New Wave Wealth Advisors LLC Lowers Stake in The Charles Schwab Co. (NYSE:SCHW)

New Wave Wealth Advisors LLC cut its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,054 shares of the financial services provider’s stock after selling 197 shares during the quarter. New Wave Wealth Advisors LLC’s holdings in Charles Schwab were worth $300,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Washington Trust Advisors Inc. boosted its position in shares of Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 149 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Charles Schwab in the third quarter worth approximately $25,000. Prospera Private Wealth LLC acquired a new stake in shares of Charles Schwab in the third quarter worth approximately $31,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Charles Schwab in the third quarter worth approximately $32,000. Finally, Hazlett Burt & Watson Inc. acquired a new position in Charles Schwab during the third quarter valued at approximately $33,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 14,643 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total value of $1,181,690.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher V. Dodds sold 9,284 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $81.43, for a total transaction of $755,996.12. Following the completion of the sale, the director now directly owns 442,807 shares of the company’s stock, valued at $36,057,774.01. The trade was a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,014 shares of company stock valued at $4,052,281 over the last 90 days. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Stock Performance

Shares of SCHW opened at $83.59 on Friday. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $83.84. The company has a market cap of $148.76 billion, a price-to-earnings ratio of 27.96, a price-to-earnings-growth ratio of 1.00 and a beta of 0.99. 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 firm has a fifty day moving average of $77.94 and a 200-day moving average of $71.08.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, equities analysts anticipate that The Charles Schwab Co. will post 4.18 earnings per share for the current year.

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.08 annualized dividend and a yield of 1.29%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio is presently 33.44%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SCHW shares. Redburn Partners dropped their price objective on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research note on Friday, January 17th. Jefferies Financial Group lifted their price objective on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Truist Financial reiterated a “buy” rating and set a $90.00 price objective (up previously from $86.00) on shares of Charles Schwab in a research note on Wednesday, January 22nd. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley lifted their price target on shares of Charles Schwab from $74.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $84.11.

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.