Commonwealth Equity Services LLC Sells 36,005 Shares of The Charles Schwab Corporation $SCHW

Commonwealth Equity Services LLC lessened its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 9.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 327,487 shares of the financial services provider’s stock after selling 36,005 shares during the period. Commonwealth Equity Services LLC’s holdings in Charles Schwab were worth $31,265,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Charles Schwab by 1.9% during 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 during the period. State Street Corp boosted its holdings in Charles Schwab by 0.7% in the second quarter. State Street Corp now owns 72,464,619 shares of the financial services provider’s stock worth $6,611,672,000 after acquiring an additional 531,329 shares in the last quarter. Geode Capital Management LLC grew its stake in Charles Schwab by 2.9% in the second quarter. Geode Capital Management LLC now owns 37,381,183 shares of the financial services provider’s stock valued at $3,399,181,000 after acquiring an additional 1,038,376 shares during the period. Franklin Resources Inc. increased its holdings in shares of Charles Schwab by 2.8% during the second quarter. Franklin Resources Inc. now owns 30,035,937 shares of the financial services provider’s stock valued at $2,740,479,000 after acquiring an additional 815,625 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Charles Schwab by 1.0% in the 2nd quarter. Fisher Asset Management LLC now owns 21,376,690 shares of the financial services provider’s stock worth $1,950,409,000 after purchasing an additional 211,527 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on SCHW shares. Wolfe Research restated an “outperform” rating and set a $122.00 price target on shares of Charles Schwab in a research note on Wednesday. Truist Financial lifted their price objective on shares of Charles Schwab from $113.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday. JMP Securities restated a “market outperform” rating and issued a $110.00 target price on shares of Charles Schwab in a report on Friday, October 17th. JPMorgan Chase & Co. lifted their price target on Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Finally, Raymond James Financial reissued an “outperform” rating and set a $114.00 price objective on shares of Charles Schwab in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $110.80.

Charles Schwab Trading Down 1.6%

Shares of SCHW stock opened at $101.90 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market capitalization of $181.06 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 0.72 and a beta of 0.94. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $104.76. The company has a 50-day simple moving average of $96.08 and a two-hundred day simple moving average of $94.93.

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

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, November 14th. Charles Schwab’s dividend payout ratio is 25.29%.

Insider Activity

In other news, insider Jonathan S. Beatty sold 2,000 shares of Charles Schwab stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $102.01, for a total transaction of $204,020.00. Following the sale, the insider directly owned 11,923 shares in the company, valued at $1,216,265.23. The trade was a 14.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.30% of the stock is currently owned by corporate insiders.

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.