Abbrea Capital LLC Cuts Holdings in The Charles Schwab Co. (NYSE:SCHW)

Abbrea Capital LLC lowered its holdings in The Charles Schwab Co. (NYSE:SCHW) by 8.9% during the fourth quarter, HoldingsChannel reports. The fund owned 5,635 shares of the financial services provider’s stock after selling 550 shares during the period. Abbrea Capital LLC’s holdings in Charles Schwab were worth $388,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Providence Capital Advisors LLC purchased a new position in shares of Charles Schwab in the 3rd quarter valued at about $28,000. Sugarloaf Wealth Management LLC grew its stake in Charles Schwab by 60.0% during 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 last quarter. Wetzel Investment Advisors Inc. purchased a new position in Charles Schwab during the 4th quarter worth approximately $31,000. BluePath Capital Management LLC purchased a new position in Charles Schwab during the 3rd quarter worth approximately $34,000. Finally, Hall Laurie J Trustee purchased a new position in Charles Schwab during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW traded down $0.30 during mid-day trading on Thursday, hitting $74.89. The company’s stock had a trading volume of 6,373,539 shares, compared to its average volume of 7,758,854. The Charles Schwab Co. has a 1-year low of $45.65 and a 1-year high of $75.55. The firm has a market capitalization of $133.01 billion, a P/E ratio of 31.33, a P/E/G ratio of 1.10 and a beta of 1.01. The firm has a 50-day simple moving average of $69.27 and a 200 day simple moving average of $63.60. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Thursday, May 9th. Charles Schwab’s payout ratio is currently 41.84%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Piper Sandler raised their price target on Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Citigroup raised their price target on Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Raymond James dropped their price target on Charles Schwab from $78.00 to $75.00 and set an “outperform” rating on the stock in a research note on Thursday, January 18th. JPMorgan Chase & Co. raised their price target on Charles Schwab from $86.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods increased their price objective on Charles Schwab from $75.00 to $76.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.47.

Insider Activity at Charles Schwab

In related news, insider Nigel J. Murtagh sold 29,991 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $67.80, for a total value of $2,033,389.80. Following the completion of the transaction, the insider now directly owns 81,446 shares of the company’s stock, valued at approximately $5,522,038.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Charles Schwab news, insider Nigel J. Murtagh sold 29,991 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $67.80, for a total transaction of $2,033,389.80. Following the completion of the transaction, the insider now owns 81,446 shares of the company’s stock, valued at $5,522,038.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Peter B. Crawford sold 8,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $64.76, for a total value of $518,080.00. Following the transaction, the chief financial officer now directly owns 29,611 shares of the company’s stock, valued at approximately $1,917,608.36. The disclosure for this sale can be found here. Insiders sold 389,167 shares of company stock valued at $26,987,035 in the last ninety days. Corporate insiders own 6.60% of the company’s stock.

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.