Pinnacle Wealth Management Advisory Group LLC Cuts Holdings in The Charles Schwab Co. (NYSE:SCHW)

Pinnacle Wealth Management Advisory Group LLC decreased its position in The Charles Schwab Co. (NYSE:SCHW) by 21.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,937 shares of the financial services provider’s stock after selling 2,701 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Charles Schwab were worth $684,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Investment Research & Advisory Group Inc. grew its holdings in Charles Schwab by 1.0% during the fourth quarter. Investment Research & Advisory Group Inc. now owns 58,979 shares of the financial services provider’s stock valued at $4,058,000 after purchasing an additional 607 shares during the period. Bamco Inc. NY boosted its position in Charles Schwab by 0.5% during the third quarter. Bamco Inc. NY now owns 8,102,475 shares of the financial services provider’s stock worth $444,826,000 after purchasing an additional 42,588 shares during the period. Retirement Systems of Alabama increased its stake in shares of Charles Schwab by 13.0% in the fourth quarter. Retirement Systems of Alabama now owns 1,329,388 shares of the financial services provider’s stock worth $91,462,000 after purchasing an additional 152,967 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Charles Schwab by 43.2% in the third quarter. Nisa Investment Advisors LLC now owns 551,682 shares of the financial services provider’s stock valued at $30,287,000 after purchasing an additional 166,316 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in Charles Schwab by 22.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider’s stock valued at $60,776,000 after buying an additional 160,719 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Up 1.1 %

Shares of NYSE:SCHW traded up $0.85 on Wednesday, reaching $76.40. 5,189,835 shares of the company traded hands, compared to its average volume of 7,574,732. The Charles Schwab Co. has a 52 week low of $46.55 and a 52 week high of $77.05. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82. The business’s 50-day simple moving average is $71.20 and its 200 day simple moving average is $65.15. The stock has a market capitalization of $135.68 billion, a P/E ratio of 31.96, a price-to-earnings-growth ratio of 1.11 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.71 billion. Charles Schwab had a return on equity of 19.86% and a net margin of 26.14%. As a group, equities analysts anticipate that The Charles Schwab Co. will post 3.42 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Thursday, May 9th. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

Analyst Upgrades and Downgrades

SCHW has been the subject of several analyst reports. Raymond James cut their target price on Charles Schwab from $78.00 to $75.00 and set an “outperform” rating for the company in a research note on Thursday, January 18th. JPMorgan Chase & Co. boosted their price objective on shares of Charles Schwab from $86.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Piper Sandler increased their target price on shares of Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. TD Cowen upped their price target on shares of Charles Schwab from $87.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, JMP Securities reissued a “market outperform” rating and set a $80.00 price objective on shares of Charles Schwab in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $74.47.

Insider Transactions at Charles Schwab

In other news, Chairman Charles R. Schwab sold 65,790 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $76.40, for a total transaction of $5,026,356.00. Following the transaction, the chairman now directly owns 60,906,686 shares of the company’s stock, valued at $4,653,270,810.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Charles Schwab news, Chairman Charles R. Schwab sold 89,275 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $74.62, for a total transaction of $6,661,700.50. Following the transaction, the chairman now owns 30,641,981 shares in the company, valued at approximately $2,286,504,622.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Charles R. Schwab sold 65,790 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $76.40, for a total value of $5,026,356.00. Following the completion of the transaction, the chairman now owns 60,906,686 shares of the company’s stock, valued at approximately $4,653,270,810.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 659,587 shares of company stock worth $47,399,731. Company insiders own 6.60% of the company’s stock.

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.