Adage Capital Partners GP L.L.C. Has $103.45 Million Holdings in The Charles Schwab Co. (NYSE:SCHW)

Adage Capital Partners GP L.L.C. trimmed its position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,397,739 shares of the financial services provider's stock after selling 10,400 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.08% of Charles Schwab worth $103,447,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SCHW. Vanguard Group Inc. grew its holdings in Charles Schwab by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider's stock valued at $9,516,075,000 after buying an additional 1,187,384 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Charles Schwab by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider's stock worth $2,279,742,000 after acquiring an additional 760,043 shares during the last quarter. Franklin Resources Inc. increased its position 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 acquiring an additional 3,157,923 shares during the period. Fisher Asset Management LLC raised its stake in Charles Schwab by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider's stock valued at $1,513,894,000 after purchasing an additional 265,708 shares during the last quarter. Finally, Norges Bank bought a new stake in Charles Schwab in the 4th quarter valued at $1,289,544,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Stock Up 2.2 %

Shares of NYSE SCHW opened at $76.60 on Wednesday. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50. The firm's 50-day simple moving average is $76.91 and its 200 day simple moving average is $76.74. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The company has a market cap of $138.92 billion, a price-to-earnings ratio of 25.62, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.03. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same period in the prior year, the business earned $0.74 earnings per share. On average, research analysts expect that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.27 dividend. This is a boost from Charles Schwab's previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Friday, February 14th. Charles Schwab's dividend payout ratio (DPR) is 36.12%.

Insider Activity

In other Charles Schwab news, Director Frank C. Herringer sold 3,592 shares of the company's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $74.26, for a total transaction of $266,741.92. Following the completion of the sale, the director now owns 172,162 shares in the company, valued at approximately $12,784,750.12. The trade was a 2.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Arun Sarin sold 8,548 shares of the firm's stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the transaction, the director now owns 18,617 shares in the company, valued at $1,523,242.94. This represents a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 502,030 shares of company stock valued at $40,988,118 over the last 90 days. 6.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Piper Sandler boosted their price objective on shares of Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. TD Cowen raised Charles Schwab from a "hold" rating to a "buy" rating and upped their price target for the company from $88.00 to $103.00 in a report on Tuesday, February 18th. Redburn Partners lowered their price objective on Charles Schwab from $70.00 to $68.00 and set a "sell" rating on the stock in a research report on Friday, January 17th. Keefe, Bruyette & Woods raised their target price on Charles Schwab from $90.00 to $93.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, Barclays lowered their price target on shares of Charles Schwab from $96.00 to $84.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $85.78.

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.

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