Aberdeen Wealth Management LLC Raises Position in The Charles Schwab Co. (NYSE:SCHW)

Aberdeen Wealth Management LLC lifted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 11.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,244 shares of the financial services provider’s stock after purchasing an additional 426 shares during the quarter. Aberdeen Wealth Management LLC’s holdings in Charles Schwab were worth $275,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parnassus Investments LLC boosted its holdings in Charles Schwab by 4.1% in the third quarter. Parnassus Investments LLC now owns 1,694,634 shares of the financial services provider’s stock worth $109,829,000 after acquiring an additional 66,876 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Charles Schwab in the 3rd quarter worth approximately $14,275,000. W.G. Shaheen & Associates DBA Whitney & Co grew its position in Charles Schwab by 0.5% during the 3rd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 281,331 shares of the financial services provider’s stock worth $18,233,000 after purchasing an additional 1,265 shares during the last quarter. Prospera Financial Services Inc increased its stake in Charles Schwab by 45.9% during the 3rd quarter. Prospera Financial Services Inc now owns 20,945 shares of the financial services provider’s stock valued at $1,358,000 after purchasing an additional 6,590 shares in the last quarter. Finally, Aviance Capital Partners LLC raised its holdings in shares of Charles Schwab by 1.2% in the third quarter. Aviance Capital Partners LLC now owns 89,477 shares of the financial services provider’s stock worth $5,799,000 after buying an additional 1,026 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Charles Schwab

In related news, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jonathan S. Beatty sold 2,500 shares of the firm’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 sale, the insider now directly owns 18,069 shares in the company, valued at $1,391,674.38. This trade represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,645 shares of company stock valued at $7,440,627 in the last three months. 6.60% of the stock is owned by corporate insiders.

Charles Schwab Price Performance

Charles Schwab stock opened at $81.40 on Tuesday. The company has a 50-day moving average price of $69.10 and a 200 day moving average price of $69.64. The Charles Schwab Co. has a 12-month low of $55.42 and a 12-month high of $82.50. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a market cap of $144.86 billion, a P/E ratio of 31.80, a PEG ratio of 1.76 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the business posted $0.77 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. Sell-side analysts anticipate that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.23%. Charles Schwab’s dividend payout ratio is currently 39.06%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. The Goldman Sachs Group upped their target price on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Piper Sandler boosted their price objective on Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Bank of America lowered their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Raymond James decreased their price objective on shares of Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $74.18.

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.