DSM Capital Partners LLC Sells 852,454 Shares of The Charles Schwab Co. (NYSE:SCHW)

DSM Capital Partners LLC trimmed its holdings in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 39.0% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,334,569 shares of the financial services provider's stock after selling 852,454 shares during the quarter. Charles Schwab accounts for about 1.4% of DSM Capital Partners LLC's holdings, making the stock its 22nd biggest holding. DSM Capital Partners LLC owned approximately 0.08% of Charles Schwab worth $98,344,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Charles Schwab by 0.9% during the first quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider's stock valued at $8,750,473,000 after purchasing an additional 1,042,823 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Charles Schwab by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider's stock valued at $5,230,657,000 after acquiring an additional 2,946,327 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Charles Schwab by 1.6% during the fourth quarter. Fisher Asset Management LLC now owns 18,623,505 shares of the financial services provider's stock worth $1,281,297,000 after purchasing an additional 292,155 shares during the period. Putnam Investments LLC raised its position in Charles Schwab by 4.8% during the 4th quarter. Putnam Investments LLC now owns 12,237,705 shares of the financial services provider's stock valued at $841,954,000 after purchasing an additional 560,110 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Charles Schwab by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 11,668,610 shares of the financial services provider's stock worth $802,800,000 after buying an additional 1,373,223 shares during the last quarter. Institutional investors own 84.38% of the company's stock.

Charles Schwab Stock Performance

SCHW traded down $0.23 during mid-day trading on Thursday, reaching $63.81. 7,601,791 shares of the company traded hands, compared to its average volume of 8,066,853. The company's fifty day moving average price is $64.02 and its 200-day moving average price is $69.87. The stock has a market capitalization of $113.41 billion, a P/E ratio of 26.70, a P/E/G ratio of 1.22 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. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The business had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.68 billion. During the same period last year, the firm posted $0.75 earnings per share. The business's revenue for the quarter was up .7% on a year-over-year basis. On average, sell-side analysts expect that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.57%. Charles Schwab's payout ratio is presently 41.84%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SCHW shares. Piper Sandler downgraded shares of Charles Schwab from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $80.00 to $64.00 in a research report on Monday, July 29th. UBS Group cut their price objective on Charles Schwab from $91.00 to $90.00 and set a "buy" rating on the stock in a research report on Tuesday, July 9th. The Goldman Sachs Group reduced their target price on Charles Schwab from $71.00 to $67.00 and set a "neutral" rating on the stock in a report on Thursday. Keefe, Bruyette & Woods restated an "outperform" rating and set a $80.00 price target on shares of Charles Schwab in a research report on Thursday, August 22nd. Finally, Wells Fargo & Company started coverage on Charles Schwab in a report on Thursday, September 12th. They issued an "equal weight" rating and a $70.00 price objective for the company. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $73.50.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 780 shares of the company's stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $75.00, for a total value of $58,500.00. Following the completion of the sale, the insider now owns 18,069 shares in the company, valued at $1,355,175. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Jonathan S. Beatty sold 780 shares of Charles Schwab stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the transaction, the insider now owns 18,069 shares in the company, valued at approximately $1,355,175. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul V. Woolway sold 1,150 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total value of $74,980.00. Following the completion of the sale, the insider now owns 61,887 shares of the company's stock, valued at approximately $4,035,032.40. The disclosure for this sale can be found here. Insiders have sold 99,636 shares of company stock worth $6,457,104 in the last 90 days. 6.60% of the stock is currently owned by insiders.

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.