Carson Advisory Inc. Reduces Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Carson Advisory Inc. lessened its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 26.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,717 shares of the financial services provider’s stock after selling 2,460 shares during the period. Carson Advisory Inc.’s holdings in Charles Schwab were worth $495,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SCHW. Vanguard Group Inc. grew its stake in shares of Charles Schwab by 0.9% during the first quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock valued at $8,750,473,000 after buying an additional 1,042,823 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Charles Schwab by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock valued at $5,230,657,000 after acquiring an additional 2,946,327 shares during the last quarter. Fisher Asset Management LLC increased its stake in Charles Schwab by 1.6% in the fourth quarter. Fisher Asset Management LLC now owns 18,623,505 shares of the financial services provider’s stock worth $1,281,297,000 after purchasing an additional 292,155 shares during the period. Norges Bank bought a new stake in shares of Charles Schwab during the fourth quarter worth $950,192,000. Finally, Putnam Investments LLC boosted its stake in shares of Charles Schwab by 4.8% during the fourth quarter. Putnam Investments LLC now owns 12,237,705 shares of the financial services provider’s stock valued at $841,954,000 after purchasing an additional 560,110 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $63.07 on Wednesday. The company has a market capitalization of $112.17 billion, a PE ratio of 26.39, a P/E/G ratio of 1.18 and a beta of 0.97. The company has a 50-day simple moving average of $66.01 and a two-hundred day simple moving average of $70.12. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. Charles Schwab’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 EPS. Research analysts expect that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.59%. Charles Schwab’s dividend payout ratio is presently 41.84%.

Analysts Set New Price Targets

Several research firms recently commented on SCHW. JMP Securities reduced their price target on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a research note on Tuesday, July 23rd. Barclays decreased their price target on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 17th. TD Cowen reissued a “hold” rating and issued a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Morgan Stanley decreased their target price on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Finally, Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $80.00 to $64.00 in a research report on Monday, July 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Charles Schwab has an average rating of “Hold” and a consensus price target of $74.00.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 67,386 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now directly owns 60,619,371 shares in the company, valued at $3,946,927,245.81. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Walter W. Bettinger acquired 25,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were purchased at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 827,377 shares of the company’s stock, valued at $54,822,000.02. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. The disclosure for this sale can be found here. Insiders sold 99,636 shares of company stock valued at $6,533,064 in the last quarter. 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.