Alpha Cubed Investments LLC decreased its stake in The Charles Schwab Corporation (NYSE:SCHW) by 11.2% during the second quarter, Holdings Channel reports. The institutional investor owned 15,082 shares of the financial services provider’s stock after selling 1,900 shares during the period. Alpha Cubed Investments LLC’s holdings in The Charles Schwab Corporation were worth $648,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Manhattan Co. raised its position in The Charles Schwab Corporation by 395.9% in the first quarter. First Manhattan Co. now owns 1,252,265 shares of the financial services provider’s stock valued at $39,534,000 after buying an additional 999,750 shares in the last quarter. 1ST Source Bank raised its position in The Charles Schwab Corporation by 65.7% in the first quarter. 1ST Source Bank now owns 52,583 shares of the financial services provider’s stock valued at $2,146,000 after buying an additional 20,847 shares in the last quarter. Bank of Montreal Can raised its position in The Charles Schwab Corporation by 25.4% in the first quarter. Bank of Montreal Can now owns 1,125,778 shares of the financial services provider’s stock valued at $45,943,000 after buying an additional 227,859 shares in the last quarter. Reilly Financial Advisors LLC raised its position in The Charles Schwab Corporation by 10.0% in the first quarter. Reilly Financial Advisors LLC now owns 4,571 shares of the financial services provider’s stock valued at $187,000 after buying an additional 415 shares in the last quarter. Finally, First Mercantile Trust Co. raised its position in The Charles Schwab Corporation by 10.5% in the first quarter. First Mercantile Trust Co. now owns 78,728 shares of the financial services provider’s stock valued at $3,213,000 after buying an additional 7,496 shares in the last quarter. Institutional investors and hedge funds own 79.41% of the company’s stock.

Shares of The Charles Schwab Corporation (NYSE SCHW) opened at 42.02 on Thursday. The Charles Schwab Corporation has a 1-year low of $29.23 and a 1-year high of $44.10. The firm has a 50-day moving average price of $42.74 and a 200-day moving average price of $41.05. The firm has a market capitalization of $56.22 billion, a PE ratio of 28.20 and a beta of 1.63.

The Charles Schwab Corporation (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. The Charles Schwab Corporation had a net margin of 26.73% and a return on equity of 15.41%. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the company posted $0.30 earnings per share. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. On average, analysts forecast that The Charles Schwab Corporation will post $1.61 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 11th will be given a dividend of $0.08 per share. The ex-dividend date is Wednesday, August 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.76%. The Charles Schwab Corporation’s payout ratio is 21.48%.

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Several research analysts have recently commented on SCHW shares. Citigroup Inc. restated a “buy” rating and set a $43.00 price target (down from $45.00) on shares of The Charles Schwab Corporation in a research report on Saturday, April 22nd. Deutsche Bank AG lowered their price target on The Charles Schwab Corporation from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, April 24th. Wells Fargo & Company restated a “market perform” rating and set a $44.00 price target (up from $42.00) on shares of The Charles Schwab Corporation in a research report on Monday, June 12th. Morgan Stanley restated an “overweight” rating and set a $48.00 price target (up from $45.00) on shares of The Charles Schwab Corporation in a research report on Monday, July 10th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $46.00 price target on shares of The Charles Schwab Corporation in a research report on Friday, June 16th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $44.00.

In other news, EVP Terri R. Kallsen sold 10,536 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $43.15, for a total transaction of $454,628.40. Following the transaction, the executive vice president now owns 5,212 shares of the company’s stock, valued at $224,897.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph R. Martinetto sold 89,330 shares of the stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $42.51, for a total transaction of $3,797,418.30. Following the transaction, the executive vice president now directly owns 207,961 shares in the company, valued at approximately $8,840,422.11. The disclosure for this sale can be found here. Insiders have sold 924,122 shares of company stock worth $39,694,987 in the last ninety days. Corporate insiders own 12.00% of the company’s stock.

About The Charles Schwab Corporation

The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.

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Institutional Ownership by Quarter for The Charles Schwab Corporation (NYSE:SCHW)

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