Zullo Investment Group Inc. Sells 311 Shares of The Charles Schwab Co. (NYSE:SCHW)

Zullo Investment Group Inc. trimmed its holdings in The Charles Schwab Co. (NYSE:SCHW) by 1.5% in the 4th quarter, HoldingsChannel reports. The firm owned 20,385 shares of the financial services provider’s stock after selling 311 shares during the quarter. Zullo Investment Group Inc.’s holdings in Charles Schwab were worth $1,509,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Gladstone Institutional Advisory LLC boosted its stake in Charles Schwab by 2.0% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 6,247 shares of the financial services provider’s stock valued at $462,000 after buying an additional 124 shares during the last quarter. N.E.W. Advisory Services LLC boosted its position in shares of Charles Schwab by 1.7% during the 4th 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 position in shares of Charles Schwab by 3.2% during the 4th 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. Stablepoint Partners LLC increased its position in Charles Schwab by 1.1% in the fourth quarter. Stablepoint Partners LLC now owns 12,486 shares of the financial services provider’s stock worth $924,000 after purchasing an additional 141 shares during the last quarter. Finally, Index Fund Advisors Inc. raised its stake in Charles Schwab by 1.6% during the fourth quarter. Index Fund Advisors Inc. now owns 8,847 shares of the financial services provider’s stock valued at $655,000 after purchasing an additional 143 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on SCHW shares. JMP Securities reissued a “market outperform” rating and issued a $94.00 price objective (up from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Truist Financial lifted their price target on Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Jefferies Financial Group upped their price objective on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Morgan Stanley lifted their target price on Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $89.00 to $93.00 in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and a consensus price target of $86.33.

Charles Schwab Price Performance

Charles Schwab stock opened at $82.03 on Thursday. 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 stock has a market cap of $146.11 billion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 0.99 and a beta of 0.99. The firm has a 50-day moving average of $77.98 and a two-hundred day moving average of $72.76. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50.

Charles Schwab (NYSE:SCHW) last posted its quarterly 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 firm had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 earnings per share. On average, research analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.32%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

Insider Activity at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the transaction, the chairman now directly owns 827,377 shares of the company’s stock, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jonathan S. Beatty sold 2,300 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,481,838.69. This trade represents a 11.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 502,859 shares of company stock worth $41,161,496 over the last three months. 6.60% of the stock is owned by corporate insiders.

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.