Everett Harris & Co. CA Lowers Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Everett Harris & Co. CA cut its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 51.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 215,082 shares of the financial services provider’s stock after selling 224,163 shares during the quarter. Everett Harris & Co. CA’s holdings in Charles Schwab were worth $14,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp lifted its position in Charles Schwab by 0.7% in the 2nd quarter. State Street Corp now owns 60,391,016 shares of the financial services provider’s stock worth $3,422,963,000 after buying an additional 398,367 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Charles Schwab by 26.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock worth $1,634,700,000 after acquiring an additional 6,195,934 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Charles Schwab by 1.5% during the 1st quarter. Geode Capital Management LLC now owns 27,050,168 shares of the financial services provider’s stock valued at $1,413,244,000 after purchasing an additional 391,238 shares during the last quarter. Morgan Stanley raised its position in Charles Schwab by 62.5% in the 4th quarter. Morgan Stanley now owns 22,255,649 shares of the financial services provider’s stock worth $1,853,005,000 after purchasing an additional 8,563,389 shares during the period. Finally, Norges Bank purchased a new position in Charles Schwab in the 4th quarter worth $1,325,555,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 2.0 %

Shares of Charles Schwab stock traded up $1.41 during trading on Wednesday, hitting $72.41. The company’s stock had a trading volume of 7,356,362 shares, compared to its average volume of 7,839,497. The Charles Schwab Co. has a 52 week low of $45.65 and a 52 week high of $72.94. The company has a market capitalization of $128.42 billion, a PE ratio of 28.32, a P/E/G ratio of 1.37 and a beta of 1.00. The company has a fifty day simple moving average of $65.43 and a two-hundred day simple moving average of $61.18. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.49 billion. Charles Schwab had a net margin of 26.90% and a return on equity of 21.33%. The business’s revenue for the quarter was down 18.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.07 earnings per share. Equities research analysts predict that The Charles Schwab Co. will post 3.33 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Thursday, February 8th. Charles Schwab’s payout ratio is currently 39.37%.

Insiders Place Their Bets

In other news, Chairman Charles R. Schwab sold 16,390 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $63.94, for a total transaction of $1,047,976.60. Following the transaction, the chairman now directly owns 61,331,688 shares of the company’s stock, valued at approximately $3,921,548,130.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Nigel J. Murtagh sold 29,991 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $67.80, for a total transaction of $2,033,389.80. Following the completion of the sale, the insider now owns 81,446 shares of the company’s stock, valued at approximately $5,522,038.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 16,390 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $63.94, for a total transaction of $1,047,976.60. Following the completion of the transaction, the chairman now directly owns 61,331,688 shares in the company, valued at approximately $3,921,548,130.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 216,584 shares of company stock valued at $14,200,769. 6.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SCHW. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Raymond James dropped their price objective on Charles Schwab from $78.00 to $75.00 and set an “outperform” rating for the company in a research note on Thursday, January 18th. Barclays lifted their target price on shares of Charles Schwab from $64.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 21st. TD Cowen raised shares of Charles Schwab from a “market perform” rating to an “outperform” rating and set a $87.00 price target for the company in a research report on Friday, March 22nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Charles Schwab from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $71.12.

Charles Schwab Company Profile

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.