The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Noble Wealth Management PBC

Noble Wealth Management PBC cut its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 12.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,650 shares of the financial services provider’s stock after selling 1,075 shares during the quarter. Noble Wealth Management PBC’s holdings in Charles Schwab were worth $599,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC lifted its holdings in Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock valued at $1,794,000 after acquiring an additional 19,195 shares during the period. Kingsview Wealth Management LLC lifted its holdings in Charles Schwab by 89.5% in the fourth quarter. Kingsview Wealth Management LLC now owns 12,786 shares of the financial services provider’s stock valued at $946,000 after acquiring an additional 6,039 shares during the period. Empowered Funds LLC lifted its holdings in Charles Schwab by 114.8% in the fourth quarter. Empowered Funds LLC now owns 49,073 shares of the financial services provider’s stock valued at $3,632,000 after acquiring an additional 26,231 shares during the period. Stephens Inc. AR lifted its holdings in Charles Schwab by 5.3% in the fourth quarter. Stephens Inc. AR now owns 35,072 shares of the financial services provider’s stock valued at $2,596,000 after acquiring an additional 1,774 shares during the period. Finally, Kestra Private Wealth Services LLC lifted its holdings in Charles Schwab by 7.8% in the fourth quarter. Kestra Private Wealth Services LLC now owns 9,415 shares of the financial services provider’s stock valued at $697,000 after acquiring an additional 680 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SCHW shares. JMP Securities reissued a “market outperform” rating and issued a $94.00 target price on shares of Charles Schwab in a report on Monday, April 21st. Wells Fargo & Company reduced their target price on Charles Schwab from $93.00 to $87.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Piper Sandler raised their target price on Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. Morgan Stanley raised their target price on Charles Schwab from $76.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, May 13th. Finally, TD Securities lifted their price target on Charles Schwab from $95.00 to $113.00 and gave the stock a “buy” rating in a research note on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus price target of $89.25.

Insider Activity

In other news, insider Jonathan S. Beatty sold 2,850 shares of the business’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $87.57, for a total transaction of $249,574.50. Following the completion of the sale, the insider now owns 15,219 shares in the company, valued at approximately $1,332,727.83. The trade was a 15.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul V. Woolway sold 3,380 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $77.43, for a total transaction of $261,713.40. Following the sale, the insider now directly owns 45,824 shares of the company’s stock, valued at approximately $3,548,152.32. This trade represents a 6.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,608 shares of company stock valued at $8,392,040 in the last 90 days. 6.30% of the stock is currently owned by insiders.

Charles Schwab Trading Up 0.1%

Charles Schwab stock opened at $88.36 on Thursday. The stock has a market cap of $160.55 billion, a PE ratio of 29.55, a P/E/G ratio of 0.99 and a beta of 0.94. The stock has a 50-day moving average price of $82.58 and a 200 day moving average price of $79.79. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $89.85. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data 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. The firm had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same quarter last year, the business posted $0.74 EPS. Equities research analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

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