Harrington Investments INC Sells 2,317 Shares of The Charles Schwab Co. (NYSE:SCHW)


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Harrington Investments INC cut its holdings in The Charles Schwab Co. (NYSE:SCHW) by 4.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 49,817 shares of the financial services provider’s stock after selling 2,317 shares during the period. The Charles Schwab comprises approximately 1.8% of Harrington Investments INC’s holdings, making the stock its 19th largest position. Harrington Investments INC’s holdings in The Charles Schwab were worth $2,642,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Pinnacle Bank boosted its holdings in shares of The Charles Schwab by 7.9% during the 4th quarter. Pinnacle Bank now owns 2,614 shares of the financial services provider’s stock worth $139,000 after buying an additional 192 shares in the last quarter. Fruth Investment Management acquired a new position in shares of The Charles Schwab during the 4th quarter valued at $815,000. Sowell Financial Services LLC boosted its stake in The Charles Schwab by 32.0% during the fourth quarter. Sowell Financial Services LLC now owns 28,078 shares of the financial services provider’s stock worth $1,489,000 after acquiring an additional 6,811 shares in the last quarter. Acropolis Investment Management LLC acquired a new stake in The Charles Schwab in the fourth quarter worth $124,000. Finally, CX Institutional increased its stake in The Charles Schwab by 19.7% in the fourth quarter. CX Institutional now owns 1,705 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 281 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Shares of NYSE SCHW traded down $1.69 during trading on Wednesday, hitting $59.51. The stock had a trading volume of 17,164,396 shares, compared to its average volume of 11,429,899. The firm has a fifty day moving average of $52.32 and a two-hundred day moving average of $40.88. The company has a market capitalization of $111.67 billion, a PE ratio of 28.33 and a beta of 1.13. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.30 and a quick ratio of 0.30. The Charles Schwab Co. has a 12 month low of $28.00 and a 12 month high of $62.04.

The Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, October 15th. The financial services provider reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.01. The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.43 billion. The Charles Schwab had a net margin of 29.80% and a return on equity of 14.02%. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 earnings per share. On average, equities analysts expect that The Charles Schwab Co. will post 2.17 earnings per share for the current fiscal year.

Several brokerages have recently commented on SCHW. Morgan Stanley raised their target price on The Charles Schwab from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised The Charles Schwab from a “neutral” rating to a “buy” rating and raised their price objective for the company from $44.00 to $54.00 in a research note on Tuesday, November 17th. Smith Barney Citigroup raised The Charles Schwab from a “neutral” rating to a “buy” rating and upped their target price for the stock from $44.00 to $54.00 in a research report on Tuesday, November 17th. Credit Suisse Group lifted their price target on shares of The Charles Schwab from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Tuesday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of The Charles Schwab from a “hold” rating to a “buy” rating and upped their price objective for the stock from $43.00 to $53.00 in a report on Wednesday, November 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $50.54.

In related news, Chairman Charles R. Schwab sold 202,040 shares of the business’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $45.34, for a total value of $9,160,493.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 66,288 shares of the stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $37.74, for a total transaction of $2,501,709.12. The disclosure for this sale can be found here. Insiders sold a total of 1,348,287 shares of company stock worth $64,923,383 in the last 90 days. Company insiders own 10.80% of the company’s stock.

About The Charles Schwab

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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Institutional Ownership by Quarter for The Charles Schwab (NYSE:SCHW)

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