Viawealth LLC Cuts Position in The Charles Schwab Co. (NYSE:SCHW)

Viawealth LLC reduced its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 6.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 9,383 shares of the financial services provider’s stock after selling 665 shares during the period. Viawealth LLC’s holdings in Charles Schwab were worth $694,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Merit Financial Group LLC grew its stake 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 valued at $2,483,000 after acquiring an additional 23,383 shares during the last quarter. Benjamin Edwards Inc. grew its position 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 valued at $398,000 after purchasing an additional 5,937 shares during the last quarter. Synovus Financial Corp increased its stake in shares of Charles Schwab by 46.0% during the 3rd 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. Oregon Pacific Wealth Management LLC acquired a new position in shares of Charles Schwab during the 4th quarter worth approximately $688,000. Finally, Golden State Equity Partners lifted its stake in Charles Schwab by 293.9% in the 4th quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock valued at $903,000 after buying an additional 9,108 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Jefferies Financial Group boosted their target price on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, December 9th. UBS Group upped their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, January 27th. Piper Sandler boosted their price objective on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Finally, Barclays raised their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and a consensus target price of $86.33.

Insider Transactions at Charles Schwab

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul V. Woolway sold 3,380 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $79.32, for a total transaction of $268,101.60. Following the sale, the insider now directly owns 57,818 shares of the company’s stock, valued at approximately $4,586,123.76. The trade was a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 501,087 shares of company stock valued at $40,952,233 over the last quarter. Company insiders own 6.60% of the company’s stock.

Charles Schwab Stock Up 1.5 %

Shares of NYSE:SCHW opened at $78.72 on Thursday. The stock has a 50-day simple moving average of $78.76 and a 200-day simple moving average of $74.60. The stock has a market capitalization of $142.76 billion, a P/E ratio of 26.33, a PEG ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. The company had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 earnings per share. Equities analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is currently 36.12%.

Charles Schwab Company 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.