Schechter Investment Advisors LLC trimmed its stake in The Charles Schwab Co. (NYSE:SCHW – Free Report) by 66.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,041 shares of the financial services provider’s stock after selling 14,256 shares during the period. Schechter Investment Advisors LLC’s holdings in Charles Schwab were worth $369,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Circle Wealth Management LLC grew its position in Charles Schwab by 2.8% in the 4th quarter. Circle Wealth Management LLC now owns 4,811 shares of the financial services provider’s stock worth $401,000 after purchasing an additional 131 shares during the last quarter. Trustcore Financial Services LLC boosted its position in shares of Charles Schwab by 3.1% during the 4th quarter. Trustcore Financial Services LLC now owns 4,395 shares of the financial services provider’s stock valued at $366,000 after acquiring an additional 134 shares in the last quarter. CVA Family Office LLC boosted its position in shares of Charles Schwab by 26.8% during the 4th quarter. CVA Family Office LLC now owns 638 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 135 shares in the last quarter. Regal Investment Advisors LLC lifted its stake in Charles Schwab by 3.6% during the fourth quarter. Regal Investment Advisors LLC now owns 3,918 shares of the financial services provider’s stock worth $326,000 after purchasing an additional 135 shares during the period. Finally, Signet Financial Management LLC boosted its holdings in Charles Schwab by 0.3% during the fourth quarter. Signet Financial Management LLC now owns 49,378 shares of the financial services provider’s stock valued at $4,111,000 after purchasing an additional 139 shares in the last quarter. 82.77% of the stock is currently owned by institutional investors and hedge funds.
Charles Schwab Stock Performance
SCHW stock opened at $66.03 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.39 and a quick ratio of 0.39. The company has a 50 day moving average price of $54.95 and a 200 day moving average price of $62.65. The Charles Schwab Co. has a fifty-two week low of $45.00 and a fifty-two week high of $86.63. The stock has a market capitalization of $116.82 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 5.52 and a beta of 0.88.
Charles Schwab Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, May 26th. Shareholders of record on Friday, May 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Thursday, May 11th. Charles Schwab’s payout ratio is 27.32%.
Insider Buying and Selling at Charles Schwab
In other Charles Schwab news, Chairman Charles R. Schwab sold 77,640 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $51.76, for a total transaction of $4,018,646.40. Following the completion of the sale, the chairman now owns 59,771,278 shares in the company, valued at approximately $3,093,761,349.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.60% of the company’s stock.
Analyst Ratings Changes
A number of research firms have weighed in on SCHW. Morgan Stanley downgraded Charles Schwab from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $99.00 to $68.00 in a report on Thursday, March 30th. Redburn Partners downgraded Charles Schwab from a “neutral” rating to a “sell” rating in a report on Thursday, April 20th. Keefe, Bruyette & Woods decreased their price objective on Charles Schwab from $89.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday, April 6th. Citigroup lifted their price objective on Charles Schwab from $65.00 to $75.00 in a report on Wednesday. Finally, Barclays lifted their price objective on Charles Schwab from $62.00 to $70.00 in a report on Wednesday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.59.
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. The company operates in two segments, Investor Services and Advisor Services.
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