abrdn plc Sells 2,108,580 Shares of The Charles Schwab Co. (NYSE:SCHW)

abrdn plc trimmed its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 55.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,684,410 shares of the financial services provider’s stock after selling 2,108,580 shares during the quarter. abrdn plc owned approximately 0.10% of Charles Schwab worth $115,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Providence Capital Advisors LLC bought a new position in Charles Schwab during the 3rd quarter worth approximately $28,000. Sugarloaf Wealth Management LLC lifted its holdings in Charles Schwab by 60.0% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock worth $30,000 after buying an additional 165 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in Charles Schwab in the 4th quarter worth approximately $31,000. Worth Asset Management LLC purchased a new stake in Charles Schwab in the 1st quarter worth approximately $32,000. Finally, BluePath Capital Management LLC purchased a new stake in Charles Schwab in the 3rd quarter worth approximately $34,000. 84.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SCHW shares. 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. Citigroup increased their price objective on Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Bank of America raised their target price on Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a research note on Tuesday, April 16th. Morgan Stanley lifted 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. Finally, Barclays lifted their price target on Charles Schwab from $74.00 to $75.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Charles Schwab presently has an average rating of “Hold” and an average target price of $74.47.

Charles Schwab Trading Up 0.7 %

Charles Schwab stock opened at $73.42 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 business’s fifty day simple moving average is $68.58 and its two-hundred day simple moving average is $63.11. The Charles Schwab Co. has a 12 month low of $45.65 and a 12 month high of $73.88. The company has a market capitalization of $130.40 billion, a price-to-earnings ratio of 30.72, a price-to-earnings-growth ratio of 1.07 and a beta of 1.01.

Charles Schwab (NYSE:SCHW) last released its earnings results on Wednesday, January 17th. The financial services provider reported $0.68 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 the consensus estimate of $4.49 billion. During the same period in the previous year, the company posted $1.07 earnings per share. The company’s revenue for the quarter was down 18.9% compared to the same quarter last year. As a group, equities analysts predict that The Charles Schwab Co. will post 3.42 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Thursday, February 8th. Charles Schwab’s dividend payout ratio is currently 41.84%.

Insider Transactions at Charles Schwab

In other news, CFO Peter B. Crawford sold 5,482 shares of the business’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $73.46, for a total value of $402,707.72. Following the completion of the transaction, the chief financial officer now owns 60,567 shares in the company, valued at $4,449,251.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Peter B. Crawford sold 4,000 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $64.49, for a total transaction of $257,960.00. Following the completion of the sale, the chief financial officer now owns 37,611 shares in the company, valued at $2,425,533.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Peter B. Crawford sold 5,482 shares of the company’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $73.46, for a total value of $402,707.72. Following the sale, the chief financial officer now owns 60,567 shares of the company’s stock, valued at approximately $4,449,251.82. The disclosure for this sale can be found here. Insiders sold 312,800 shares of company stock worth $21,081,569 over the last quarter. 6.60% of the stock is currently owned by insiders.

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.