Costello Asset Management INC Has $32,000 Position in The Charles Schwab Co. (NYSE:SCHW)

Costello Asset Management INC lessened its position in The Charles Schwab Co. (NYSE:SCHW) by 28.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 435 shares of the financial services provider’s stock after selling 175 shares during the period. Costello Asset Management INC’s holdings in Charles Schwab were worth $32,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Centaurus Financial Inc. increased its holdings in shares of Charles Schwab by 38.8% during the second quarter. Centaurus Financial Inc. now owns 24,103 shares of the financial services provider’s stock worth $1,776,000 after buying an additional 6,739 shares in the last quarter. Neville Rodie & Shaw Inc. acquired a new position in Charles Schwab in the third quarter worth $353,000. Trust Co. of Toledo NA OH grew its holdings in shares of Charles Schwab by 41.8% during the third quarter. Trust Co. of Toledo NA OH now owns 6,172 shares of the financial services provider’s stock worth $400,000 after purchasing an additional 1,820 shares during the last quarter. Czech National Bank increased its stake in shares of Charles Schwab by 7.0% in the third quarter. Czech National Bank now owns 304,322 shares of the financial services provider’s stock valued at $19,723,000 after buying an additional 19,833 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. raised its holdings in shares of Charles Schwab by 0.9% in the third quarter. Canandaigua National Bank & Trust Co. now owns 31,084 shares of the financial services provider’s stock valued at $2,015,000 after buying an additional 290 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

SCHW opened at $82.73 on Friday. The company has a fifty day simple moving average of $77.97 and a 200 day simple moving average of $71.14. 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 has a market cap of $147.22 billion, a P/E ratio of 27.67, a P/E/G ratio of 1.00 and a beta of 0.99. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $83.84.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the firm posted $0.68 earnings per share. Charles Schwab’s revenue was up 19.5% compared to the same quarter last year. On average, research analysts expect that The Charles Schwab Co. will post 4.18 EPS for the current year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.27 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.31%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is presently 33.44%.

Insider Activity

In other news, insider Jonathan S. Beatty sold 2,300 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,481,838.69. This trade represents a 11.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arun Sarin sold 8,548 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the sale, the director now directly owns 18,617 shares in the company, valued at approximately $1,523,242.94. This represents a 31.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,014 shares of company stock worth $4,052,281 over the last quarter. 6.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SCHW. Citigroup raised their price objective on shares of Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $89.00 to $93.00 in a report on Wednesday, January 22nd. Piper Sandler upped their price objective on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Raymond James lowered their target price on Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Finally, Truist Financial reaffirmed a “buy” rating and set a $90.00 price target (up previously from $86.00) on shares of Charles Schwab in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $84.11.

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.