Charles Schwab (NYSE:SCHW) Price Target Cut to $132.00 by Analysts at Morgan Stanley

Charles Schwab (NYSE:SCHW) had its price target lowered by equities researchers at Morgan Stanley from $141.00 to $132.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 43.50% from the company’s current price.

A number of other brokerages have also weighed in on SCHW. The Goldman Sachs Group restated a “buy” rating and issued a $117.00 target price (down from $122.00) on shares of Charles Schwab in a research report on Friday, October 16th. Piper Sandler lowered their price target on shares of Charles Schwab from $118.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, October 2nd. Bank of America increased their price target on Charles Schwab from $91.00 to $95.00 and gave the company an “underperform” rating in a research note on Monday, October 5th. Argus raised their price objective on Charles Schwab from $108.00 to $114.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on Charles Schwab from $150.00 to $147.00 and set an “overweight” rating on the stock in a research report on Friday, October 16th. Eighteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.18.

Charles Schwab Price Performance

SCHW stock traded up $1.09 during midday trading on Wednesday, reaching $91.98. The company had a trading volume of 1,860,021 shares, compared to its average volume of 10,054,807. Charles Schwab has a 1-year low of $83.96 and a 1-year high of $114.53. The stock has a 50 day moving average price of $103.79 and a 200-day moving average price of $98.14. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market capitalization of $159.07 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 0.79 and a beta of 0.79.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, October 15th. The financial services provider reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.03. The firm had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.18 billion. Charles Schwab had a return on equity of 25.79% and a net margin of 39.33%. The company’s quarterly revenue was up 16.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.31 earnings per share. Equities research analysts expect that Charles Schwab will post 6.43 earnings per share for the current year.

Insider Buying and Selling at Charles Schwab

In other news, insider Nigel J. Murtagh sold 24,778 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $109.01, for a total transaction of $2,701,049.78. Following the transaction, the insider owned 57,972 shares of the company’s stock, valued at $6,319,527.72. This represents a 29.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paula A. Sneed sold 5,263 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $107.15, for a total value of $563,930.45. Following the completion of the sale, the director directly owned 91,711 shares of the company’s stock, valued at $9,826,833.65. This trade represents a 5.43% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 639,529 shares of company stock valued at $68,923,436. 6.30% of the stock is owned by corporate insiders.

Institutional Trading of Charles Schwab

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCHW. Sowell Financial Services LLC increased its holdings in Charles Schwab by 98.7% during the 3rd quarter. Sowell Financial Services LLC now owns 27,029 shares of the financial services provider’s stock valued at $2,642,000 after acquiring an additional 13,429 shares in the last quarter. Physician Wealth Advisors Inc. raised its position in Charles Schwab by 126.0% during the third quarter. Physician Wealth Advisors Inc. now owns 730 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 407 shares during the last quarter. Pinnacle Associates Ltd. raised its position in Charles Schwab by 0.6% during the third quarter. Pinnacle Associates Ltd. now owns 25,891 shares of the financial services provider’s stock worth $2,531,000 after acquiring an additional 142 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Charles Schwab by 14.2% in the third quarter. Nisa Investment Advisors LLC now owns 433,286 shares of the financial services provider’s stock valued at $42,349,000 after purchasing an additional 53,929 shares in the last quarter. Finally, Integrated Advisors Network LLC lifted its holdings in shares of Charles Schwab by 8.6% in the third quarter. Integrated Advisors Network LLC now owns 79,967 shares of the financial services provider’s stock valued at $7,816,000 after purchasing an additional 6,330 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Company Profile

The Charles Schwab Corporation (NYSE: SCHW) is a financial services company that provides investment, wealth management, banking and related services to individual investors, financial professionals and institutional clients. Through its brokerage business, Schwab offers trading and custody services for stocks, exchange-traded funds, mutual funds, options, fixed-income securities and other investments, along with retirement accounts and investment research tools.

The company also provides advisory and wealth management services, including managed portfolios, financial planning and support for registered investment advisors.