Oppenheimer Asset Management Inc. Purchases 6,256 Shares of The Charles Schwab Co. (NYSE:SCHW)

Oppenheimer Asset Management Inc. lifted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 4.9% in the fourth quarter, HoldingsChannel reports. The firm owned 134,253 shares of the financial services provider’s stock after purchasing an additional 6,256 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Charles Schwab were worth $9,936,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Gladstone Institutional Advisory LLC boosted its holdings in shares of Charles Schwab by 2.0% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 6,247 shares of the financial services provider’s stock worth $462,000 after purchasing an additional 124 shares during the period. N.E.W. Advisory Services LLC lifted its position 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 worth $557,000 after buying an additional 125 shares during the last quarter. Klingman & Associates LLC boosted its stake in Charles Schwab by 3.2% during the fourth quarter. Klingman & Associates LLC now owns 4,083 shares of the financial services provider’s stock worth $302,000 after buying an additional 125 shares during the period. Investors Asset Management of Georgia Inc. GA ADV increased its position in Charles Schwab by 2.7% during 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, Stablepoint Partners LLC raised its stake in shares of Charles Schwab by 1.1% in the fourth quarter. Stablepoint Partners LLC now owns 12,486 shares of the financial services provider’s stock valued at $924,000 after acquiring an additional 141 shares during the period. Institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SCHW shares. Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $89.00 to $93.00 in a report on Wednesday, January 22nd. Redburn Partners reduced their price target on Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a report on Friday, January 17th. Barclays boosted their price objective on Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Truist Financial increased their target price on Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, Citigroup boosted their target price on shares of Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $86.33.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $78.53 on Friday. The firm has a market cap of $139.87 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 0.99 and a beta of 0.99. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50. 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 company’s 50 day moving average is $78.27 and its 200 day moving average is $73.41.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $5.33 billion for 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 revenue was up 19.5% compared to the same quarter last year. During the same period last year, the business posted $0.68 EPS. On average, sell-side analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.38%. Charles Schwab’s payout ratio is currently 36.12%.

Insider Buying and Selling at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 14,643 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction dated Wednesday, February 12th. The shares were 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 of the company’s stock, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 487,820 shares of company stock valued at $39,938,849. 6.60% of the stock is currently owned by insiders.

Charles Schwab Company 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.