Vivaldi Capital Management LP Buys New Shares in The Charles Schwab Co. (NYSE:SCHW)

Vivaldi Capital Management LP purchased a new position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 200,589 shares of the financial services provider's stock, valued at approximately $14,846,000. Charles Schwab makes up 2.3% of Vivaldi Capital Management LP's investment portfolio, making the stock its 10th biggest position.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Charles Schwab by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider's stock worth $9,516,075,000 after purchasing an additional 1,187,384 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Charles Schwab by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider's stock valued at $2,279,742,000 after acquiring an additional 760,043 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Charles Schwab by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider's stock valued at $1,513,894,000 after acquiring an additional 265,708 shares in the last quarter. Norges Bank purchased a new position in shares of Charles Schwab in the fourth quarter valued at approximately $1,289,544,000. Finally, Northern Trust Corp lifted its position in shares of Charles Schwab by 13.4% in the fourth quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider's stock valued at $1,164,911,000 after acquiring an additional 1,864,286 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Insiders Place Their Bets

In other news, insider Paul V. Woolway sold 3,380 shares of Charles Schwab stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $79.32, for a total value of $268,101.60. Following the completion of the sale, the insider now directly owns 57,818 shares of the company's stock, valued at approximately $4,586,123.76. The trade was a 5.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Peter J. Morgan III sold 10,176 shares of Charles Schwab stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $87.39, for a total value of $889,280.64. The disclosure for this sale can be found here. Insiders sold a total of 96,088 shares of company stock valued at $8,105,928 over the last quarter. 6.30% of the stock is owned by insiders.

Charles Schwab Trading Up 0.2%

SCHW stock traded up $0.13 during midday trading on Friday, hitting $87.44. 5,150,130 shares of the company's stock were exchanged, compared to its average volume of 9,379,148. The business has a 50-day simple moving average of $79.97 and a two-hundred day simple moving average of $78.95. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $158.88 billion, a PE ratio of 29.25, a P/E/G ratio of 0.99 and a beta of 0.90. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $89.85.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.03. The company had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same quarter last year, the firm earned $0.74 earnings per share. On average, sell-side analysts predict that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.24%. Charles Schwab's dividend payout ratio (DPR) is 32.73%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Citigroup upgraded Charles Schwab from a "neutral" rating to a "buy" rating and raised their target price for the company from $85.00 to $102.00 in a research report on Wednesday, April 2nd. Piper Sandler raised their target price on Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. Cowen restated a "buy" rating on shares of Charles Schwab in a research report on Tuesday. Wells Fargo & Company decreased their target price on Charles Schwab from $93.00 to $87.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, JMP Securities restated a "market outperform" rating and issued a $94.00 target price on shares of Charles Schwab in a research report on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $89.63.

Charles Schwab Company 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.