Wealth Quarterback LLC Has $387,000 Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Wealth Quarterback LLC lessened its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 30.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,977 shares of the financial services provider’s stock after selling 2,667 shares during the period. Wealth Quarterback LLC’s holdings in Charles Schwab were worth $387,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of SCHW. Assetmark Inc. boosted its holdings in Charles Schwab by 24.1% in the third quarter. Assetmark Inc. now owns 172,042 shares of the financial services provider’s stock valued at $11,150,000 after acquiring an additional 33,454 shares during the last quarter. Beta Wealth Group Inc. lifted its position in shares of Charles Schwab by 7.8% in the 3rd quarter. Beta Wealth Group Inc. now owns 6,903 shares of the financial services provider’s stock worth $447,000 after purchasing an additional 501 shares during the period. Washington Trust Advisors Inc. boosted its stake in shares of Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 149 shares during the last quarter. Crumly & Associates Inc. increased its position in shares of Charles Schwab by 2.5% during the third quarter. Crumly & Associates Inc. now owns 9,425 shares of the financial services provider’s stock worth $611,000 after buying an additional 230 shares during the period. Finally, United Bank raised its stake in Charles Schwab by 13.0% during the third quarter. United Bank now owns 11,352 shares of the financial services provider’s stock worth $736,000 after buying an additional 1,309 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on SCHW shares. Raymond James decreased their price target on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft decreased their target price on Charles Schwab from $77.00 to $76.00 in a research note on Tuesday, October 15th. Piper Sandler boosted their price target on Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Citigroup cut their price target on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, September 27th. Finally, The Goldman Sachs Group lifted their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and a consensus target price of $73.94.

Charles Schwab Trading Up 1.3 %

NYSE SCHW opened at $73.89 on Friday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The business has a fifty day simple moving average of $67.24 and a 200 day simple moving average of $69.52. The Charles Schwab Co. has a 12 month low of $53.49 and a 12 month high of $79.49. The firm has a market capitalization of $131.41 billion, a P/E ratio of 28.86, a PEG ratio of 1.74 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, analysts predict that The Charles Schwab Co. will post 3.11 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.35%. Charles Schwab’s payout ratio is presently 39.06%.

Insider Activity

In other news, Chairman Charles R. Schwab sold 62,345 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the sale, the director now directly owns 554,929 shares in the company, valued at $35,543,202.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,465 shares of company stock valued at $8,050,109 over the last three months. Corporate insiders own 6.60% of the company’s stock.

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.