Harrington Investments INC Buys 1,940 Shares of The Charles Schwab Co. (NYSE:SCHW)

15 Oct 2024, 15:42 by Sarita Garza · The Markets Daily

Harrington Investments INC increased its stake in The Charles Schwab Co. (NYSE:SCHW – Free Report) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,527 shares of the financial services provider’s stock after purchasing an additional 1,940 shares during the period. Charles Schwab makes up approximately 2.0% of Harrington Investments INC’s portfolio, making the stock its 14th biggest holding. Harrington Investments INC’s holdings in Charles Schwab were worth $3,664,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SCHW. MONECO Advisors LLC bought a new position in shares of Charles Schwab in the fourth quarter worth approximately $228,000. Trust Co. of Toledo NA OH bought a new position in Charles Schwab during the first quarter valued at approximately $237,000. GAMMA Investing LLC grew its position in Charles Schwab by 18.8% during the first quarter. GAMMA Investing LLC now owns 13,684 shares of the financial services provider’s stock valued at $990,000 after acquiring an additional 2,161 shares during the last quarter. First Hawaiian Bank grew its position in Charles Schwab by 2.0% during the first quarter. First Hawaiian Bank now owns 108,365 shares of the financial services provider’s stock valued at $7,839,000 after acquiring an additional 2,088 shares during the last quarter. Finally, Rise Advisors LLC grew its position in Charles Schwab by 4,025.0% during the first quarter. Rise Advisors LLC now owns 825 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 805 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SCHW shares. TD Cowen reiterated a “hold” rating and set a $71.00 price target (down from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Bank of America reduced their price target on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $80.00 price target on shares of Charles Schwab in a research report on Thursday, August 22nd. Jefferies Financial Group reduced their price target 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. Finally, The Goldman Sachs Group reduced their price target on shares of Charles Schwab from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, September 26th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $72.25.

Read Our Latest Report on Charles Schwab

Insider Buying and Selling at Charles Schwab

In other news, CEO Walter W. Bettinger acquired 25,000 shares of the stock in a transaction on Wednesday, July 17th. The stock was acquired at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the transaction, the chief executive officer now owns 827,377 shares of the company’s stock, valued at $54,822,000.02. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $61.96, for a total value of $557,640.00. Following the completion of the transaction, the director now owns 567,057 shares of the company’s stock, valued at $35,134,851.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Walter W. Bettinger purchased 25,000 shares of Charles Schwab stock in a transaction dated Wednesday, July 17th. The shares were acquired at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the transaction, the chief executive officer now directly owns 827,377 shares in the company, valued at approximately $54,822,000.02. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 98,856 shares of company stock valued at $6,398,604. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $67.87 on Tuesday. The stock has a fifty day moving average of $64.23 and a 200 day moving average of $69.49. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week high of $79.49. The firm has a market capitalization of $120.70 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 1.43 and a beta of 0.97. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW – Get Free Report) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The firm’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 earnings per share. As a group, research analysts expect that The Charles Schwab Co. will post 3.06 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s dividend payout ratio is currently 41.49%.

Charles Schwab Profile

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