Charles R. Schwab Sells 59,905 Shares of The Charles Schwab Co. (NYSE:SCHW) Stock

The Charles Schwab Co. (NYSE:SCHW) Chairman Charles R. Schwab sold 59,905 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $74.96, for a total transaction of $4,490,478.80. Following the completion of the sale, the chairman now directly owns 61,098,607 shares in the company, valued at approximately $4,579,951,580.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Charles Schwab Price Performance

Shares of SCHW stock opened at $74.54 on Thursday. The Charles Schwab Co. has a 1 year low of $45.65 and a 1 year high of $75.55. The firm’s 50 day moving average is $70.30 and its 200-day moving average is $64.40. The firm has a market capitalization of $132.39 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 1.09 and a beta of 1.01. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. Charles Schwab’s payout ratio is 41.84%.

Hedge Funds Weigh In On Charles Schwab

Large investors have recently bought and sold shares of the business. Providence Capital Advisors LLC acquired a new position in Charles Schwab in the third quarter valued at approximately $28,000. Sugarloaf Wealth Management LLC lifted its holdings in Charles Schwab by 60.0% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock valued at $30,000 after buying an additional 165 shares during the period. Frazier Financial Advisors LLC acquired a new position in Charles Schwab in the fourth quarter valued at approximately $30,000. Wetzel Investment Advisors Inc. acquired a new position in Charles Schwab in the fourth quarter valued at approximately $31,000. Finally, Tributary Capital Management LLC acquired a new position in Charles Schwab in the first quarter valued at approximately $31,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of analyst reports. Piper Sandler upped their target price on shares of Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. The Goldman Sachs Group reissued a “neutral” rating and issued a $71.00 target price (up previously from $70.00) on shares of Charles Schwab in a research note on Wednesday, January 3rd. Raymond James reduced their price target on shares of Charles Schwab from $78.00 to $75.00 and set an “outperform” rating on the stock in a research report on Thursday, January 18th. Barclays boosted their price target on shares of Charles Schwab from $74.00 to $75.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 16th. Finally, Citigroup boosted their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and a consensus price target of $74.47.

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 in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.