Empirical Financial Services LLC d.b.a. Empirical Wealth Management Grows Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in The Charles Schwab Co. (NYSE:SCHW) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 97,631 shares of the financial services provider’s stock after purchasing an additional 2,841 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Charles Schwab were worth $6,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in SCHW. Apollon Wealth Management LLC increased its stake in shares of Charles Schwab by 15.3% in the 4th quarter. Apollon Wealth Management LLC now owns 43,424 shares of the financial services provider’s stock worth $2,988,000 after acquiring an additional 5,764 shares during the last quarter. Fielder Capital Group LLC acquired a new stake in Charles Schwab during the fourth quarter worth about $215,000. Maryland State Retirement & Pension System raised its stake in Charles Schwab by 1.1% during the fourth quarter. Maryland State Retirement & Pension System now owns 115,386 shares of the financial services provider’s stock worth $7,939,000 after purchasing an additional 1,228 shares during the period. Spire Wealth Management boosted its holdings in Charles Schwab by 11.5% in the 4th quarter. Spire Wealth Management now owns 19,601 shares of the financial services provider’s stock valued at $1,250,000 after purchasing an additional 2,016 shares during the last quarter. Finally, W.H. Cornerstone Investments Inc. purchased a new stake in shares of Charles Schwab in the 4th quarter valued at approximately $287,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Up 1.1 %

Shares of NYSE:SCHW traded up $0.82 during trading on Monday, hitting $76.86. The company’s stock had a trading volume of 4,855,876 shares, compared to its average volume of 7,605,208. The business has a 50 day moving average price of $71.00 and a two-hundred day moving average price of $64.98. The company has a market capitalization of $136.51 billion, a PE ratio of 32.16, a P/E/G ratio of 1.11 and a beta of 0.98. 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 Charles Schwab Co. has a fifty-two week low of $46.55 and a fifty-two week high of $76.93.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.30%. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

Insiders Place Their Bets

In related news, Chairman Charles R. Schwab sold 59,906 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $74.78, for a total transaction of $4,479,770.68. Following the completion of the transaction, the chairman now owns 61,038,701 shares in the company, valued at $4,564,474,060.78. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Chairman Charles R. Schwab sold 59,906 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $74.78, for a total transaction of $4,479,770.68. Following the completion of the transaction, the chairman now owns 61,038,701 shares in the company, valued at $4,564,474,060.78. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Charles R. Schwab sold 71,226 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $64.99, for a total transaction of $4,628,977.74. Following the transaction, the chairman now owns 61,251,038 shares of the company’s stock, valued at approximately $3,980,704,959.62. The disclosure for this sale can be found here. Insiders sold a total of 514,459 shares of company stock worth $36,371,155 over the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on SCHW. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. TD Cowen raised their price objective on Charles Schwab from $87.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Charles Schwab from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Bank of America boosted their price target on shares of Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a research note on Tuesday, April 16th. Finally, Piper Sandler increased their price objective on shares of Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $74.47.

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.