Avanza Fonder AB Sells 4,218 Shares of The Charles Schwab Co. (NYSE:SCHW)

Avanza Fonder AB decreased its holdings in The Charles Schwab Co. (NYSE:SCHW) by 4.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,672 shares of the financial services provider’s stock after selling 4,218 shares during the period. Avanza Fonder AB’s holdings in Charles Schwab were worth $7,912,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SCHW. Brighton Jones LLC grew its holdings in shares of Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock valued at $1,794,000 after purchasing an additional 19,195 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in Charles Schwab during the fourth quarter valued at $2,691,000. Golden State Wealth Management LLC purchased a new position in shares of Charles Schwab in the 4th quarter worth $62,000. Vest Financial LLC increased its holdings in shares of Charles Schwab by 24.3% in the 4th quarter. Vest Financial LLC now owns 8,556 shares of the financial services provider’s stock worth $633,000 after buying an additional 1,672 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its position in shares of Charles Schwab by 89.5% during the 4th quarter. Kingsview Wealth Management LLC now owns 12,786 shares of the financial services provider’s stock valued at $946,000 after buying an additional 6,039 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Morgan Stanley lifted their price target on Charles Schwab from $76.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 13th. Wells Fargo & Company dropped their target price on Charles Schwab from $93.00 to $87.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Truist Financial increased their price target on Charles Schwab from $84.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, May 15th. TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and raised their price target for the stock from $88.00 to $103.00 in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Charles Schwab from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.25.

Charles Schwab Stock Down 0.1%

NYSE:SCHW opened at $88.20 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a market capitalization of $160.26 billion, a P/E ratio of 29.50, a P/E/G ratio of 0.99 and a beta of 0.94. The company’s 50-day simple moving average is $81.93 and its 200-day simple moving average is $79.67. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $89.85.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same period last year, the business earned $0.74 EPS. On average, equities analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Friday, May 9th. Charles Schwab’s dividend payout ratio (DPR) is presently 32.73%.

Insider Activity at Charles Schwab

In related news, insider Jonathan M. Craig sold 47,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total value of $4,201,850.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frank C. Herringer sold 3,592 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $74.26, for a total transaction of $266,741.92. Following the transaction, the director now directly owns 172,162 shares of the company’s stock, valued at $12,784,750.12. This represents a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,608 shares of company stock valued at $8,392,040 in the last ninety days. Company insiders own 6.30% of the company’s stock.

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.