The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC decreased its holdings in The Charles Schwab Co. (NYSE:SCHW) by 21.4% in the fourth quarter, Holdings Channel reports. The firm owned 9,937 shares of the financial services provider’s stock after selling 2,701 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Charles Schwab were worth $684,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SCHW. National Pension Service boosted its holdings in Charles Schwab by 2.2% in the fourth quarter. National Pension Service now owns 2,355,555 shares of the financial services provider’s stock worth $162,062,000 after acquiring an additional 51,543 shares in the last quarter. Blume Capital Management Inc. boosted its stake in Charles Schwab by 6.5% in the 4th quarter. Blume Capital Management Inc. now owns 187,920 shares of the financial services provider’s stock worth $12,929,000 after purchasing an additional 11,418 shares in the last quarter. Moser Wealth Advisors LLC grew its position in Charles Schwab by 45.8% during the 4th quarter. Moser Wealth Advisors LLC now owns 4,775 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 1,500 shares during the last quarter. Fosun International Ltd increased its stake in Charles Schwab by 9.5% during the 4th quarter. Fosun International Ltd now owns 37,359 shares of the financial services provider’s stock valued at $2,570,000 after purchasing an additional 3,247 shares in the last quarter. Finally, RMR Wealth Builders raised its holdings in shares of Charles Schwab by 24.0% in the fourth quarter. RMR Wealth Builders now owns 19,343 shares of the financial services provider’s stock worth $1,331,000 after buying an additional 3,744 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Chairman Charles R. Schwab sold 65,790 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $76.40, for a total value of $5,026,356.00. Following the completion of the transaction, the chairman now directly owns 60,906,686 shares of the company’s stock, valued at approximately $4,653,270,810.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Jonathan M. Craig sold 4,977 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $70.01, for a total transaction of $348,439.77. Following the transaction, the insider now directly owns 81,446 shares in the company, valued at approximately $5,702,034.46. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Charles R. Schwab sold 65,790 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $76.40, for a total value of $5,026,356.00. Following the completion of the sale, the chairman now directly owns 60,906,686 shares of the company’s stock, valued at approximately $4,653,270,810.40. The disclosure for this sale can be found here. Insiders have sold a total of 659,587 shares of company stock worth $47,399,731 over the last quarter. 6.60% of the stock is currently owned by corporate insiders.

Charles Schwab Price Performance

SCHW stock traded up $0.85 during mid-day trading on Wednesday, reaching $76.40. 5,189,835 shares of the company’s stock were exchanged, compared to its average volume of 7,574,732. The company has a market cap of $135.68 billion, a price-to-earnings ratio of 31.96, a price-to-earnings-growth ratio of 1.11 and a beta of 0.98. The stock’s 50 day moving average is $71.20 and its 200 day moving average is $65.15. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43. The Charles Schwab Co. has a 12-month low of $46.55 and a 12-month high of $77.05.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Monday, April 15th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. Charles Schwab had a net margin of 26.14% and a return on equity of 19.86%. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.71 billion. On average, research analysts expect that The Charles Schwab Co. will post 3.42 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.31%. Charles Schwab’s payout ratio is currently 41.84%.

Analysts Set New Price Targets

SCHW has been the topic of several research reports. TD Cowen upped their target price on Charles Schwab from $87.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. increased their price objective on Charles Schwab from $86.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Bank of America lifted their target price on Charles Schwab from $68.00 to $70.00 and gave the stock an “underperform” rating in a report on Tuesday, April 16th. Morgan Stanley increased their price target on shares of Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Finally, Piper Sandler lifted their price objective on shares of Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.47.

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.