Linscomb Wealth Inc. Raises Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Linscomb Wealth Inc. raised its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,096 shares of the financial services provider’s stock after purchasing an additional 338 shares during the quarter. Linscomb Wealth Inc.’s holdings in Charles Schwab were worth $2,469,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SCHW. Alliance Wealth Advisors LLC increased its stake in shares of Charles Schwab by 2.7% during the third quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock valued at $347,000 after buying an additional 142 shares during the period. Washington Trust Advisors Inc. increased its stake in shares of Charles Schwab by 62.6% during 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 during the period. Arcataur Capital Management LLC increased its stake in shares of Charles Schwab by 2.3% during the third quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock valued at $431,000 after buying an additional 150 shares during the period. Tandem Capital Management Corp ADV increased its stake in shares of Charles Schwab by 0.3% during the third quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider’s stock valued at $3,210,000 after buying an additional 150 shares during the period. Finally, Ascent Wealth Partners LLC increased its stake in shares of Charles Schwab by 0.7% during the second quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock valued at $1,721,000 after buying an additional 164 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman Charles R. Schwab sold 62,345 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This trade represents a 0.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan S. Beatty sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,391,674.38. The trade was a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 103,645 shares of company stock valued at $7,440,627. 6.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SCHW shares. Piper Sandler raised their price objective on Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group raised their price objective on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Morgan Stanley raised their price objective on Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Barclays raised their price objective on Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Raymond James dropped their price objective on Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and a consensus price target of $74.18.

Charles Schwab Stock Up 0.6 %

Shares of NYSE SCHW opened at $80.64 on Friday. The stock has a market cap of $143.51 billion, a PE ratio of 31.50, a price-to-earnings-growth ratio of 1.71 and a beta of 0.96. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 52-week low of $55.09 and a 52-week high of $82.50. The business has a 50-day moving average price of $68.74 and a 200 day moving average price of $69.66.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping 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 company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the firm earned $0.77 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts forecast that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.24%. Charles Schwab’s payout ratio is 39.06%.

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.