Private Advisor Group LLC Sells 4,996 Shares of The Charles Schwab Co. (NYSE:SCHW)

Private Advisor Group LLC lessened its holdings in The Charles Schwab Co. (NYSE:SCHW) by 4.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 99,483 shares of the financial services provider’s stock after selling 4,996 shares during the quarter. Private Advisor Group LLC’s holdings in Charles Schwab were worth $6,845,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SCHW. Sugarloaf Wealth Management LLC lifted its holdings in shares of Charles Schwab by 60.0% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 165 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new position in shares of Charles Schwab during the fourth quarter valued at approximately $31,000. Hall Laurie J Trustee bought a new stake in shares of Charles Schwab during the 4th quarter valued at about $34,000. Providence Capital Advisors LLC purchased a new position in shares of Charles Schwab in the third quarter worth approximately $28,000. Finally, Glass Jacobson Investment Advisors llc raised its stake in shares of Charles Schwab by 81.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 599 shares of the financial services provider’s stock worth $41,000 after buying an additional 268 shares during the period. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on SCHW. Piper Sandler increased their price objective on shares of Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, April 12th. TD Cowen upped their price objective on shares of Charles Schwab from $87.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Raymond James cut their price objective on shares of Charles Schwab from $78.00 to $75.00 and set an “outperform” rating on the stock in a research report on Thursday, January 18th. JPMorgan Chase & Co. boosted their target price on shares of Charles Schwab from $86.00 to $89.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Finally, Citigroup upped their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $74.47.

Insider Buying and Selling

In other news, Chairman Charles R. Schwab sold 89,275 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $74.62, for a total value of $6,661,700.50. Following the completion of the transaction, the chairman now directly owns 30,641,981 shares in the company, valued at $2,286,504,622.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Charles R. Schwab sold 89,275 shares of Charles Schwab stock in a transaction 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 of the company’s stock, valued at $2,286,504,622.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Peter B. Crawford sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $64.76, for a total value of $518,080.00. Following the sale, the chief financial officer now directly owns 29,611 shares of the company’s stock, valued at approximately $1,917,608.36. 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 quarter. 6.60% of the stock is owned by company insiders.

Charles Schwab Stock Performance

Shares of Charles Schwab stock traded up $0.08 on Wednesday, hitting $75.62. The stock had a trading volume of 257,107 shares, compared to its average volume of 7,519,292. 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 Charles Schwab Co. has a 52-week low of $46.55 and a 52-week high of $77.05. The stock has a market cap of $134.31 billion, a price-to-earnings ratio of 31.61, a P/E/G ratio of 1.11 and a beta of 0.98. The company’s 50 day moving average price is $71.20 and its 200 day moving average price is $65.15.

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

Charles Schwab Announces Dividend

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

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.