Proficio Capital Partners LLC Purchases Shares of 5,959 The Charles Schwab Co. (NYSE:SCHW)

Proficio Capital Partners LLC acquired a new position in The Charles Schwab Co. (NYSE:SCHW) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 5,959 shares of the financial services provider’s stock, valued at approximately $441,000.

Other hedge funds have also recently made changes to their positions in the company. Gladstone Institutional Advisory LLC boosted its holdings in Charles Schwab by 2.0% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 6,247 shares of the financial services provider’s stock valued at $462,000 after acquiring an additional 124 shares in the last quarter. N.E.W. Advisory Services LLC lifted its position in shares of Charles Schwab by 1.7% in the 4th quarter. N.E.W. Advisory Services LLC now owns 7,522 shares of the financial services provider’s stock worth $557,000 after purchasing an additional 125 shares during the period. Klingman & Associates LLC boosted its stake in shares of Charles Schwab by 3.2% during the 4th quarter. Klingman & Associates LLC now owns 4,083 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 125 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its position in shares of Charles Schwab by 2.7% during the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 4,763 shares of the financial services provider’s stock valued at $353,000 after buying an additional 127 shares during the period. Finally, Stablepoint Partners LLC raised its stake in Charles Schwab by 1.1% in the fourth quarter. Stablepoint Partners LLC now owns 12,486 shares of the financial services provider’s stock worth $924,000 after buying an additional 141 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on SCHW. JMP Securities reaffirmed a “market outperform” rating and set a $94.00 price objective (up from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Truist Financial raised their target price on Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Barclays lifted their price target on Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft increased their price objective on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Piper Sandler boosted their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $86.33.

Charles Schwab Stock Up 2.1 %

Shares of Charles Schwab stock opened at $80.07 on Tuesday. The company has a 50-day simple moving average of $79.14 and a two-hundred day simple moving average of $74.98. The stock has a market capitalization of $145.21 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping 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 company had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the business earned $0.68 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.27 per share. 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 dividend yield of 1.35%. The ex-dividend date was Friday, February 14th. Charles Schwab’s dividend payout ratio is presently 36.12%.

Insider Activity at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the 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 transaction, the chairman now owns 827,377 shares in the company, valued at $67,770,450.07. This represents a 35.96 % 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 firm’s stock in a transaction that occurred on 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. Insiders have sold 501,087 shares of company stock valued at $40,952,233 over the last ninety days. 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.