Bard Financial Services Inc. Reduces Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Bard Financial Services Inc. cut its stake in The Charles Schwab Co. (NYSE:SCHW) by 6.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,275 shares of the financial services provider’s stock after selling 2,000 shares during the quarter. Bard Financial Services Inc.’s holdings in Charles Schwab were worth $2,027,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SCHW. State Street Corp boosted its holdings in shares of 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 valued at $4,023,175,000 after buying an additional 414,949 shares in the last quarter. Geode Capital Management LLC lifted its position in Charles Schwab by 1.5% during the 3rd 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 acquiring an additional 445,304 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of 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 valued at $1,858,706,000 after purchasing an additional 1,711,312 shares in the last quarter. Fisher Asset Management LLC increased its position in Charles Schwab by 2.5% during the 3rd quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock valued at $1,308,485,000 after buying an additional 493,264 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Charles Schwab by 2.1% during the second quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock valued at $802,193,000 after buying an additional 225,397 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,300 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the transaction, the insider now owns 18,069 shares of the company’s stock, valued at $1,481,838.69. This represents a 11.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now directly owns 554,929 shares of the company’s stock, valued at $35,543,202.45. The trade was a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,968 shares of company stock worth $9,419,271 in the last quarter. Company insiders own 6.60% of the company’s stock.

Charles Schwab Trading Up 0.2 %

Shares of NYSE:SCHW opened at $82.49 on Wednesday. The company has a market capitalization of $146.80 billion, a PE ratio of 32.17, a PEG ratio of 1.77 and a beta of 0.96. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average of $74.41 and a two-hundred day moving average of $70.16. The Charles Schwab Co. has a 12-month low of $59.67 and a 12-month high of $83.35.

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

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.21%. The ex-dividend date was Friday, November 8th. Charles Schwab’s payout ratio is currently 39.06%.

Wall Street Analyst Weigh In

SCHW has been the topic of several recent analyst reports. Piper Sandler increased their target price on Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Cowen upped their price objective on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Wells Fargo & Company boosted their price target on Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, Barclays raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $74.00 to $95.00 in a report on Monday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $78.81.

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.