,231 shares of company stock worth $12,638,320. 6.60% of the stock is currently owned by corporate insiders.

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.