Tranquility Partners LLC Sells 911 Shares of The Charles Schwab Co. (NYSE:SCHW)

Tranquility Partners LLC cut its holdings in The Charles Schwab Co. (NYSE:SCHW) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,364 shares of the financial services provider’s stock after selling 911 shares during the period. Tranquility Partners LLC’s holdings in Charles Schwab were worth $1,285,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. State Street Corp lifted its stake in Charles Schwab by 0.7% in the third quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock worth $4,023,175,000 after purchasing an additional 414,949 shares during the last quarter. Geode Capital Management LLC lifted its stake in Charles Schwab by 1.5% in the third quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock worth $1,945,614,000 after purchasing an additional 445,304 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Charles Schwab by 6.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after purchasing an additional 1,711,312 shares during the last quarter. Franklin Resources Inc. lifted its stake in Charles Schwab by 15.0% in the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after purchasing an additional 3,157,923 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Charles Schwab by 2.5% in the third quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock worth $1,308,485,000 after purchasing an additional 493,264 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SCHW shares. JPMorgan Chase & Co. upped their price objective on shares of Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $89.00 to $93.00 in a research note on Wednesday, January 22nd. Piper Sandler upped their price objective on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group boosted their price target on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $84.56.

Insider Buying and Selling at Charles Schwab

In other news, Director Arun Sarin sold 8,548 shares of Charles Schwab stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the transaction, the director now owns 18,617 shares of the company’s stock, valued at $1,523,242.94. The trade was a 31.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the transaction, the insider now directly owns 18,069 shares in the company, valued at approximately $1,481,838.69. The trade was a 11.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,514 shares of company stock valued at $3,859,731. Company insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

Shares of NYSE:SCHW opened at $82.37 on Thursday. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50. The stock has a market capitalization of $146.59 billion, a P/E ratio of 27.55, a PEG ratio of 1.02 and a beta of 0.99. The firm has a fifty day simple moving average of $78.04 and a two-hundred day simple moving average of $72.11. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the business earned $0.68 EPS. The business’s revenue was up 19.5% on a year-over-year basis. On average, analysts expect that The Charles Schwab Co. will post 4.18 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.27 per share. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.31%. Charles Schwab’s dividend payout ratio (DPR) is 33.44%.

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.