Patrick M Sweeney & Associates Inc. Buys Shares of 11,381 The Charles Schwab Co. (NYSE:SCHW)

Patrick M Sweeney & Associates Inc. purchased a new stake in The Charles Schwab Co. (NYSE:SCHW) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 11,381 shares of the financial services provider’s stock, valued at approximately $783,000.

A number of other large investors also recently made changes to their positions in SCHW. Courier Capital LLC raised its stake in Charles Schwab by 0.4% during the fourth quarter. Courier Capital LLC now owns 45,539 shares of the financial services provider’s stock worth $3,133,000 after purchasing an additional 161 shares during the period. Sugarloaf Wealth Management LLC boosted its holdings in Charles Schwab by 60.0% in the fourth 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 last quarter. Red Spruce Capital LLC grew its position in Charles Schwab by 0.4% during the fourth quarter. Red Spruce Capital LLC now owns 41,855 shares of the financial services provider’s stock valued at $2,880,000 after acquiring an additional 172 shares during the period. Uncommon Cents Investing LLC increased its stake in Charles Schwab by 1.2% during the fourth quarter. Uncommon Cents Investing LLC now owns 14,872 shares of the financial services provider’s stock worth $1,023,000 after acquiring an additional 175 shares during the last quarter. Finally, Diligent Investors LLC raised its holdings in shares of Charles Schwab by 3.0% in the 4th quarter. Diligent Investors LLC now owns 5,959 shares of the financial services provider’s stock worth $410,000 after purchasing an additional 176 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In related news, insider Jonathan M. Craig sold 4,977 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $70.01, for a total transaction of $348,439.77. Following the transaction, the insider now owns 81,446 shares in the company, valued at $5,702,034.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jonathan M. Craig sold 4,977 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $70.01, for a total transaction of $348,439.77. Following the completion of the transaction, the insider now owns 81,446 shares of the company’s stock, valued at $5,702,034.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Charles R. Schwab sold 89,275 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $74.62, for a total transaction of $6,661,700.50. Following the completion of the sale, the chairman now owns 30,641,981 shares in the company, valued at $2,286,504,622.22. The disclosure for this sale can be found here. Insiders have sold a total of 514,459 shares of company stock worth $36,371,155 over the last ninety days. 6.60% of the stock is currently owned by corporate insiders.

Charles Schwab Stock Performance

SCHW traded up $0.86 on Wednesday, hitting $76.40. 5,143,352 shares of the company’s stock were exchanged, compared to its average volume of 7,574,551. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82. The stock has a fifty day moving average of $71.20 and a two-hundred day moving average of $65.15. The Charles Schwab Co. has a twelve month low of $46.55 and a twelve month high of $77.05. The firm has a market cap of $135.69 billion, a PE ratio of 31.69, a P/E/G ratio of 1.11 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.71 billion. Charles Schwab had a net margin of 26.14% and a return on equity of 19.86%. On average, research analysts anticipate that The Charles Schwab Co. will post 3.42 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Thursday, May 9th. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SCHW. JPMorgan Chase & Co. raised their target price on shares of Charles Schwab from $86.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft upped their price target on Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Barclays boosted their target price on shares of Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Piper Sandler upped their price objective on shares of Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Finally, Bank of America lifted their price objective on Charles Schwab from $68.00 to $70.00 and gave the stock an “underperform” rating in a report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Charles Schwab has a consensus rating of “Hold” and a consensus 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.