Pictet Asset Management Holding SA Sells 81,570 Shares of The Charles Schwab Corporation $SCHW

Pictet Asset Management Holding SA cut its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 7.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 953,718 shares of the financial services provider’s stock after selling 81,570 shares during the period. Pictet Asset Management Holding SA owned 0.06% of Charles Schwab worth $93,217,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Leelyn Smith LLC increased its holdings in Charles Schwab by 2.3% during the third quarter. Leelyn Smith LLC now owns 54,641 shares of the financial services provider’s stock worth $5,341,000 after buying an additional 1,216 shares during the last quarter. Verus Capital Partners LLC acquired a new stake in Charles Schwab in the third quarter valued at $209,000. W.G. Shaheen & Associates DBA Whitney & Co lifted its stake in Charles Schwab by 0.8% in the third quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 316,798 shares of the financial services provider’s stock valued at $30,964,000 after acquiring an additional 2,419 shares during the last quarter. Your Advocates Ltd. LLP acquired a new stake in Charles Schwab in the third quarter valued at $68,000. Finally, United Advisor Group LLC bought a new position in shares of Charles Schwab in the 3rd quarter valued at about $483,000. 84.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several recent analyst reports. Piper Sandler lowered their price objective on shares of Charles Schwab from $118.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, October 2nd. TD Cowen raised their target price on shares of Charles Schwab from $128.00 to $129.00 and gave the company a “buy” rating in a research note on Monday, October 12th. Jefferies Financial Group set a $120.00 price target on Charles Schwab in a report on Friday, October 16th. UBS Group lowered their price target on Charles Schwab from $113.00 to $109.00 and set a “buy” rating on the stock in a research report on Friday, October 16th. Finally, Deutsche Bank Aktiengesellschaft set a $125.00 price objective on Charles Schwab and gave the company a “buy” rating in a research note on Friday, October 16th. Eighteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $119.91.

Key Stories Impacting 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.

Charles Schwab Trading Up 1.4%

SCHW stock opened at $92.78 on Tuesday. The Charles Schwab Corporation has a one year low of $83.96 and a one year high of $114.53. The stock has a market cap of $160.45 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 0.83 and a beta of 0.77. The company has a fifty day moving average price of $98.16 and a two-hundred day moving average price of $97.35. 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 data on Thursday, October 15th. The financial services provider reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.03. The company had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.18 billion. Charles Schwab had a net margin of 39.33% and a return on equity of 25.79%. The company’s revenue was up 16.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.31 earnings per share. Equities analysts anticipate that The Charles Schwab Corporation will post 6.41 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, November 13th. Charles Schwab’s dividend payout ratio is currently 21.84%.

Insider Buying and Selling at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 176,210 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $113.49, for a total transaction of $19,998,072.90. Following the completion of the sale, the chairman owned 610,360 shares in the company, valued at $69,269,756.40. The trade was a 22.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Dennis Howard sold 2,198 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $110.00, for a total value of $241,780.00. Following the sale, the insider owned 6,980 shares of the company’s stock, valued at approximately $767,800. This represents a 23.95% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 253,796 shares of company stock valued at $28,601,556 in the last three months. 6.30% of the stock is currently owned by company insiders.

Charles Schwab Profile

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.