Meridian Wealth Management LLC Acquires Shares of 9,815 The Charles Schwab Co. (NYSE:SCHW)

Meridian Wealth Management LLC acquired a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 9,815 shares of the financial services provider’s stock, valued at approximately $636,000.

A number of other large investors have also recently made changes to their positions in the stock. Country Trust Bank purchased a new stake in Charles Schwab during the 2nd quarter worth about $26,000. Capital Performance Advisors LLP bought a new stake in shares of Charles Schwab during the third quarter valued at about $25,000. 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 valued at $25,000 after acquiring an additional 149 shares during the period. Fortitude Family Office LLC grew its stake in Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 192 shares in the last quarter. Finally, American Capital Advisory LLC purchased a new position in Charles Schwab during the second quarter valued at approximately $27,000. 84.38% of the stock is owned by institutional investors.

Charles Schwab Price Performance

SCHW stock opened at $81.26 on Monday. The Charles Schwab Co. has a one year low of $55.59 and a one year high of $82.50. The stock has a market cap of $144.62 billion, a PE ratio of 31.74, a P/E/G ratio of 1.75 and a beta of 0.96. The firm has a 50 day simple moving average of $70.55 and a two-hundred day simple moving average of $69.76. 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 announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the company earned $0.77 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. On average, analysts predict that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. Charles Schwab’s dividend payout ratio (DPR) is 39.06%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the sale, the director now owns 554,929 shares of the company’s stock, valued at $35,543,202.45. This represents a 1.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 112,929 shares of company stock valued at $8,196,624 in the last quarter. Company insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SCHW shares. Jefferies Financial Group decreased their target price on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Citigroup decreased their target price on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, September 27th. JPMorgan Chase & Co. upped their target price on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. The Goldman Sachs Group upped their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company upped their target price on shares of Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $74.18.

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.