Moors & Cabot Inc. Boosts Holdings in The Charles Schwab Co. (NYSE:SCHW)

Moors & Cabot Inc. grew its holdings in The Charles Schwab Co. (NYSE:SCHW) by 80.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 21,412 shares of the financial services provider’s stock after purchasing an additional 9,547 shares during the quarter. Moors & Cabot Inc.’s holdings in Charles Schwab were worth $1,214,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cloverfields Capital Group LP boosted its stake in shares of Charles Schwab by 11.5% in the first quarter. Cloverfields Capital Group LP now owns 50,785 shares of the financial services provider’s stock valued at $2,660,000 after purchasing an additional 5,246 shares during the period. Independent Advisor Alliance lifted its stake in Charles Schwab by 334.1% in the second quarter. Independent Advisor Alliance now owns 55,268 shares of the financial services provider’s stock worth $3,133,000 after acquiring an additional 42,535 shares during the last quarter. Baker Tilly Wealth Management LLC lifted its stake in Charles Schwab by 2.0% in the second quarter. Baker Tilly Wealth Management LLC now owns 11,729 shares of the financial services provider’s stock worth $665,000 after acquiring an additional 229 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in Charles Schwab by 21.4% in the second quarter. First Horizon Advisors Inc. now owns 3,839 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 677 shares during the last quarter. Finally, Bard Financial Services Inc. lifted its stake in Charles Schwab by 372.9% in the second quarter. Bard Financial Services Inc. now owns 24,475 shares of the financial services provider’s stock worth $1,387,000 after acquiring an additional 19,300 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Peter J. Morgan III sold 8,000 shares of the stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $59.61, for a total value of $476,880.00. Following the sale, the general counsel now directly owns 8,014 shares of the company’s stock, valued at approximately $477,714.54. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Charles Schwab news, Director Paula A. Sneed sold 6,918 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $49.98, for a total value of $345,761.64. Following the transaction, the director now directly owns 112,398 shares in the company, valued at approximately $5,617,652.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Peter J. Morgan III sold 8,000 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $59.61, for a total transaction of $476,880.00. Following the completion of the transaction, the general counsel now owns 8,014 shares in the company, valued at $477,714.54. The disclosure for this sale can be found here. Insiders have sold a total of 21,824 shares of company stock worth $1,214,937 in the last quarter. Company insiders own 6.60% of the company’s stock.

Charles Schwab Stock Down 0.7 %

SCHW stock opened at $55.67 on Friday. The stock has a market capitalization of $98.63 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 2.48 and a beta of 0.94. The company has a fifty day moving average of $54.07 and a 200-day moving average of $56.15. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.66 and a current ratio of 0.66. The Charles Schwab Co. has a one year low of $45.00 and a one year high of $86.63.

Charles Schwab (NYSE:SCHW) last released its earnings results on Monday, October 16th. The financial services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.62 billion. Charles Schwab had a return on equity of 24.58% and a net margin of 30.14%. Charles Schwab’s quarterly revenue was down 16.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.10 earnings per share. As a group, analysts expect that The Charles Schwab Co. will post 3.16 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.80%. Charles Schwab’s payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Raymond James lifted their price target on shares of Charles Schwab from $72.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 17th. Jefferies Financial Group reduced their price objective on shares of Charles Schwab from $66.00 to $62.00 in a research report on Tuesday, October 10th. Piper Sandler reduced their price objective on shares of Charles Schwab from $86.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, October 9th. JPMorgan Chase & Co. reduced their price objective on shares of Charles Schwab from $92.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday, October 17th. Finally, The Goldman Sachs Group boosted their price objective on shares of Charles Schwab from $71.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $69.91.

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. The company operates in two segments, Investor Services and Advisor Services.