abrdn plc Lowers Holdings in The Charles Schwab Co. (NYSE:SCHW)

abrdn plc lessened its holdings in The Charles Schwab Co. (NYSE:SCHWFree Report) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,178,051 shares of the financial services provider’s stock after selling 81,367 shares during the period. abrdn plc’s holdings in Charles Schwab were worth $87,017,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Capital Performance Advisors LLP acquired a new position in Charles Schwab in the third quarter valued at about $25,000. Washington Trust Advisors Inc. lifted its holdings in shares of Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 149 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Charles Schwab during the 3rd quarter worth approximately $31,000. Future Financial Wealth Managment LLC acquired a new stake in Charles Schwab in the 3rd quarter valued at approximately $32,000. Finally, Planning Capital Management Corp purchased a new stake in Charles Schwab in the third quarter valued at approximately $33,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the sale, the insider now owns 18,069 shares in the company, valued at $1,391,674.38. This represents a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total value of $1,181,690.10. The disclosure for this sale can be found here. Insiders sold a total of 50,014 shares of company stock worth $4,052,281 in the last 90 days. 6.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SCHW has been the subject of several research analyst reports. Redburn Partners lowered their price target on Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research report on Friday, January 17th. JMP Securities reiterated a “market outperform” rating and set a $94.00 price target (up from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Raymond James lowered their price objective on shares of Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $89.00 to $93.00 in a research note on Wednesday, January 22nd. Finally, Truist Financial reissued a “buy” rating and issued a $90.00 price target (up previously from $86.00) on shares of Charles Schwab in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $84.11.

View Our Latest Research Report on Charles Schwab

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $81.90 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $83.84. The firm has a market capitalization of $145.75 billion, a P/E ratio of 27.39, a P/E/G ratio of 1.01 and a beta of 0.99. The company’s fifty day moving average price is $77.99 and its 200 day moving average price is $71.36.

Charles Schwab (NYSE:SCHWGet Free Report) last posted 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 business had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 EPS. As a group, sell-side analysts predict that The Charles Schwab Co. will post 4.18 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.32%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, February 14th. Charles Schwab’s payout ratio is presently 33.44%.

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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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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