The Charles Schwab Corporation $SCHW Stock: Pictet Asset Management Holding SA Decreases Holdings

Pictet Asset Management Holding SA trimmed its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 7.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 953,718 shares of the financial services provider’s stock after selling 81,570 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Charles Schwab were worth $93,217,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SCHW. Leelyn Smith LLC raised its holdings in Charles Schwab by 2.3% in the 3rd quarter. Leelyn Smith LLC now owns 54,641 shares of the financial services provider’s stock valued at $5,341,000 after acquiring an additional 1,216 shares in the last quarter. Verus Capital Partners LLC bought a new stake in shares of Charles Schwab during the 3rd quarter valued at $209,000. W.G. Shaheen & Associates DBA Whitney & Co grew its holdings in shares of Charles Schwab by 0.8% during the 3rd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 316,798 shares of the financial services provider’s stock worth $30,964,000 after purchasing an additional 2,419 shares in the last quarter. Your Advocates Ltd. LLP acquired a new stake in shares of Charles Schwab during the 3rd quarter worth $68,000. Finally, United Advisor Group LLC acquired a new stake in shares of Charles Schwab during the 3rd quarter worth $483,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Compass Point raised their price target on Charles Schwab from $135.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. JPMorgan Chase & Co. cut their price objective on shares of Charles Schwab from $150.00 to $147.00 and set an “overweight” rating for the company in a research report on Friday, October 16th. Citizens Jmp reiterated a “market outperform” rating and set a $120.00 price objective on shares of Charles Schwab in a research note on Friday, October 16th. Wells Fargo & Company reduced their price objective on shares of Charles Schwab from $105.00 to $103.00 and set an “equal weight” rating on the stock in a research note on Friday, October 16th. Finally, Piper Sandler decreased their target price on shares of Charles Schwab from $118.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, October 2nd. Eighteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $119.91.

Charles Schwab Stock Up 1.4%

NYSE SCHW opened at $92.78 on Tuesday. The business has a fifty day moving average price of $98.16 and a two-hundred day moving average price of $97.35. The stock has a market capitalization of $160.45 billion, a PE ratio of 15.23, a PEG ratio of 0.83 and a beta of 0.77. The Charles Schwab Corporation has a fifty-two week low of $83.96 and a fifty-two week high of $114.53. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.64 and a quick ratio of 0.64.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. Charles Schwab had a return on equity of 25.79% and a net margin of 39.33%. The company had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.18 billion. During the same quarter last year, the company posted $1.31 EPS. The company’s revenue for the quarter was up 16.9% compared to the same quarter last year. Equities analysts expect that The Charles Schwab Corporation will post 6.41 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.28 annualized dividend and a yield of 1.4%. Charles Schwab’s dividend payout ratio (DPR) is 21.84%.

Trending Headlines about Charles Schwab

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Schwab lowered account minimums for clients seeking IPO shares, potentially making IPO access available to more customers and helping attract or retain brokerage accounts. Read More.
• Positive Sentiment: The company expanded Schwab Crypto trading to Solana, Avalanche and Chainlink, beyond Bitcoin and Ether. Broader product choice and competitive trading fees could attract customers and increase engagement, though the financial contribution is not yet clear. Read More.
• Neutral Sentiment: Schwab’s Trading Activity Index rose to 61.94 in October from 58.92 in September, indicating increased retail trading activity and more interest in individual stocks. This may support transaction activity, but the index alone does not show the effect on revenue. Read More.
• Negative Sentiment: Schwab cited accounting uncertainty around client cryptocurrency holdings, which could create financial-reporting and regulatory risks as its crypto business grows. Read More.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Dennis Howard sold 2,198 shares of Charles Schwab stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $110.00, for a total value of $241,780.00. Following the transaction, the insider owned 6,980 shares in the company, valued at $767,800. The trade was a 23.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Beatty sold 1,000 shares of Charles Schwab stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $111.33, for a total value of $111,330.00. Following the completion of the transaction, the insider owned 10,738 shares in the company, valued at approximately $1,195,461.54. This represents a 8.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 253,796 shares of company stock valued at $28,601,556 over the last ninety days. 6.30% of the stock is owned by corporate insiders.

About Charles Schwab

The Charles Schwab Corporation is a financial services company that provides brokerage, banking, wealth management, and investment services. Its offerings include brokerage accounts, trading and research tools, retirement products, banking services, and investment advice for individuals, as well as services for independent financial advisors, employers, and institutions.

Founded in 1971 by Charles R. Schwab, the company helped popularize discount brokerage services. It expanded its brokerage business with the 2020 acquisition of TD Ameritrade, whose trading platform and services became part of Schwab.

Based in Westlake, Texas, Schwab primarily serves clients in the United States and also has an international presence.