Meriwether Wealth & Planning LLC Purchases New Shares in The Charles Schwab Co. (NYSE:SCHW)

Meriwether Wealth & Planning LLC bought a new stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 15,856 shares of the financial services provider's stock, valued at approximately $1,174,000. Charles Schwab makes up 0.8% of Meriwether Wealth & Planning LLC's portfolio, making the stock its 24th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in SCHW. Washington Trust Advisors Inc. grew its stake in shares of Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider's stock valued at $25,000 after buying an additional 149 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Charles Schwab during the 3rd quarter valued at approximately $25,000. Prospera Private Wealth LLC acquired a new position in Charles Schwab during the 3rd quarter worth approximately $31,000. Planning Capital Management Corp acquired a new stake in shares of Charles Schwab in the 3rd quarter worth approximately $33,000. Finally, Peterson Financial Group Inc. purchased a new stake in Charles Schwab in the 3rd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 84.38% of the company's stock.

Insider Activity at Charles Schwab

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the company's stock in a transaction that occurred 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 transaction, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. This represents a 35.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total value of $1,181,690.10. 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 company insiders.

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Analysts Set New Price Targets

SCHW has been the topic of several research reports. Citigroup raised their price objective on Charles Schwab from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. Truist Financial boosted their price objective on Charles Schwab from $90.00 to $91.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Barclays upped their price target on Charles Schwab from $95.00 to $96.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. JMP Securities reissued a "market outperform" rating and set a $94.00 target price (up from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Charles Schwab from $81.00 to $93.00 and gave the company an "outperform" rating in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Charles Schwab currently has a consensus rating of "Hold" and a consensus target price of $86.33.

Charles Schwab Stock Up 2.5 %

Shares of SCHW traded up $1.82 during trading hours on Wednesday, hitting $74.29. The company had a trading volume of 11,310,499 shares, compared to its average volume of 12,262,797. The firm has a fifty day moving average price of $78.42 and a 200-day moving average price of $74.16. 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 stock has a market capitalization of $134.72 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results 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. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the firm earned $0.68 EPS. Charles Schwab's revenue was up 19.5% on a year-over-year basis. On average, equities research analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.27 per share. 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 dividend yield of 1.45%. Charles Schwab's payout ratio is 36.12%.

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.