Forte Capital LLC ADV Acquires New Holdings in The Charles Schwab Co. (NYSE:SCHW)

Forte Capital LLC ADV acquired a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,705 shares of the financial services provider’s stock, valued at approximately $200,000.

Several other institutional investors also recently bought and sold shares of the business. Hardy Reed LLC increased its holdings in Charles Schwab by 1.3% during the fourth quarter. Hardy Reed LLC now owns 13,225 shares of the financial services provider’s stock valued at $979,000 after buying an additional 166 shares during the period. Handelsbanken Fonder AB grew its holdings in Charles Schwab by 11.0% in the fourth quarter. Handelsbanken Fonder AB now owns 533,712 shares of the financial services provider’s stock worth $39,500,000 after purchasing an additional 52,845 shares during the last quarter. Jacobson & Schmitt Advisors LLC grew its holdings in Charles Schwab by 0.4% in the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 162,359 shares of the financial services provider’s stock worth $12,016,000 after purchasing an additional 718 shares during the last quarter. Ieq Capital LLC grew its holdings in Charles Schwab by 32.4% in the fourth quarter. Ieq Capital LLC now owns 77,685 shares of the financial services provider’s stock worth $5,749,000 after purchasing an additional 19,020 shares during the last quarter. Finally, Abacus Planning Group Inc. purchased a new position in Charles Schwab in the fourth quarter worth $220,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Truist Financial lifted their price target on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Citigroup lifted their price target on shares of Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. JMP Securities reissued a “market outperform” rating and set a $94.00 price objective (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Finally, UBS Group boosted their price objective on shares of Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $86.33.

Charles Schwab Trading Down 1.6 %

NYSE SCHW opened at $80.50 on Friday. The company has a market capitalization of $143.38 billion, a PE ratio of 26.92, a P/E/G ratio of 0.99 and a beta of 0.99. The company has a fifty day moving average of $77.98 and a 200 day moving average of $72.95. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The company had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 earnings per share. Research analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, February 14th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.34%. Charles Schwab’s payout ratio is currently 36.12%.

Insiders Place Their Bets

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the transaction, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was 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. Over the last quarter, insiders sold 490,120 shares of company stock worth $40,127,472. Company insiders own 6.60% 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.