The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Purus Wealth Management LLC

Purus Wealth Management LLC lowered its position in The Charles Schwab Co. (NYSE:SCHW) by 6.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,898 shares of the financial services provider’s stock after selling 285 shares during the quarter. Purus Wealth Management LLC’s holdings in Charles Schwab were worth $289,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SCHW. Benjamin Edwards Inc. grew its holdings in Charles Schwab by 2,840.7% in the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 5,937 shares during the last quarter. Synovus Financial Corp boosted its position in shares of Charles Schwab by 46.0% in the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after buying an additional 21,377 shares in the last quarter. Patten & Patten Inc. TN grew its stake in Charles Schwab by 155.9% in the 3rd quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock valued at $6,751,000 after acquiring an additional 63,463 shares during the last quarter. Equity Investment Corp increased its holdings in Charles Schwab by 9.4% during the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock valued at $106,299,000 after acquiring an additional 140,643 shares in the last quarter. Finally, Teewinot Capital Advisers L.L.C. raised its position in Charles Schwab by 9.0% during the second quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after acquiring an additional 64,041 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

Charles Schwab stock opened at $76.53 on Monday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $136.20 billion, a P/E ratio of 29.90, a PEG ratio of 1.19 and a beta of 0.99. The firm has a fifty day moving average of $77.68 and a 200-day moving average of $70.63. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $83.35.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.31%. Charles Schwab’s dividend payout ratio (DPR) is currently 39.06%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SCHW. Truist Financial raised shares of Charles Schwab to a “strong-buy” rating in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Citigroup cut their price target on Charles Schwab from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, January 10th. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lifted their price target on Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $81.41.

Insider Activity at Charles Schwab

In other news, Director Christopher V. Dodds sold 9,284 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $81.43, for a total transaction of $755,996.12. Following the completion of the sale, the director now directly owns 442,807 shares in the company, valued at $36,057,774.01. This trade represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 2,500 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the transaction, the insider now owns 18,069 shares in the company, valued at approximately $1,391,674.38. This trade represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,823 shares of company stock worth $2,171,194. 6.60% of the stock is currently owned by company 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.