Pinnacle Wealth Planning Services Inc. Grows Position in The Charles Schwab Co. (NYSE:SCHW)

Pinnacle Wealth Planning Services Inc. raised its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,983 shares of the financial services provider’s stock after acquiring an additional 211 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Charles Schwab were worth $360,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in Charles Schwab by 33.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock worth $4,771,985,000 after acquiring an additional 17,369,091 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Charles Schwab by 4.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock valued at $2,132,454,000 after buying an additional 1,219,015 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Charles Schwab by 1.6% in the fourth quarter. Fisher Asset Management LLC now owns 18,627,667 shares of the financial services provider’s stock valued at $1,281,584,000 after purchasing an additional 296,317 shares during the period. Norges Bank purchased a new stake in shares of Charles Schwab in the fourth quarter valued at approximately $950,192,000. Finally, Putnam Investments LLC boosted its holdings in shares of Charles Schwab by 4.8% in the fourth quarter. Putnam Investments LLC now owns 12,237,705 shares of the financial services provider’s stock valued at $841,954,000 after purchasing an additional 560,110 shares during the period. 84.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SCHW. Piper Sandler increased their target price on Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. JMP Securities reaffirmed a “market outperform” rating and set a $80.00 target price on shares of Charles Schwab in a research report on Tuesday, May 28th. Barclays dropped their target price on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. dropped their target price on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Citigroup increased their target price on Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Charles Schwab has a consensus rating of “Hold” and an average target price of $75.07.

Insiders Place Their Bets

In other news, CEO Walter W. Bettinger bought 25,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was purchased at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the completion of the purchase, the chief executive officer now owns 827,377 shares in the company, valued at approximately $54,822,000.02. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Chairman Charles R. Schwab sold 89,275 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.62, for a total transaction of $6,661,700.50. Following the completion of the transaction, the chairman now directly owns 30,641,981 shares of the company’s stock, valued at $2,286,504,622.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Walter W. Bettinger purchased 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were purchased at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 827,377 shares of the company’s stock, valued at $54,822,000.02. The disclosure for this purchase can be found here. Insiders sold a total of 555,745 shares of company stock worth $41,625,143 over the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Stock Down 0.3 %

Shares of NYSE:SCHW traded down $0.19 during trading on Friday, hitting $62.08. The company’s stock had a trading volume of 14,768,627 shares, compared to its average volume of 9,815,015. The business has a 50 day moving average price of $73.30 and a two-hundred day moving average price of $70.09. The company has a market capitalization of $110.33 billion, a PE ratio of 25.98, a P/E/G ratio of 1.05 and a beta of 0.99. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.65%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 earnings per share. As a group, research analysts expect that The Charles Schwab Co. will post 3.09 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a $0.25 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.61%. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

About Charles Schwab

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.