Biltmore Family Office LLC Sells 1,373 Shares of The Charles Schwab Co. (NYSE:SCHW)

Biltmore Family Office LLC trimmed its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 26.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,844 shares of the financial services provider’s stock after selling 1,373 shares during the quarter. Biltmore Family Office LLC’s holdings in Charles Schwab were worth $284,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Disciplined Investors L.L.C. purchased a new stake in Charles Schwab in the fourth quarter worth $1,017,000. Bryce Point Capital LLC purchased a new position in shares of Charles Schwab during the fourth quarter valued at approximately $554,000. Huntington National Bank raised its stake in Charles Schwab by 65.9% during the fourth quarter. Huntington National Bank now owns 35,148 shares of the financial services provider’s stock valued at $2,601,000 after buying an additional 13,957 shares during the last quarter. RFG Bristol Wealth Advisors LLC bought a new position in Charles Schwab in the 4th quarter worth about $852,000. Finally, Groupama Asset Managment bought a new position in shares of Charles Schwab in the fourth quarter worth approximately $2,423,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Up 1.3 %

SCHW opened at $78.67 on Thursday. The stock has a fifty day moving average price of $79.48 and a 200-day moving average price of $75.69. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. 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 firm has a market cap of $142.67 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 0.99 and a beta of 0.91.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the business earned $0.68 EPS. The company’s revenue was up 19.5% compared to the same quarter last year. As a group, equities research analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.27 dividend. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.37%. Charles Schwab’s dividend payout ratio (DPR) is presently 36.12%.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Piper Sandler upped their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Barclays raised their target price on Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Citigroup raised shares of Charles Schwab from a “neutral” rating to a “buy” rating and lifted their price target for the company from $85.00 to $102.00 in a report on Wednesday. Finally, Redburn Partners cut their price target on Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research note on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.28.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the sale, the chairman now owns 827,377 shares of the company’s stock, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total transaction of $1,181,690.10. The disclosure for this sale can be found here. Insiders sold 513,081 shares of company stock valued at $41,903,066 in the last quarter. 6.60% of the stock is currently owned by corporate insiders.

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.