Finer Wealth Management Inc. Has $2.15 Million Position in The Charles Schwab Co. (NYSE:SCHW)

Finer Wealth Management Inc. raised its position in The Charles Schwab Co. (NYSE:SCHW) by 6.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,056 shares of the financial services provider’s stock after buying an additional 1,883 shares during the quarter. Charles Schwab accounts for 1.2% of Finer Wealth Management Inc.’s holdings, making the stock its 25th biggest holding. Finer Wealth Management Inc.’s holdings in Charles Schwab were worth $2,150,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp bought a new position in Charles Schwab in the fourth quarter valued at approximately $38,000. Atala Financial Inc bought a new stake in Charles Schwab during the fourth quarter worth $41,000. Knuff & Co LLC boosted its holdings in shares of Charles Schwab by 1,309.3% in the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 563 shares in the last quarter. Financial Life Planners bought a new position in shares of Charles Schwab in the 4th quarter valued at $46,000. Finally, Whipplewood Advisors LLC acquired a new position in shares of Charles Schwab during the 4th quarter worth $46,000. Institutional investors own 84.38% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Citigroup upgraded shares of Charles Schwab from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Barclays cut their target price on shares of Charles Schwab from $96.00 to $84.00 and set an “overweight” rating on the stock in a research report on Monday, April 7th. Deutsche Bank Aktiengesellschaft upped 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. Wells Fargo & Company cut their price objective on Charles Schwab from $93.00 to $87.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, Morgan Stanley raised Charles Schwab from an “equal weight” rating to an “overweight” rating and set a $76.00 target price for the company in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab presently has an average rating of “Moderate Buy” and an average target price of $85.33.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $77.15 on Wednesday. The business has a 50-day moving average price of $77.54 and a two-hundred day moving average price of $76.32. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50. 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 company has a market cap of $139.92 billion, a P/E ratio of 25.80, a PEG ratio of 0.99 and a beta of 0.91.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $5.33 billion during 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 firm’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 earnings per share. As a group, analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.40%. Charles Schwab’s dividend payout ratio is currently 36.12%.

Insiders Place Their Bets

In other Charles Schwab news, Director Arun Sarin sold 8,548 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the transaction, the director now owns 18,617 shares in the company, valued at approximately $1,523,242.94. This represents a 31.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the transaction, the chairman now owns 827,377 shares of the company’s stock, valued at $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 513,081 shares of company stock worth $41,903,066. 6.60% of the stock is currently owned by company insiders.

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.