Oak Thistle LLC lowered its holdings in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 54.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,015 shares of the financial services provider's stock after selling 11,849 shares during the quarter. Oak Thistle LLC's holdings in Charles Schwab were worth $741,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its holdings in shares of Charles Schwab by 15.0% during the 3rd 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 in the last quarter. Darsana Capital Partners LP lifted its position in Charles Schwab by 200.0% during the second quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider's stock valued at $221,070,000 after purchasing an additional 2,000,000 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Charles Schwab by 6.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider's stock worth $1,858,706,000 after buying an additional 1,711,312 shares during the last quarter. AustralianSuper Pty Ltd raised its position in shares of Charles Schwab by 2,617.6% during the 3rd quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider's stock valued at $110,681,000 after buying an additional 1,644,931 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new position in shares of Charles Schwab in the 3rd quarter valued at about $86,845,000. Institutional investors own 84.38% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on SCHW shares. Deutsche Bank Aktiengesellschaft upped their price objective on Charles Schwab from $77.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Bank of America decreased their price target on Charles Schwab from $63.00 to $61.00 and set an "underperform" rating on the stock in a report on Wednesday, October 16th. The Goldman Sachs Group lifted their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 16th. Piper Sandler increased their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. Finally, Barclays upgraded shares of Charles Schwab from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $74.00 to $95.00 in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.63.
Read Our Latest Analysis on SCHW
Insider Buying and Selling at Charles Schwab
In other news, Director Christopher V. Dodds sold 9,284 shares of the business's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $81.43, for a total value of $755,996.12. Following the completion of the transaction, the director now directly owns 442,807 shares of the company's stock, valued at approximately $36,057,774.01. The trade was a 2.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathan S. Beatty sold 2,300 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the sale, the insider now directly owns 18,069 shares in the company, valued at approximately $1,481,838.69. The trade was a 11.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,823 shares of company stock valued at $2,171,194. Company insiders own 6.60% of the company's stock.
Charles Schwab Trading Up 2.4 %
NYSE:SCHW traded up $1.74 during midday trading on Thursday, hitting $75.40. The stock had a trading volume of 7,708,587 shares, compared to its average volume of 7,728,355. The stock has a 50-day moving average of $77.58 and a 200 day moving average of $70.60. The company has a market capitalization of $134.19 billion, a price-to-earnings ratio of 29.45, a PEG ratio of 1.19 and a beta of 0.99. The Charles Schwab Co. has a one year low of $59.67 and a one year high of $83.35. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.
Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion during the quarter, compared to analysts' expectations of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.77 EPS. As a group, sell-side analysts forecast that The Charles Schwab Co. will post 3.13 EPS for the current year.
Charles Schwab Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.33%. The ex-dividend date was Friday, November 8th. Charles Schwab's payout ratio is 39.06%.
Charles Schwab Company Profile
(
Free Report)
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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