Means Investment CO. Inc. Reduces Position in The Charles Schwab Co. (NYSE:SCHW)

Means Investment CO. Inc. lowered its position in The Charles Schwab Co. (NYSE:SCHW) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 107,759 shares of the financial services provider’s stock after selling 312 shares during the period. Charles Schwab makes up approximately 0.8% of Means Investment CO. Inc.’s investment portfolio, making the stock its 23rd biggest holding. Means Investment CO. Inc.’s holdings in Charles Schwab were worth $7,975,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Washington Trust Advisors Inc. grew its position in shares of Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after buying an additional 149 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Charles Schwab during the 3rd quarter valued at $25,000. Prospera Private Wealth LLC purchased a new stake in shares of Charles Schwab during the 3rd quarter valued at $31,000. Future Financial Wealth Managment LLC acquired a new position in Charles Schwab during the 3rd quarter valued at about $32,000. Finally, Hazlett Burt & Watson Inc. purchased a new stake in Charles Schwab in the third quarter valued at about $33,000. Institutional investors own 84.38% of the company’s stock.

Analyst Ratings Changes

SCHW has been the subject of several research analyst reports. Wells Fargo & Company upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $89.00 to $93.00 in a research note on Wednesday, January 22nd. Piper Sandler upped their price objective on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Citigroup boosted their target price 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. Truist Financial reiterated a “buy” rating and set a $90.00 price objective (up previously from $86.00) on shares of Charles Schwab in a research note on Wednesday, January 22nd. Finally, The Goldman Sachs Group upped their target price on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and a consensus target price of $84.11.

Charles Schwab Stock Down 1.0 %

Shares of SCHW opened at $82.73 on Monday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a market cap of $147.22 billion, a P/E ratio of 27.67, a price-to-earnings-growth ratio of 1.01 and a beta of 0.99. The company’s 50-day moving average price is $77.97 and its 200 day moving average price is $71.16. 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 posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. The firm had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 EPS. On average, sell-side analysts forecast that The Charles Schwab Co. will post 4.18 earnings per share for the current year.

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.31%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, February 14th. Charles Schwab’s payout ratio is presently 33.44%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 14,643 shares of Charles Schwab stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arun Sarin sold 8,548 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 18,617 shares in the company, valued at approximately $1,523,242.94. The trade was a 31.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,014 shares of company stock valued at $4,052,281 in the last quarter. Corporate 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.