Peter J. Morgan III Sells 24,520 Shares of The Charles Schwab Co. (NYSE:SCHW) Stock

The Charles Schwab Co. (NYSE:SCHW) General Counsel Peter J. Morgan III sold 24,520 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $72.23, for a total transaction of $1,771,079.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $73.42 on Friday. The firm’s 50-day moving average price is $68.58 and its 200-day moving average price is $63.11. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82. The company has a market cap of $130.40 billion, a PE ratio of 30.72, a PEG ratio of 1.07 and a beta of 1.01. The Charles Schwab Co. has a 52-week low of $45.65 and a 52-week high of $73.88.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.49 billion. Charles Schwab had a net margin of 26.14% and a return on equity of 19.86%. The business’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.07 EPS. As a group, analysts anticipate that The Charles Schwab Co. will post 3.42 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Thursday, February 8th. Charles Schwab’s payout ratio is 41.84%.

Hedge Funds Weigh In On Charles Schwab

A number of institutional investors and hedge funds have recently made changes to their positions in SCHW. Dodge & Cox lifted its holdings in Charles Schwab by 10.5% during the fourth quarter. Dodge & Cox now owns 86,421,986 shares of the financial services provider’s stock valued at $5,945,833,000 after purchasing an additional 8,182,467 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Charles Schwab by 33.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock valued at $4,771,985,000 after buying an additional 17,369,091 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Charles Schwab by 4.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock valued at $2,132,454,000 after buying an additional 1,219,015 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Charles Schwab by 1.5% during the first quarter. Geode Capital Management LLC now owns 27,050,168 shares of the financial services provider’s stock valued at $1,413,244,000 after buying an additional 391,238 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of Charles Schwab by 62.5% during the fourth quarter. Morgan Stanley now owns 22,255,649 shares of the financial services provider’s stock valued at $1,853,005,000 after buying an additional 8,563,389 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on SCHW. Bank of America boosted their price target on shares of Charles Schwab from $68.00 to $70.00 and gave the stock an “underperform” rating in a report on Tuesday, April 16th. Barclays boosted their target price on shares of Charles Schwab from $74.00 to $75.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. Piper Sandler boosted their target price on shares of Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. The Goldman Sachs Group reissued a “neutral” rating and issued a $71.00 price target (up previously from $70.00) on shares of Charles Schwab in a research report on Wednesday, January 3rd. Finally, StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and a consensus target price of $74.47.

About Charles Schwab

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.