Blue Whale Capital LLP Trims Stake in The Charles Schwab Co. (NYSE:SCHW)

Blue Whale Capital LLP trimmed its stake in The Charles Schwab Co. (NYSE:SCHW) by 80.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,986 shares of the financial services provider’s stock after selling 986,014 shares during the period. Charles Schwab accounts for approximately 1.2% of Blue Whale Capital LLP’s holdings, making the stock its 19th largest position. Blue Whale Capital LLP’s holdings in Charles Schwab were worth $15,618,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Alliance Wealth Advisors LLC boosted its holdings in Charles Schwab by 2.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock worth $347,000 after buying an additional 142 shares during the period. GS Investments Inc. boosted its holdings in shares of Charles Schwab by 0.3% during the 3rd quarter. GS Investments Inc. now owns 57,434 shares of the financial services provider’s stock valued at $3,722,000 after purchasing an additional 146 shares during the last quarter. Washington Trust Advisors Inc. boosted its holdings in shares of Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 149 shares during the last quarter. Arcataur Capital Management LLC boosted its holdings in shares of Charles Schwab by 2.3% during the 3rd quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock valued at $431,000 after purchasing an additional 150 shares during the last quarter. Finally, Tandem Capital Management Corp ADV boosted its holdings in shares of Charles Schwab by 0.3% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider’s stock valued at $3,210,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW opened at $81.26 on Monday. The company has a market cap of $144.62 billion, a price-to-earnings ratio of 31.74, a price-to-earnings-growth ratio of 1.76 and a beta of 0.96. The Charles Schwab Co. has a twelve month low of $55.59 and a twelve month high of $82.50. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average of $70.55 and a two-hundred day moving average of $69.76.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $0.77 earnings per share. As a group, analysts predict that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. Charles Schwab’s dividend payout ratio is currently 39.06%.

Insiders Place Their Bets

In related news, Director Christopher V. Dodds sold 9,284 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $81.43, for a total transaction of $755,996.12. Following the completion of the transaction, the director now owns 442,807 shares of the company’s stock, valued at $36,057,774.01. This trade represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 2,500 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.02, for a total transaction of $192,550.00. Following the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This trade represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 112,929 shares of company stock valued at $8,196,624. Insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JMP Securities increased their price objective on shares of Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a report on Wednesday, October 16th. Piper Sandler increased their price objective on shares of Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Jefferies Financial Group reduced their price objective on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Raymond James reduced their target price on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Finally, Morgan Stanley raised their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $74.18.

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.