Parallel Advisors LLC Trims Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Parallel Advisors LLC lessened its holdings in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 9.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,993 shares of the financial services provider's stock after selling 3,805 shares during the quarter. Parallel Advisors LLC's holdings in Charles Schwab were worth $2,664,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new stake in Charles Schwab in the third quarter valued at $31,000. Atala Financial Inc bought a new position in shares of Charles Schwab during the fourth quarter worth approximately $41,000. Knuff & Co LLC lifted its holdings in shares of Charles Schwab by 1,309.3% during the fourth quarter. Knuff & Co LLC now owns 606 shares of the financial services provider's stock worth $45,000 after buying an additional 563 shares in the last quarter. Financial Life Planners bought a new stake in Charles Schwab in the 4th quarter valued at about $46,000. Finally, Whipplewood Advisors LLC acquired a new position in Charles Schwab in the 4th quarter valued at $46,000. Institutional investors and hedge funds 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 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 sale, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Arun Sarin sold 8,548 shares of the company's stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the transaction, the director now owns 18,617 shares of the company's stock, valued at approximately $1,523,242.94. This represents a 31.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 501,087 shares of company stock worth $40,952,233 in the last three months. 6.60% of the stock is owned by insiders.

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Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of recent analyst reports. Wells Fargo & Company upgraded Charles Schwab from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Piper Sandler upped their price objective on Charles Schwab from $65.00 to $70.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. Morgan Stanley upped their price target on Charles Schwab from $84.00 to $91.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Jefferies Financial Group lifted their target price on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Charles Schwab from $98.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Charles Schwab has a consensus rating of "Hold" and a consensus price target of $86.33.

Charles Schwab Price Performance

NYSE SCHW traded down $0.11 on Friday, reaching $78.47. 11,842,111 shares of the company's stock traded hands, compared to its average volume of 11,847,410. The stock has a market cap of $142.30 billion, a PE ratio of 26.24, a P/E/G ratio of 0.99 and a beta of 0.98. The stock has a 50-day simple moving average of $78.88 and a 200 day simple moving average of $74.63. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

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, beating the consensus estimate of $0.90 by $0.11. The company had revenue of $5.33 billion during the quarter, compared to analysts' expectations of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. Charles Schwab's quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 EPS. As a group, research analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.38%. This is an increase from Charles Schwab's previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. Charles Schwab's payout ratio is presently 36.12%.

About Charles Schwab

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.