NewEdge Wealth LLC Lowers Stock Position in The Charles Schwab Co. (NYSE:SCHW)

NewEdge Wealth LLC lowered its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 74,352 shares of the financial services provider’s stock after selling 7,328 shares during the quarter. NewEdge Wealth LLC’s holdings in Charles Schwab were worth $5,503,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Charles Schwab during the 3rd quarter valued at $25,000. Washington Trust Advisors Inc. grew its position in shares of Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 149 shares during the period. Prospera Private Wealth LLC bought a new position in Charles Schwab in the 3rd quarter worth $31,000. Planning Capital Management Corp bought a new position in Charles Schwab in the 3rd quarter worth $33,000. Finally, Hazlett Burt & Watson Inc. bought a new position in Charles Schwab in the 3rd quarter worth $33,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling

In other Charles Schwab news, Director Arun Sarin sold 8,548 shares of Charles Schwab stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the transaction, the director now owns 18,617 shares of the company’s stock, valued at approximately $1,523,242.94. The trade was a 31.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of Charles Schwab stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total transaction of $1,181,690.10. The disclosure for this sale can be found here. Insiders sold a total of 487,820 shares of company stock valued at $39,938,849 over the last 90 days. Insiders own 6.60% of the company’s stock.

Charles Schwab Trading Down 0.2 %

Shares of Charles Schwab stock opened at $78.53 on Friday. 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 firm has a fifty day moving average price of $78.27 and a 200 day moving average price of $73.41. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50. The stock has a market cap of $139.87 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 0.99 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter last year, the company posted $0.68 earnings per share. The firm’s revenue was up 19.5% compared to the same quarter last year. Equities research analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is 36.12%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SCHW shares. Redburn Partners decreased their target price on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research report on Friday, January 17th. Morgan Stanley increased their price objective on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Piper Sandler raised their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Jefferies Financial Group increased their price objective on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $89.00 to $93.00 in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $86.33.

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.