Cabot Wealth Management Inc. Trims Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Cabot Wealth Management Inc. reduced its stake in The Charles Schwab Co. (NYSE:SCHW) by 0.7% during the 4th quarter, HoldingsChannel reports. The firm owned 45,050 shares of the financial services provider’s stock after selling 326 shares during the period. Cabot Wealth Management Inc.’s holdings in Charles Schwab were worth $3,334,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. State Street Corp increased 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 worth $4,023,175,000 after purchasing an additional 414,949 shares during the period. Geode Capital Management LLC boosted its stake in shares of Charles Schwab by 1.5% in the third quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock valued at $1,945,614,000 after buying an additional 445,304 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Charles Schwab by 6.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after acquiring an additional 1,711,312 shares during the period. Franklin Resources Inc. raised its position in Charles Schwab by 15.0% in the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after acquiring an additional 3,157,923 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in Charles Schwab by 2.5% in the third quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock worth $1,308,485,000 after acquiring an additional 493,264 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insiders Place Their Bets

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the sale, the chairman now directly owns 827,377 shares in the company, valued at $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 is available through this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the completion of the transaction, the insider now directly owns 18,069 shares in the company, valued at $1,481,838.69. This represents a 11.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 490,120 shares of company stock valued at $40,127,472 over the last quarter. Company insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Barclays upped their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Jefferies Financial Group lifted their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft upped their price target on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Truist Financial lifted their price objective on Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $86.33.

Charles Schwab Stock Down 1.6 %

SCHW stock opened at $80.50 on Friday. The Charles Schwab Co. has a one year low of $61.01 and a one year high of $84.50. The stock has a market capitalization of $143.38 billion, a P/E ratio of 26.92, a PEG ratio of 0.99 and a beta of 0.99. The company has a 50 day moving average price of $77.98 and a two-hundred day moving average price of $73.02. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the business posted $0.68 earnings per share. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, sell-side analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.34%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, February 14th. Charles Schwab’s payout ratio is presently 36.12%.

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.