The Charles Schwab Co. (NYSE:SCHW) Shares Acquired by AlphaQuest LLC

AlphaQuest LLC lifted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 81.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,531 shares of the financial services provider's stock after purchasing an additional 3,370 shares during the quarter. AlphaQuest LLC's holdings in Charles Schwab were worth $557,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Gladstone Institutional Advisory LLC boosted its holdings in Charles Schwab by 2.0% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 6,247 shares of the financial services provider's stock valued at $462,000 after acquiring an additional 124 shares during the last quarter. N.E.W. Advisory Services LLC boosted its holdings in Charles Schwab by 1.7% in the fourth quarter. N.E.W. Advisory Services LLC now owns 7,522 shares of the financial services provider's stock valued at $557,000 after acquiring an additional 125 shares during the last quarter. Klingman & Associates LLC boosted its holdings in Charles Schwab by 3.2% in the fourth quarter. Klingman & Associates LLC now owns 4,083 shares of the financial services provider's stock valued at $302,000 after acquiring an additional 125 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in Charles Schwab by 2.7% in the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 4,763 shares of the financial services provider's stock valued at $353,000 after acquiring an additional 127 shares during the last quarter. Finally, Personal CFO Solutions LLC boosted its holdings in Charles Schwab by 1.2% in the fourth quarter. Personal CFO Solutions LLC now owns 11,236 shares of the financial services provider's stock valued at $832,000 after acquiring an additional 130 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SCHW. Jefferies Financial Group lifted their target price on Charles Schwab from $84.00 to $94.00 and gave the company a "buy" rating in a report on Monday, December 9th. Piper Sandler boosted their price objective on Charles Schwab from $65.00 to $70.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price objective on Charles Schwab from $81.00 to $93.00 and gave the stock an "outperform" rating in a research note on Friday, December 20th. Redburn Partners reduced their price objective on Charles Schwab from $70.00 to $68.00 and set a "sell" rating on the stock in a research note on Friday, January 17th. Finally, Morgan Stanley boosted their price objective on Charles Schwab from $84.00 to $91.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $86.33.

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Insider Activity at Charles Schwab

In other 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 transaction of $38,057,761.39. Following the completion of the transaction, the chairman now directly owns 827,377 shares of the company's stock, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 3,380 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $79.32, for a total value of $268,101.60. Following the transaction, the insider now directly owns 57,818 shares of the company's stock, valued at $4,586,123.76. This trade represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 501,087 shares of company stock valued at $40,952,233 over the last three months. 6.60% of the stock is owned by insiders.

Charles Schwab Stock Up 2.5 %

Shares of Charles Schwab stock opened at $74.29 on Thursday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a market cap of $134.72 billion, a P/E ratio of 24.84, a P/E/G ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50. The business has a 50-day moving average price of $78.42 and a 200 day moving average price of $74.16.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $5.33 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share. On average, sell-side analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.27 dividend. This is a positive change from Charles Schwab's previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.45%. The ex-dividend date was Friday, February 14th. Charles Schwab's payout ratio is currently 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.

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