Destination Wealth Management Has $1.09 Million Position in The Charles Schwab Co. (NYSE:SCHW)

Destination Wealth Management trimmed its holdings in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 95.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,830 shares of the financial services provider's stock after selling 321,821 shares during the quarter. Destination Wealth Management's holdings in Charles Schwab were worth $1,091,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SCHW. Darsana Capital Partners LP boosted its holdings in shares of Charles Schwab by 200.0% during the 2nd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider's stock worth $221,070,000 after buying an additional 2,000,000 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Charles Schwab by 6.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider's stock worth $1,858,706,000 after acquiring an additional 1,711,312 shares during the last quarter. AustralianSuper Pty Ltd boosted its holdings in Charles Schwab by 2,617.6% during the third quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider's stock valued at $110,681,000 after acquiring an additional 1,644,931 shares during the period. Two Sigma Advisers LP acquired a new stake in shares of Charles Schwab in the third quarter valued at about $86,845,000. Finally, International Assets Investment Management LLC increased its stake in shares of Charles Schwab by 7,559.9% in the third quarter. International Assets Investment Management LLC now owns 889,779 shares of the financial services provider's stock worth $57,667,000 after purchasing an additional 878,163 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Price Performance

Charles Schwab stock traded up $0.42 during mid-day trading on Thursday, hitting $82.83. 7,469,379 shares of the company were exchanged, compared to its average volume of 7,992,711. The company has a market capitalization of $147.41 billion, a PE ratio of 32.25, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. The business has a fifty day moving average of $75.16 and a 200 day moving average of $70.32. The Charles Schwab Co. has a 1-year low of $59.67 and a 1-year high of $83.35. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The firm's quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $0.77 EPS. As a group, sell-side analysts expect that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Friday, November 8th. Charles Schwab's payout ratio is currently 39.06%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SCHW. Cowen increased their target price on Charles Schwab from $69.00 to $75.00 and gave the company a "hold" rating in a research note on Tuesday, October 15th. StockNews.com upgraded shares of Charles Schwab from a "sell" rating to a "hold" rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upped their target price on shares of Charles Schwab from $86.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Jefferies Financial Group increased their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the company a "buy" rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Charles Schwab from $77.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Charles Schwab has an average rating of "Hold" and a consensus target price of $79.75.

Insider Buying and Selling

In other news, insider Nigel J. Murtagh sold 12,739 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the transaction, the insider now directly owns 59,092 shares in the company, valued at approximately $4,796,497.64. This represents a 17.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan S. Beatty sold 2,300 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the sale, the insider now directly owns 18,069 shares of the company's stock, valued at approximately $1,481,838.69. This represents a 11.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,968 shares of company stock worth $9,419,271 in the last three months. Insiders own 6.60% of the company's stock.

Charles Schwab 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.