Harrington Investments INC Grows Position in The Charles Schwab Co. (NYSE:SCHW)

Harrington Investments INC grew its stake in The Charles Schwab Co. (NYSE:SCHW) by 1.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 57,208 shares of the financial services provider’s stock after purchasing an additional 681 shares during the period. Charles Schwab comprises approximately 2.3% of Harrington Investments INC’s holdings, making the stock its 12th largest position. Harrington Investments INC’s holdings in Charles Schwab were worth $4,234,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SCHW. State Street Corp raised its position in Charles Schwab by 0.7% during the 3rd quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock valued at $4,023,175,000 after purchasing an additional 414,949 shares in the last quarter. Geode Capital Management LLC grew its holdings in Charles Schwab by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock worth $1,945,614,000 after acquiring an additional 445,304 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Charles Schwab by 6.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after purchasing an additional 1,711,312 shares during the period. Franklin Resources Inc. raised its holdings in shares of Charles Schwab by 15.0% in the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after purchasing an additional 3,157,923 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in Charles Schwab by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock valued at $1,513,894,000 after acquiring an additional 265,708 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SCHW has been the topic of a number of research analyst reports. Truist Financial boosted their price objective on shares of Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. UBS Group boosted their price objective on Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, January 27th. TD Cowen raised shares of Charles Schwab from a “hold” rating to a “buy” rating and raised their price target for the company from $88.00 to $103.00 in a research note on Tuesday, February 18th. Jefferies Financial Group raised their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $89.00 to $93.00 in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $86.33.

Insider Activity

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the sale, the chairman now owns 827,377 shares of the company’s stock, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Peter J. Morgan III sold 14,643 shares of Charles Schwab stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total transaction of $1,181,690.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 501,087 shares of company stock worth $40,952,233. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

SCHW opened at $77.28 on Friday. The company has a market capitalization of $140.15 billion, a price-to-earnings ratio of 25.85, a P/E/G ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50. The business’s 50-day moving average price is $78.47 and its two-hundred day moving average price is $74.25. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the business earned $0.68 earnings per share. The business’s revenue was up 19.5% compared to the same quarter last year. Equities analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.40%. Charles Schwab’s dividend payout ratio (DPR) is 36.12%.

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.