Left Brain Wealth Management LLC Decreases Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Left Brain Wealth Management LLC trimmed its position in The Charles Schwab Co. (NYSE:SCHW) by 11.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 48,676 shares of the financial services provider’s stock after selling 6,565 shares during the period. Charles Schwab makes up 1.4% of Left Brain Wealth Management LLC’s holdings, making the stock its 27th biggest holding. Left Brain Wealth Management LLC’s holdings in Charles Schwab were worth $3,603,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SCHW. Franklin Resources Inc. increased its stake in shares of Charles Schwab by 15.0% in 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 buying an additional 3,157,923 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Charles Schwab in the fourth quarter worth $189,791,000. Veritas Asset Management LLP bought a new position in shares of Charles Schwab during the fourth quarter valued at approximately $185,649,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Charles Schwab by 6.3% during the third 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 acquiring an additional 1,711,312 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of Charles Schwab by 186.7% during the fourth quarter. KBC Group NV now owns 2,138,033 shares of the financial services provider’s stock valued at $158,236,000 after acquiring an additional 1,392,255 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $73.49 on Friday. The company has a market capitalization of $133.28 billion, a price-to-earnings ratio of 24.58, a P/E/G ratio of 0.99 and a beta of 0.98. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50. The company has a 50 day simple moving average of $78.41 and a two-hundred day simple moving average of $74.16.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the company earned $0.68 EPS. Charles Schwab’s revenue for the quarter was up 19.5% on a year-over-year basis. Analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.47%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. Charles Schwab’s dividend payout ratio (DPR) is presently 36.12%.

Insider Buying and Selling

In related news, insider Paul V. Woolway sold 9,887 shares of Charles Schwab stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total value of $745,282.06. Following the completion of the sale, the insider now owns 47,931 shares of the company’s stock, valued at $3,613,038.78. The trade was a 17.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the sale, the chairman now directly owns 827,377 shares of the company’s stock, valued at $67,770,450.07. The trade was a 35.96 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 501,087 shares of company stock worth $40,952,233. 6.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SCHW shares. Citigroup upped their target price on Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Redburn Partners decreased their target price on Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a report on Friday, January 17th. Truist Financial upped their target price on Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. upped their target price on Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Finally, Barclays increased their target price on 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 issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $86.33.

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.