Montag & Caldwell LLC Cuts Position in The Charles Schwab Co. (NYSE:SCHW)

Montag & Caldwell LLC reduced its holdings in The Charles Schwab Co. (NYSE:SCHW) by 23.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 157,467 shares of the financial services provider’s stock after selling 48,331 shares during the period. Charles Schwab comprises 2.3% of Montag & Caldwell LLC’s holdings, making the stock its 18th largest position. Montag & Caldwell LLC’s holdings in Charles Schwab were worth $11,604,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Charles Schwab by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock worth $8,750,473,000 after buying an additional 1,042,823 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake 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 purchasing an additional 2,946,327 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Charles Schwab by 1.6% in the 4th quarter. Fisher Asset Management LLC now owns 18,623,505 shares of the financial services provider’s stock valued at $1,281,297,000 after purchasing an additional 292,155 shares in the last quarter. Norges Bank acquired a new stake in Charles Schwab during the 4th quarter worth $950,192,000. Finally, Putnam Investments LLC grew its holdings 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 worth $841,954,000 after buying an additional 560,110 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Stock Up 0.6 %

NYSE:SCHW opened at $62.12 on Monday. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week high of $79.49. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The stock’s fifty day moving average is $65.33 and its two-hundred day moving average is $70.07. The stock has a market capitalization of $110.48 billion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 1.16 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. Charles Schwab’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 EPS. Research analysts anticipate that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders 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 dividend on an annualized basis and a yield of 1.61%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $65.10, for a total value of $802,032.00. Following the sale, the director now directly owns 562,129 shares in the company, valued at $36,594,597.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Jonathan S. Beatty sold 780 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $75.00, for a total transaction of $58,500.00. Following the completion of the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,355,175. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.10, for a total value of $802,032.00. Following the sale, the director now directly owns 562,129 shares in the company, valued at approximately $36,594,597.90. The disclosure for this sale can be found here. Insiders sold a total of 99,636 shares of company stock worth $6,533,064 over the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on SCHW. JMP Securities lowered 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 report on Tuesday, July 23rd. Piper Sandler cut Charles Schwab from an “overweight” rating to a “neutral” rating and cut their price target for the company from $80.00 to $64.00 in a report on Monday, July 29th. Morgan Stanley lowered their price objective on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, August 16th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $80.00 target price on shares of Charles Schwab in a research note on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Charles Schwab presently has an average rating of “Hold” and a consensus price target of $73.75.

Charles Schwab 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.