MONECO Advisors LLC Acquires 279 Shares of The Charles Schwab Co. (NYSE:SCHW)

MONECO Advisors LLC boosted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,372 shares of the financial services provider’s stock after purchasing an additional 279 shares during the period. MONECO Advisors LLC’s holdings in Charles Schwab were worth $250,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in SCHW. Washington Trust Advisors Inc. raised its stake in shares of Charles Schwab by 62.6% during 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 last quarter. Capital Performance Advisors LLP bought a new position in shares of Charles Schwab during the third quarter valued at about $25,000. Prospera Private Wealth LLC bought a new position in shares of Charles Schwab during the third quarter valued at about $31,000. Hazlett Burt & Watson Inc. bought a new position in shares of Charles Schwab during the third quarter valued at about $33,000. Finally, Planning Capital Management Corp bought a new position in shares of Charles Schwab during the third quarter valued at about $33,000. 84.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SCHW. 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. JMP Securities reiterated a “market outperform” rating and set a $94.00 price target (up previously from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Barclays boosted their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Truist Financial boosted their price target on shares of Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned 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 $86.33.

Insider Transactions at Charles Schwab

In related news, Director Arun Sarin sold 8,548 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the transaction, the director now owns 18,617 shares in the company, valued at $1,523,242.94. This represents a 31.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the 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. Over the last 90 days, insiders have sold 487,820 shares of company stock worth $39,938,849. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW opened at $79.01 on Wednesday. The stock has a market cap of $140.74 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 0.99 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 Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50. The firm’s 50-day simple moving average is $78.07 and its two-hundred day simple moving average is $73.34.

Charles Schwab (NYSE:SCHW) last issued 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. The firm had revenue of $5.33 billion for 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 business’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 earnings per share. Analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Friday, February 14th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio is currently 36.12%.

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.