Carnegie Investment Counsel Cuts Holdings in The Charles Schwab Co. (NYSE:SCHW)

Carnegie Investment Counsel cut its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 455,659 shares of the financial services provider’s stock after selling 2,865 shares during the period. Charles Schwab makes up about 1.0% of Carnegie Investment Counsel’s portfolio, making the stock its 19th biggest holding. Carnegie Investment Counsel’s holdings in Charles Schwab were worth $33,723,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Washington Trust Advisors Inc. lifted its holdings in shares of Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 149 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Charles Schwab during the third quarter valued at approximately $25,000. Prospera Private Wealth LLC purchased a new stake in Charles Schwab during the third quarter valued at approximately $31,000. Future Financial Wealth Managment LLC bought a new stake in shares of Charles Schwab in the 3rd quarter valued at approximately $32,000. Finally, Hazlett Burt & Watson Inc. purchased a new position in shares of Charles Schwab in the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on SCHW shares. The Goldman Sachs Group raised their price target on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods raised their target price on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Morgan Stanley lifted their price target on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Cowen raised their price objective on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Finally, Piper Sandler upped their target price on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus target price of $81.63.

Charles Schwab Trading Up 2.4 %

Shares of NYSE SCHW opened at $75.40 on Friday. The business has a fifty day moving average price of $77.58 and a 200 day moving average price of $70.60. The Charles Schwab Co. has a 1-year low of $59.67 and a 1-year high of $83.35. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a market capitalization of $134.19 billion, a P/E ratio of 29.45, a price-to-earnings-growth ratio of 1.19 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business earned $0.77 EPS. Equities research analysts expect that The Charles Schwab Co. will post 3.13 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.33%. Charles Schwab’s dividend payout ratio (DPR) is 39.06%.

Insiders Place Their Bets

In related news, Director Christopher V. Dodds sold 9,284 shares of Charles Schwab stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $81.43, for a total value of $755,996.12. Following the completion of the sale, the director now directly owns 442,807 shares in the company, valued at $36,057,774.01. This trade represents a 2.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan S. Beatty sold 2,300 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the transaction, the insider now owns 18,069 shares in the company, valued at $1,481,838.69. The trade was a 11.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,823 shares of company stock valued at $2,171,194. 6.60% of the stock is currently owned by insiders.

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.