The Charles Schwab Corporation $SCHW Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel cut its position in The Charles Schwab Corporation (NYSE:SCHW) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 813,935 shares of the financial services provider’s stock after selling 12,404 shares during the period. Charles Schwab accounts for 1.5% of Carnegie Investment Counsel’s investment portfolio, making the stock its 12th largest holding. Carnegie Investment Counsel’s holdings in Charles Schwab were worth $77,706,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SCHW. Norges Bank acquired a new stake in Charles Schwab in the second quarter valued at $1,889,858,000. Brown Advisory Inc. increased its holdings in shares of Charles Schwab by 88.4% in the 2nd quarter. Brown Advisory Inc. now owns 12,162,260 shares of the financial services provider’s stock valued at $1,109,687,000 after acquiring an additional 5,708,208 shares during the last quarter. Primecap Management Co. CA raised its position in shares of Charles Schwab by 35.9% during the 2nd quarter. Primecap Management Co. CA now owns 19,034,806 shares of the financial services provider’s stock worth $1,736,736,000 after acquiring an additional 5,032,728 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Charles Schwab by 28.3% during the second quarter. Bank of New York Mellon Corp now owns 14,182,132 shares of the financial services provider’s stock worth $1,293,978,000 after purchasing an additional 3,125,179 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Charles Schwab by 1.9% in the second quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock valued at $13,793,853,000 after purchasing an additional 2,786,829 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jonathan S. Beatty sold 3,072 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total value of $301,056.00. Following the completion of the sale, the insider owned 11,923 shares in the company, valued at $1,168,454. This trade represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the transaction, the insider owned 34,778 shares in the company, valued at $3,245,830.74. The trade was a 8.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of Charles Schwab from $139.00 to $148.00 and gave the stock an “overweight” rating in a report on Monday. BMO Capital Markets initiated coverage on shares of Charles Schwab in a research note on Friday, October 3rd. They set an “outperform” rating and a $110.00 price target on the stock. UBS Group initiated coverage on shares of Charles Schwab in a research report on Thursday, December 11th. They issued a “buy” rating and a $119.00 price target for the company. Truist Financial raised their price objective on Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $114.00 target price on shares of Charles Schwab in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $108.84.

Charles Schwab Stock Performance

NYSE SCHW opened at $101.92 on Friday. The firm has a market cap of $181.10 billion, a P/E ratio of 23.87, a P/E/G ratio of 0.83 and a beta of 0.96. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $102.28. The business’s 50-day moving average price is $94.96 and its 200 day moving average price is $94.18. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the prior year, the business earned $0.71 earnings per share. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. On average, equities research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, November 14th. Charles Schwab’s dividend payout ratio (DPR) is 25.29%.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.