Charles Schwab (NYSE:SCHW) Stock Sold Off Rep. Morgan McGarvey

Representative Morgan McGarvey (D-Kentucky) recently sold shares of The Charles Schwab Co. NYSE: SCHW. In a filing disclosed on December 10th, the Representative disclosed that they had sold between $1,001 and $15,000 in Charles Schwab stock on November 13th. The trade occurred in the Representative's "CHRIS IRA" account.

Representative Morgan McGarvey also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Tesla NASDAQ: TSLA on 11/13/2024.
• Sold $1,001 - $15,000 in shares of Shell NYSE: SHEL on 11/13/2024.
• Sold $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 11/13/2024.
• Sold $1,001 - $15,000 in shares of Interactive Brokers Group NASDAQ: IBKR on 11/13/2024.
• Sold $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 11/13/2024.
• Sold $1,001 - $15,000 in shares of Microsoft NASDAQ: MSFT on 11/13/2024.
• Sold $15,001 - $50,000 in shares of NVIDIA NASDAQ: NVDA on 11/13/2024.
• Sold $1,001 - $15,000 in shares of Trump Media & Technology Group NASDAQ: DJT on 11/8/2024.
• Purchased $1,001 - $15,000 in shares of Trump Media & Technology Group NASDAQ: DJT on 11/6/2024.
• Purchased $1,001 - $15,000 in shares of Tesla NASDAQ: TSLA on 10/25/2024.

Charles Schwab Stock Up 0.5 %

Shares of Charles Schwab stock traded up $0.42 during midday trading on Thursday, reaching $82.83. 7,469,379 shares of the company's stock traded hands, compared to its average volume of 7,992,711. 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 52 week low of $59.67 and a 52 week high of $83.35. The company's 50 day simple moving average is $75.16 and its 200 day simple moving average is $70.32. The company has a market cap of $147.41 billion, a price-to-earnings ratio of 32.36, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the business earned $0.77 EPS. The firm's revenue was up 5.2% compared to the same quarter last year. Equities analysts expect that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. Charles Schwab's dividend payout ratio is currently 39.06%.

Insider Activity at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. The trade was a 1.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction dated 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 transaction, the chairman now owns 60,619,371 shares of the company's stock, valued at approximately $4,396,116,784.92. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,968 shares of company stock valued at $9,419,271. 6.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Charles Schwab

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. RFG Advisory LLC increased its holdings in shares of Charles Schwab by 7.4% in the second quarter. RFG Advisory LLC now owns 8,806 shares of the financial services provider's stock worth $649,000 after acquiring an additional 610 shares in the last quarter. Diversified Trust Co lifted its stake in Charles Schwab by 26.0% in the second quarter. Diversified Trust Co now owns 7,737 shares of the financial services provider's stock valued at $570,000 after buying an additional 1,595 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in shares of Charles Schwab by 2.7% in the second quarter. NorthCrest Asset Manangement LLC now owns 15,519 shares of the financial services provider's stock valued at $1,144,000 after buying an additional 405 shares during the period. Great Valley Advisor Group Inc. increased its position in shares of Charles Schwab by 7.5% during the second quarter. Great Valley Advisor Group Inc. now owns 25,163 shares of the financial services provider's stock worth $1,854,000 after acquiring an additional 1,758 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. raised its holdings in shares of Charles Schwab by 69.3% during the second quarter. Ferguson Wellman Capital Management Inc. now owns 7,810 shares of the financial services provider's stock worth $576,000 after acquiring an additional 3,196 shares during the period. Institutional investors own 84.38% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Charles Schwab from $77.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. JPMorgan Chase & Co. raised their price target on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Raymond James cut their price objective on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Morgan Stanley lifted their target price on Charles Schwab from $68.00 to $74.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 24th. Finally, Citigroup cut their price target on Charles Schwab from $75.00 to $72.00 and set a "neutral" rating for the company in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $79.75.

About Representative McGarvey

Morgan McGarvey (Democratic Party) is a member of the U.S. House, representing Kentucky's 3rd Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. McGarvey (Democratic Party) is running for re-election to the U.S. House to represent Kentucky's 3rd Congressional District. He declared candidacy for the Democratic primary scheduled on May 21, 2024. McGarvey served as state Senate minority leader from 2019 to 2023. Morgan McGarvey was born in Louisville, Kentucky. McGarvey earned a bachelor's degree in journalism from the University of Missouri and a law degree from the University of Kentucky. His career experience includes working as an attorney with Morgan & Pottinger PSC. McGarvey has been affiliated with the Young Professionals Association of Louisville and the New Leaders Council.

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.