Alliancebernstein L.P. Sells 642,412 Shares of The Charles Schwab Co. (NYSE:SCHW)

Alliancebernstein L.P. lowered its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 4.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,760,450 shares of the financial services provider's stock after selling 642,412 shares during the quarter. Alliancebernstein L.P. owned approximately 0.83% of Charles Schwab worth $1,092,421,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SCHW. Norges Bank bought a new position in shares of Charles Schwab during the 4th quarter valued at about $1,289,544,000. Primecap Management Co. CA increased its position in shares of Charles Schwab by 310.3% in the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider's stock worth $314,716,000 after acquiring an additional 3,216,000 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of 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 valued at $1,644,674,000 after acquiring an additional 3,157,923 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Charles Schwab by 91.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,217,799 shares of the financial services provider's stock valued at $460,179,000 after acquiring an additional 2,962,878 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Charles Schwab in the 4th quarter worth approximately $189,791,000. 84.38% of the stock is currently owned by institutional investors.

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Charles Schwab Stock Performance

SCHW traded up $1.00 on Wednesday, hitting $78.67. The company had a trading volume of 8,868,743 shares, compared to its average volume of 8,890,526. The stock has a market cap of $142.67 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The company's fifty day moving average price is $79.52 and its 200 day moving average price is $75.67. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to analysts' expectations of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. Charles Schwab's revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share. Equities analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on Charles Schwab from $98.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. TD Cowen upgraded Charles Schwab from a "hold" rating to a "buy" rating and raised their price objective for the stock from $88.00 to $103.00 in a research report on Tuesday, February 18th. JPMorgan Chase & Co. lifted their target price on Charles Schwab from $87.00 to $93.00 and gave the company an "overweight" rating in a research note on Tuesday, January 7th. Piper Sandler increased their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company raised shares of Charles Schwab from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $87.28.

Insiders Place Their Bets

In related news, General Counsel Peter J. Morgan III sold 14,643 shares of the firm's stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of the company's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the sale, the chairman now directly owns 827,377 shares in the company, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 509,701 shares of company stock worth $41,641,353 in the last ninety days. Insiders own 6.60% of the company's stock.

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.