The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Laird Norton Wetherby Wealth Management LLC

Laird Norton Wetherby Wealth Management LLC lowered its stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 27.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,366 shares of the financial services provider's stock after selling 23,915 shares during the quarter. Laird Norton Wetherby Wealth Management LLC's holdings in Charles Schwab were worth $4,690,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Charles Schwab during the 4th quarter valued at approximately $1,289,544,000. Kovitz Investment Group Partners LLC lifted its holdings in Charles Schwab by 354.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider's stock valued at $814,545,000 after purchasing an additional 8,584,173 shares in the last quarter. FMR LLC lifted its position in Charles Schwab by 69.4% during the fourth quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock valued at $717,898,000 after buying an additional 3,974,940 shares in the last quarter. Marshall Wace LLP raised its holdings in Charles Schwab by 742.0% in the fourth quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider's stock valued at $309,451,000 after acquiring an additional 3,684,640 shares in the last quarter. Finally, Primecap Management Co. CA increased its position in Charles Schwab by 310.3% in the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider's stock worth $314,716,000 after buying an additional 3,216,000 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SCHW shares. Citigroup upgraded Charles Schwab from a "neutral" rating to a "buy" rating and upped their target price for the company from $85.00 to $102.00 in a report on Wednesday, April 2nd. Piper Sandler raised their price target on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. The Goldman Sachs Group raised Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research note on Friday, April 25th. Keefe, Bruyette & Woods boosted their price objective on Charles Schwab from $90.00 to $93.00 and gave the company an "outperform" rating in a report on Tuesday, April 22nd. Finally, Redburn Partners cut their price target on Charles Schwab from $70.00 to $68.00 and set a "sell" rating for the company in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Charles Schwab has a consensus rating of "Moderate Buy" and a consensus price target of $88.33.

Charles Schwab Stock Performance

Charles Schwab stock traded up $0.61 on Friday, reaching $88.72. 6,562,751 shares of the stock were exchanged, compared to its average volume of 9,430,706. The firm has a fifty day moving average price of $78.76 and a two-hundred day moving average price of $78.36. 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 cap of $160.89 billion, a PE ratio of 29.67, a PEG ratio of 0.99 and a beta of 0.90. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $88.87.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.03. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.46 billion. During the same period in the prior year, the business posted $0.74 EPS. Sell-side analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a yield of 1.22%. Charles Schwab's dividend payout ratio is currently 32.73%.

Insider Activity

In other news, insider Paul V. Woolway sold 3,380 shares of Charles Schwab stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $79.32, for a total transaction of $268,101.60. Following the sale, the insider now owns 57,818 shares in the company, valued at $4,586,123.76. This trade represents a 5.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Frank C. Herringer sold 3,592 shares of the company's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $74.26, for a total value of $266,741.92. Following the completion of the transaction, the director now directly owns 172,162 shares in the company, valued at $12,784,750.12. This trade represents a 2.04% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,412 shares of company stock valued at $3,014,797. Company insiders own 6.30% of the company's stock.

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.