Allen Mooney & Barnes Investment Advisors LLC Has $14.36 Million Position in The Charles Schwab Co. (NYSE:SCHW)

Allen Mooney & Barnes Investment Advisors LLC boosted its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.2% in the first quarter, Holdings Channel reports. The firm owned 183,489 shares of the financial services provider’s stock after acquiring an additional 3,959 shares during the period. Charles Schwab comprises about 2.3% of Allen Mooney & Barnes Investment Advisors LLC’s holdings, making the stock its 12th biggest position. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Charles Schwab were worth $14,363,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Charles Schwab in the 4th quarter valued at approximately $1,289,544,000. Kovitz Investment Group Partners LLC boosted its position in shares of Charles Schwab by 354.5% in the fourth 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 period. FMR LLC boosted its position in shares of Charles Schwab by 69.4% in the fourth 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 period. Marshall Wace LLP grew its stake in shares of Charles Schwab by 742.0% in the fourth quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider’s stock worth $309,451,000 after acquiring an additional 3,684,640 shares during the last quarter. Finally, Primecap Management Co. CA increased its position in Charles Schwab by 310.3% during the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider’s stock worth $314,716,000 after acquiring an additional 3,216,000 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SCHW shares. Truist Financial increased their price target on shares of Charles Schwab from $84.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Wells Fargo & Company reduced their target price on shares of Charles Schwab from $93.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods lifted their target price on Charles Schwab from $90.00 to $93.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 22nd. Morgan Stanley upped their price target on Charles Schwab from $76.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, May 13th. Finally, JMP Securities reissued a “market outperform” rating and set a $94.00 price objective on shares of Charles Schwab in a report on Monday, April 21st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.25.

Insider Activity

In related news, insider Paul V. Woolway sold 8,614 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $80.00, for a total transaction of $689,120.00. Following the transaction, the insider now owns 49,204 shares in the company, valued at $3,936,320. This represents a 14.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan M. Craig sold 47,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total transaction of $4,201,850.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,608 shares of company stock worth $8,392,040. 6.30% of the stock is owned by corporate insiders.

Charles Schwab Price Performance

NYSE:SCHW opened at $88.36 on Thursday. 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 firm has a market cap of $160.55 billion, a PE ratio of 29.55, a price-to-earnings-growth ratio of 0.99 and a beta of 0.94. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $89.85. The company’s 50-day moving average price is $82.58 and its two-hundred day moving average price is $79.79.

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

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Friday, May 9th. Charles Schwab’s payout ratio is presently 32.73%.

About Charles Schwab

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.