Alpha Cubed Investments LLC trimmed its stake in shares of The Charles Schwab Co. (NYSE:SCHW – Free Report) by 0.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 21,843 shares of the financial services provider’s stock after selling 182 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Charles Schwab were worth $1,617,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. Merit Financial Group LLC boosted its holdings in Charles Schwab by 230.1% in the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock worth $2,483,000 after buying an additional 23,383 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in shares of Charles Schwab by 2,840.7% in the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after acquiring an additional 5,937 shares during the last quarter. Synovus Financial Corp increased its position in shares of Charles Schwab by 46.0% during the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after purchasing an additional 21,377 shares in the last quarter. Patten & Patten Inc. TN lifted its holdings in Charles Schwab by 155.9% in the 3rd quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock valued at $6,751,000 after purchasing an additional 63,463 shares in the last quarter. Finally, Equity Investment Corp boosted its stake in Charles Schwab by 9.4% during the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock worth $106,299,000 after purchasing an additional 140,643 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.
Analysts Set New Price Targets
SCHW has been the subject of a number of recent research reports. Barclays raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $74.00 to $95.00 in a research note on Monday, December 9th. Piper Sandler raised their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. The Goldman Sachs Group lifted their price target on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lowered their target price on shares of Charles Schwab from $90.00 to $89.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Finally, Morgan Stanley boosted their price target on shares of Charles Schwab from $74.00 to $84.00 and gave the company an “equal weight” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $81.41.
Charles Schwab Trading Up 1.4 %
NYSE:SCHW opened at $76.53 on Tuesday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock’s 50 day simple moving average is $77.65 and its 200-day simple moving average is $70.62. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $83.35. The firm has a market cap of $136.20 billion, a P/E ratio of 29.90, a PEG ratio of 1.41 and a beta of 0.99.
Charles Schwab Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.31%. Charles Schwab’s dividend payout ratio (DPR) is 39.06%.
Insider Buying and Selling at Charles Schwab
In related news, insider Jonathan S. Beatty sold 2,300 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the sale, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. The trade was a 11.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nigel J. Murtagh sold 12,739 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 59,092 shares of the company’s stock, valued at approximately $4,796,497.64. This trade represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,823 shares of company stock valued at $2,171,194. 6.60% of the stock is owned by corporate insiders.
About Charles Schwab
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.
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