Power Wealth Management LLC Purchases Shares of 8,959 The Charles Schwab Co. (NYSE:SCHW)

Power Wealth Management LLC acquired a new position in shares of The Charles Schwab Co. (NYSE:SCHW) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,959 shares of the financial services provider’s stock, valued at approximately $616,000.

Other institutional investors have also recently made changes to their positions in the company. Providence Capital Advisors LLC purchased a new position in Charles Schwab during the third quarter worth approximately $28,000. Sugarloaf Wealth Management LLC grew its stake in Charles Schwab by 60.0% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 165 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in Charles Schwab in the 4th quarter worth $31,000. BluePath Capital Management LLC acquired a new position in Charles Schwab during the third quarter worth $34,000. Finally, Hall Laurie J Trustee purchased a new position in Charles Schwab during the fourth quarter valued at $34,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Performance

Charles Schwab stock traded up $0.71 during midday trading on Friday, hitting $76.04. 5,414,735 shares of the company’s stock were exchanged, compared to its average volume of 7,577,556. The firm’s 50 day simple moving average is $70.75 and its 200 day simple moving average is $64.63. The Charles Schwab Co. has a 12-month low of $45.65 and a 12-month high of $76.47. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market cap of $135.05 billion, a price-to-earnings ratio of 31.82, a price-to-earnings-growth ratio of 1.11 and a beta of 0.98.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.32%. Charles Schwab’s payout ratio is currently 41.84%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Charles Schwab from $86.00 to $89.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. JMP Securities reissued a “market outperform” rating and set a $80.00 target price on shares of Charles Schwab in a research note on Tuesday, April 16th. Piper Sandler boosted their price target 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. Morgan Stanley increased their price objective on shares of Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Raymond James cut their target price on Charles Schwab from $78.00 to $75.00 and set an “outperform” rating on the stock in a research report on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $74.47.

Insider Buying and Selling

In other news, Chairman Charles R. Schwab sold 59,906 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $74.78, for a total value of $4,479,770.68. Following the completion of the sale, the chairman now directly owns 61,038,701 shares of the company’s stock, valued at approximately $4,564,474,060.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Charles Schwab news, CFO Peter B. Crawford sold 8,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $64.76, for a total value of $518,080.00. Following the completion of the transaction, the chief financial officer now directly owns 29,611 shares of the company’s stock, valued at $1,917,608.36. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Charles R. Schwab sold 59,906 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $74.78, for a total value of $4,479,770.68. Following the sale, the chairman now directly owns 61,038,701 shares in the company, valued at approximately $4,564,474,060.78. The disclosure for this sale can be found here. Insiders sold 514,459 shares of company stock valued at $36,371,155 over the last ninety days. Corporate insiders own 6.60% of the company’s stock.

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.