Main Street Research LLC Decreases Holdings in The Charles Schwab Co. (NYSE:SCHW)

Main Street Research LLC reduced its stake in The Charles Schwab Co. (NYSE:SCHW) by 1.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 36,240 shares of the financial services provider’s stock after selling 384 shares during the quarter. Main Street Research LLC’s holdings in Charles Schwab were worth $2,682,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Washington Trust Advisors Inc. raised its stake in shares of Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after buying an additional 149 shares during the period. Capital Performance Advisors LLP purchased a new stake in Charles Schwab in the 3rd quarter worth about $25,000. Prospera Private Wealth LLC bought a new stake in Charles Schwab in the 3rd quarter valued at about $31,000. Planning Capital Management Corp purchased a new stake in Charles Schwab during the third quarter valued at about $33,000. Finally, Peterson Financial Group Inc. bought a new position in Charles Schwab during the third quarter worth about $35,000. Institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on SCHW. Keefe, Bruyette & Woods boosted their price target on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Barclays increased their target price on Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Morgan Stanley raised their price target on Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Truist Financial boosted their price objective on Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and raised their target price for the stock from $88.00 to $103.00 in a research note on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $86.33.

Charles Schwab Trading Down 1.3 %

NYSE SCHW opened at $74.58 on Monday. 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 stock’s 50-day simple moving average is $78.50 and its two-hundred day simple moving average is $74.05. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.50. The company has a market capitalization of $135.25 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The company had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. Charles Schwab’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the firm posted $0.68 EPS. Research analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.27 dividend. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.45%. Charles Schwab’s dividend payout ratio is 36.12%.

Insider Activity at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the transaction, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total value of $1,181,690.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 501,087 shares of company stock valued at $40,952,233. Insiders own 6.60% of the company’s stock.

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.