Drive Wealth Management LLC Sells 346 Shares of The Charles Schwab Co. (NYSE:SCHW)

Drive Wealth Management LLC trimmed its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,495 shares of the financial services provider’s stock after selling 346 shares during the quarter. Drive Wealth Management LLC’s holdings in Charles Schwab were worth $703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Charles Schwab by 0.7% in the third quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock valued at $4,023,175,000 after buying an additional 414,949 shares during the period. Geode Capital Management LLC boosted its stake in Charles Schwab by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock valued at $1,945,614,000 after purchasing an additional 445,304 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Charles Schwab by 6.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after buying an additional 1,711,312 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after purchasing an additional 3,157,923 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Charles Schwab by 2.5% in the third quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock valued at $1,308,485,000 after acquiring an additional 493,264 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Down 0.5 %

Shares of SCHW stock opened at $81.67 on Monday. The stock’s 50-day moving average price is $77.81 and its 200-day moving average price is $70.86. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $83.35. The stock has a market capitalization of $145.34 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 1.46 and a beta of 0.99. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5,190,822.51 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 EPS. Equities research analysts predict that The Charles Schwab Co. will post 4.09 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Christopher V. Dodds sold 9,284 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $81.43, for a total transaction of $755,996.12. Following the completion of the sale, the director now directly owns 442,807 shares of the company’s stock, valued at approximately $36,057,774.01. The trade was a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of Charles Schwab stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total transaction of $1,181,690.10. The disclosure for this sale can be found here. Insiders sold a total of 41,466 shares of company stock worth $3,352,884 over the last three months. 6.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SCHW. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Piper Sandler lifted their price objective on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. JMP Securities reissued a “market outperform” rating and issued a $94.00 price target (up previously from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Morgan Stanley upped their target price on Charles Schwab from $74.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Finally, Bank of America decreased their price objective on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and a consensus price target of $83.83.

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.