Banque Pictet & Cie SA Sells 8,526 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Banque Pictet & Cie SA lessened its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 5.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 144,504 shares of the financial services provider's stock after selling 8,526 shares during the quarter. Banque Pictet & Cie SA's holdings in Charles Schwab were worth $11,312,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Atwood & Palmer Inc. purchased a new position in Charles Schwab in the 1st quarter worth approximately $25,000. Westside Investment Management Inc. lifted its position in Charles Schwab by 75.0% in the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock worth $27,000 after buying an additional 150 shares during the last quarter. WFA Asset Management Corp bought a new stake in Charles Schwab in the 1st quarter worth approximately $33,000. Cornerstone Planning Group LLC lifted its position in Charles Schwab by 90.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider's stock worth $36,000 after buying an additional 220 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp purchased a new position in Charles Schwab in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 84.38% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on SCHW shares. Keefe, Bruyette & Woods lifted their price target on Charles Schwab from $90.00 to $93.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. lifted their price target on Charles Schwab from $92.00 to $95.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. The Goldman Sachs Group raised Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research note on Friday, April 25th. Piper Sandler lifted their price target on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Finally, Citigroup lifted their price target on Charles Schwab from $102.00 to $105.00 and gave the stock a "buy" rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.85.

Charles Schwab Stock Up 0.4%

SCHW stock traded up $0.36 during midday trading on Wednesday, hitting $92.31. The stock had a trading volume of 6,139,737 shares, compared to its average volume of 9,556,328. The firm has a market cap of $167.72 billion, a price-to-earnings ratio of 27.97, a price-to-earnings-growth ratio of 0.99 and a beta of 0.93. The business has a 50-day moving average of $87.91 and a two-hundred day moving average of $81.08. The Charles Schwab Corporation has a 52-week low of $61.01 and a 52-week high of $92.80. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same period in the previous year, the company posted $0.74 earnings per share. As a group, equities research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab's dividend payout ratio (DPR) is 32.73%.

Insiders Place Their Bets

In other news, insider Jonathan S. Beatty sold 2,850 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $87.57, for a total transaction of $249,574.50. Following the transaction, the insider directly owned 15,219 shares of the company's stock, valued at $1,332,727.83. This represents a 15.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nigel J. Murtagh sold 20,872 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total value of $1,878,688.72. Following the transaction, the insider directly owned 58,999 shares in the company, valued at approximately $5,310,499.99. The trade was a 26.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,905 shares of company stock valued at $10,530,833. Company insiders own 6.30% of the company's stock.

Charles Schwab Company Profile

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.