Joseph R. Martinetto Sells 43,000 Shares of The Charles Schwab Co. (NYSE:SCHW) Stock

The Charles Schwab Co. (NYSE:SCHW) COO Joseph R. Martinetto sold 43,000 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $70.83, for a total value of $3,045,690.00. Following the transaction, the chief operating officer now directly owns 41,414 shares in the company, valued at approximately $2,933,353.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Charles Schwab Price Performance

Shares of Charles Schwab stock opened at $72.92 on Friday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $129.51 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 1.06 and a beta of 1.01. The business’s 50-day moving average price is $68.38 and its 200-day moving average price is $62.89. The Charles Schwab Co. has a 12 month low of $45.65 and a 12 month high of $73.88.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. Charles Schwab had a return on equity of 19.86% and a net margin of 26.14%. The business had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same period last year, the company earned $1.07 EPS. Charles Schwab’s revenue for the quarter was down 18.9% compared to the same quarter last year. Sell-side analysts forecast that The Charles Schwab Co. will post 3.43 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, February 8th. This represents a $1.00 annualized dividend and a yield of 1.37%. Charles Schwab’s payout ratio is 41.84%.

Analyst Upgrades and Downgrades

SCHW has been the topic of a number of recent research reports. Morgan Stanley upped their price target on Charles Schwab from $65.00 to $71.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Bank of America increased their price objective on Charles Schwab from $68.00 to $70.00 and gave the stock an “underperform” rating in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on Charles Schwab from $86.00 to $89.00 and gave the stock an “overweight” rating in a report on Tuesday. Piper Sandler increased their price objective on Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Finally, StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $74.47.

Hedge Funds Weigh In On Charles Schwab

Several institutional investors and hedge funds have recently bought and sold shares of SCHW. Vontobel Holding Ltd. grew its position in Charles Schwab by 7.5% during the 1st quarter. Vontobel Holding Ltd. now owns 20,822 shares of the financial services provider’s stock worth $1,847,000 after acquiring an additional 1,452 shares during the last quarter. Moors & Cabot Inc. grew its position in shares of Charles Schwab by 4.3% in the 1st quarter. Moors & Cabot Inc. now owns 6,263 shares of the financial services provider’s stock worth $528,000 after buying an additional 259 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Charles Schwab by 25.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 13,064 shares of the financial services provider’s stock worth $1,101,000 after buying an additional 2,648 shares during the last quarter. Brighton Jones LLC grew its position in shares of Charles Schwab by 7.5% in the 1st quarter. Brighton Jones LLC now owns 3,807 shares of the financial services provider’s stock worth $321,000 after buying an additional 267 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of Charles Schwab by 16.6% in the 1st quarter. Covestor Ltd now owns 1,239 shares of the financial services provider’s stock worth $104,000 after buying an additional 176 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

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.