The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Quadcap Wealth Management LLC

Quadcap Wealth Management LLC cut its stake in The Charles Schwab Co. (NYSE:SCHW) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,485 shares of the financial services provider’s stock after selling 137 shares during the period. Quadcap Wealth Management LLC’s holdings in Charles Schwab were worth $628,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Charles Schwab in the 4th quarter valued at $1,289,544,000. Kovitz Investment Group Partners LLC boosted its holdings in shares of Charles Schwab by 354.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider’s stock valued at $814,545,000 after acquiring an additional 8,584,173 shares during the last quarter. FMR LLC boosted its holdings in shares of Charles Schwab by 69.4% in the 4th quarter. FMR LLC now owns 9,700,013 shares of the financial services provider’s stock valued at $717,898,000 after acquiring an additional 3,974,940 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Charles Schwab by 742.0% in the 4th quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider’s stock valued at $309,451,000 after acquiring an additional 3,684,640 shares during the last quarter. Finally, Primecap Management Co. CA boosted its holdings in shares of Charles Schwab by 310.3% in the 4th quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider’s stock valued at $314,716,000 after acquiring an additional 3,216,000 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $88.06 on Friday. The firm has a 50-day simple moving average of $78.44 and a 200-day simple moving average of $78.25. The stock has a market capitalization of $159.70 billion, a price-to-earnings ratio of 29.45, a price-to-earnings-growth ratio of 0.99 and a beta of 0.90. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $88.37.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The business had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same period in the prior year, the business earned $0.74 earnings per share. On average, equities analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Friday, May 9th. Charles Schwab’s payout ratio is currently 32.73%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SCHW. Piper Sandler upped their price objective on shares of Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. Morgan Stanley upped their price objective on shares of Charles Schwab from $76.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday. JMP Securities reissued a “market outperform” rating and set a $94.00 price target on shares of Charles Schwab in a report on Monday, April 21st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company lowered their price target on shares of Charles Schwab from $93.00 to $87.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.33.

Insider Buying and Selling

In related news, insider Paul V. Woolway sold 9,887 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $75.38, for a total transaction of $745,282.06. Following the completion of the sale, the insider now directly owns 47,931 shares in the company, valued at approximately $3,613,038.78. This trade represents a 17.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank C. Herringer sold 3,592 shares of the firm’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $74.26, for a total transaction of $266,741.92. Following the sale, the director now owns 172,162 shares of the company’s stock, valued at approximately $12,784,750.12. The trade was a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,412 shares of company stock worth $3,014,797. Insiders own 6.30% 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.