Sculati Wealth Management LLC Trims Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Sculati Wealth Management LLC reduced its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,905 shares of the financial services provider’s stock after selling 192 shares during the quarter. Charles Schwab makes up about 1.2% of Sculati Wealth Management LLC’s holdings, making the stock its 23rd biggest holding. Sculati Wealth Management LLC’s holdings in Charles Schwab were worth $3,101,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in SCHW. Heck Capital Advisors LLC purchased a new position in shares of Charles Schwab during the 4th quarter worth approximately $50,000. Leigh Baldwin & CO. LLC purchased a new stake in shares of Charles Schwab in the 4th quarter worth about $293,000. Great Valley Advisor Group Inc. grew its position in shares of Charles Schwab by 8.6% in the 4th quarter. Great Valley Advisor Group Inc. now owns 32,827 shares of the financial services provider’s stock worth $2,430,000 after buying an additional 2,599 shares during the period. Ascent Group LLC grew its position in shares of Charles Schwab by 6.3% in the 4th quarter. Ascent Group LLC now owns 92,787 shares of the financial services provider’s stock worth $6,867,000 after buying an additional 5,511 shares during the period. Finally, Mackenzie Financial Corp grew its position in shares of Charles Schwab by 5.2% in the 4th quarter. Mackenzie Financial Corp now owns 495,524 shares of the financial services provider’s stock worth $36,674,000 after buying an additional 24,677 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Performance

Shares of SCHW opened at $87.44 on Monday. The business’s fifty day simple moving average is $79.97 and its two-hundred day simple moving average is $79.02. 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 company has a market cap of $158.88 billion, a price-to-earnings ratio of 29.25, a P/E/G ratio of 0.99 and a beta of 0.90. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $89.85.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same quarter last year, the firm posted $0.74 EPS. Research analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.24%. Charles Schwab’s dividend payout ratio (DPR) is currently 32.73%.

Insider Transactions at Charles Schwab

In related news, insider Paul V. Woolway sold 9,887 shares of Charles Schwab stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total transaction of $745,282.06. Following the transaction, the insider now directly owns 47,931 shares in the company, valued at approximately $3,613,038.78. The trade was a 17.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Peter J. Morgan III sold 10,176 shares of Charles Schwab stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $87.39, for a total value of $889,280.64. The disclosure for this sale can be found here. Insiders have sold a total of 96,088 shares of company stock worth $8,105,928 in the last ninety days. Insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Piper Sandler upped their target price on shares of Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. The Goldman Sachs Group raised shares of Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Friday, April 25th. Keefe, Bruyette & Woods upped their price target on Charles Schwab from $90.00 to $93.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 22nd. TD Securities upped their price target on Charles Schwab from $95.00 to $113.00 and gave the stock a “buy” rating in a research note on Tuesday, May 20th. Finally, Morgan Stanley upped their price target on Charles Schwab from $76.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.63.

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.