Forte Capital LLC ADV Sells 597 Shares of The Charles Schwab Co. (NYSE:SCHW)

Forte Capital LLC ADV lessened its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 14.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,476 shares of the financial services provider’s stock after selling 597 shares during the period. Forte Capital LLC ADV’s holdings in Charles Schwab were worth $239,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its holdings in shares of Charles Schwab by 26.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock worth $1,634,700,000 after buying an additional 6,195,934 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Charles Schwab by 1.6% during the fourth quarter. Fisher Asset Management LLC now owns 18,627,667 shares of the financial services provider’s stock valued at $1,281,584,000 after acquiring an additional 296,317 shares during the last quarter. Invesco Ltd. increased its position in shares of Charles Schwab by 3.3% during the third quarter. Invesco Ltd. now owns 15,560,924 shares of the financial services provider’s stock valued at $854,295,000 after buying an additional 502,304 shares during the period. Northern Trust Corp raised its position in shares of Charles Schwab by 2.3% in the 3rd quarter. Northern Trust Corp now owns 15,550,474 shares of the financial services provider’s stock worth $853,721,000 after acquiring an additional 356,112 shares in the last quarter. Finally, Bamco Inc. NY boosted its position in shares of Charles Schwab by 0.5% during the third quarter. Bamco Inc. NY now owns 8,102,475 shares of the financial services provider’s stock valued at $444,826,000 after purchasing an additional 42,588 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $65.29, for a total transaction of $587,610.00. Following the completion of the sale, the director now directly owns 585,057 shares of the company’s stock, valued at approximately $38,198,371.53. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $65.29, for a total transaction of $587,610.00. Following the transaction, the director now directly owns 585,057 shares in the company, valued at approximately $38,198,371.53. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Peter J. Morgan III sold 24,520 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $72.23, for a total transaction of $1,771,079.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 514,459 shares of company stock worth $36,371,155. Company insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of recent research reports. Barclays upped their target price on shares of Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 price objective on shares of Charles Schwab in a report on Tuesday, April 16th. Morgan Stanley lifted their price target on shares of Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft increased their price target on Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Finally, Piper Sandler lifted their price objective on shares of Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $74.47.

Charles Schwab Trading Up 0.9 %

SCHW stock traded up $0.71 during trading on Friday, hitting $76.04. The company had a trading volume of 5,414,735 shares, compared to its average volume of 7,577,556. The firm has a market capitalization of $135.05 billion, a P/E ratio of 31.82, a PEG ratio of 1.10 and a beta of 0.98. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82. The Charles Schwab Co. has a 52-week low of $45.65 and a 52-week high of $76.47. The company has a 50 day simple moving average of $70.75 and a 200-day simple moving average of $64.63.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Thursday, May 9th. Charles Schwab’s dividend payout ratio is presently 41.84%.

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.