Novare Capital Management LLC Decreases Stake in The Charles Schwab Co. (NYSE:SCHW)

Novare Capital Management LLC cut its stake in The Charles Schwab Co. (NYSE:SCHW) by 16.9% in the fourth quarter, Holdings Channel reports. The firm owned 11,238 shares of the financial services provider’s stock after selling 2,286 shares during the period. Novare Capital Management LLC’s holdings in Charles Schwab were worth $832,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Washington Trust Advisors Inc. lifted its stake in shares of Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after buying an additional 149 shares during the period. Capital Performance Advisors LLP purchased a new position in Charles Schwab in the 3rd quarter worth $25,000. Prospera Private Wealth LLC acquired a new stake in Charles Schwab during the 3rd quarter worth about $31,000. Future Financial Wealth Managment LLC purchased a new stake in Charles Schwab during the 3rd quarter valued at about $32,000. Finally, Hazlett Burt & Watson Inc. acquired a new position in shares of Charles Schwab in the third quarter valued at about $33,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday. Cowen lifted their price objective on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Citigroup raised their target price on shares of Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Truist Financial reaffirmed a “buy” rating and issued a $90.00 price target (up from $86.00) on shares of Charles Schwab in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $83.83.

Charles Schwab Stock Down 0.5 %

Shares of SCHW opened at $81.67 on Friday. The firm has a market cap of $145.34 billion, a P/E ratio of 27.31, a PEG ratio of 1.46 and a beta of 0.99. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $83.35. The stock’s 50 day moving average is $77.81 and its two-hundred day moving average is $70.88. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5,190,822.51 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business’s revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 EPS. Analysts predict that The Charles Schwab Co. will post 4.09 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jonathan S. Beatty sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the sale, the insider now directly owns 18,069 shares in the company, valued at approximately $1,391,674.38. The trade was a 12.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher V. Dodds sold 9,284 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $81.43, for a total value of $755,996.12. Following the completion of the transaction, the director now owns 442,807 shares in the company, valued at $36,057,774.01. The trade was a 2.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,466 shares of company stock worth $3,352,884 over the last 90 days. 6.60% of the stock is currently owned by company insiders.

Charles Schwab 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.