Wedmont Private Capital Boosts Holdings in The Charles Schwab Co. (NYSE:SCHW)

Wedmont Private Capital increased its stake in The Charles Schwab Co. (NYSE:SCHW) by 13.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,568 shares of the financial services provider’s stock after buying an additional 1,751 shares during the period. Wedmont Private Capital’s holdings in Charles Schwab were worth $1,060,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SCHW. Franklin Resources Inc. lifted its position in 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 valued at $1,644,674,000 after acquiring an additional 3,157,923 shares during the period. Darsana Capital Partners LP lifted its holdings in shares of 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 boosted its position 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 purchasing an additional 1,711,312 shares in the last quarter. AustralianSuper Pty Ltd grew its stake in shares of Charles Schwab by 2,617.6% in the 3rd quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock worth $110,681,000 after buying an additional 1,644,931 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new position in Charles Schwab during the 3rd quarter valued at approximately $86,845,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Trading Down 0.2 %

Shares of NYSE:SCHW opened at $72.64 on Tuesday. The Charles Schwab Co. has a 52-week low of $59.67 and a 52-week high of $83.35. The stock has a market capitalization of $129.27 billion, a price-to-earnings ratio of 28.38, a PEG ratio of 1.76 and a beta of 0.99. 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’s 50-day simple moving average is $77.60 and its two-hundred day simple moving average is $70.59.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the business posted $0.77 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. Analysts expect that The Charles Schwab Co. will post 3.12 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Friday, November 8th. Charles Schwab’s payout ratio is 39.06%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Wells Fargo & Company boosted their target price on Charles Schwab from $75.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Keefe, Bruyette & Woods raised their price objective on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Piper Sandler upped their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Citigroup reduced their price target on shares of Charles Schwab from $85.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Cowen upped their price objective on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $81.69.

Insider Transactions at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total value of $2,150,368.00. Following the completion of the sale, the director now directly owns 551,329 shares of the company’s stock, valued at $39,783,900.64. This represents a 5.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Charles R. Schwab sold 62,345 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now owns 60,619,371 shares in the company, valued at $4,396,116,784.92. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 118,968 shares of company stock worth $8,842,821 in the last three months. Corporate insiders own 6.60% of the company’s stock.

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.