The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Broadway Wealth Solutions Inc.

Broadway Wealth Solutions Inc. reduced its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 5.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,859 shares of the financial services provider’s stock after selling 218 shares during the period. Broadway Wealth Solutions Inc.’s holdings in Charles Schwab were worth $302,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Charles Schwab during the 4th quarter valued at approximately $38,000. Atala Financial Inc bought a new position in Charles Schwab during the 4th quarter worth $41,000. Investors Research Corp grew its stake in Charles Schwab by 75.2% during the 1st quarter. Investors Research Corp now owns 559 shares of the financial services provider’s stock worth $44,000 after buying an additional 240 shares during the last quarter. Knuff & Co LLC grew its stake in Charles Schwab by 1,309.3% during the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock worth $45,000 after buying an additional 563 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new position in Charles Schwab during the 4th quarter worth $46,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on SCHW. Truist Financial upped their price objective on Charles Schwab from $84.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Barclays lowered their price objective on Charles Schwab from $96.00 to $84.00 and set an “overweight” rating for the company in a research note on Monday, April 7th. Keefe, Bruyette & Woods upped their price objective on Charles Schwab from $90.00 to $93.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 22nd. TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and upped their price objective for the stock from $88.00 to $103.00 in a research note on Tuesday, February 18th. Finally, UBS Group upped their price objective on Charles Schwab from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Charles Schwab currently has an average rating of “Moderate Buy” and a consensus price target of $89.63.

Charles Schwab Trading Up 1.2%

Shares of SCHW stock opened at $88.25 on Friday. The stock has a 50-day simple moving average of $81.74 and a 200 day simple moving average of $79.63. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $89.85. The stock has a market capitalization of $160.35 billion, a P/E ratio of 29.52, a P/E/G ratio of 0.99 and a beta of 0.94. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.46 billion. During the same quarter last year, the business posted $0.74 earnings per share. On average, sell-side analysts expect that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

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

Insider Activity at Charles Schwab

In other news, Director Frank C. Herringer sold 3,592 shares of the company’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $74.26, for a total transaction of $266,741.92. Following the completion of the sale, the director now directly owns 172,162 shares of the company’s stock, valued at $12,784,750.12. This represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Paula A. Sneed sold 8,647 shares of the company’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total value of $761,454.82. Following the sale, the director now directly owns 105,654 shares of the company’s stock, valued at approximately $9,303,891.24. This represents a 7.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,608 shares of company stock valued at $8,392,040 over the last 90 days. 6.30% of the stock is currently owned by corporate insiders.

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.