Prentiss Smith & Co. Inc. Lowers Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Prentiss Smith & Co. Inc. trimmed its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,171 shares of the financial services provider’s stock after selling 1,634 shares during the quarter. Charles Schwab accounts for approximately 3.0% of Prentiss Smith & Co. Inc.’s investment portfolio, making the stock its 15th biggest position. Prentiss Smith & Co. Inc.’s holdings in Charles Schwab were worth $4,071,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Courier Capital LLC boosted its stake in shares of Charles Schwab by 0.4% in the 4th quarter. Courier Capital LLC now owns 45,539 shares of the financial services provider’s stock valued at $3,133,000 after buying an additional 161 shares during the period. Sugarloaf Wealth Management LLC raised its position in shares of Charles Schwab by 60.0% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 165 shares in the last quarter. Red Spruce Capital LLC raised its position in shares of Charles Schwab by 0.4% during the 4th quarter. Red Spruce Capital LLC now owns 41,855 shares of the financial services provider’s stock worth $2,880,000 after acquiring an additional 172 shares in the last quarter. Uncommon Cents Investing LLC raised its position in shares of Charles Schwab by 1.2% during the 4th quarter. Uncommon Cents Investing LLC now owns 14,872 shares of the financial services provider’s stock worth $1,023,000 after acquiring an additional 175 shares in the last quarter. Finally, Diligent Investors LLC raised its position in shares of Charles Schwab by 3.0% during the 4th quarter. Diligent Investors LLC now owns 5,959 shares of the financial services provider’s stock worth $410,000 after acquiring an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several research analyst reports. Piper Sandler lifted their price target on Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods lifted their price target on Charles Schwab from $75.00 to $76.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 16th. Citigroup lifted their price target on Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. lifted their price target on Charles Schwab from $86.00 to $89.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Finally, TD Cowen lifted their price target on Charles Schwab from $87.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $74.47.

Insiders Place Their Bets

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $38,198,371.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Charles R. Schwab sold 58,500 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $64.60, for a total value of $3,779,100.00. Following the completion of the sale, the chairman now owns 61,192,538 shares of the company’s stock, valued at $3,953,037,954.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $65.29, for a total value 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 disclosure for this sale can be found here. Insiders sold 389,167 shares of company stock worth $26,987,035 over the last three months. 6.60% of the stock is owned by insiders.

Charles Schwab Trading Down 0.4 %

Charles Schwab stock traded down $0.33 during trading on Thursday, hitting $74.86. The company’s stock had a trading volume of 6,374,160 shares, compared to its average volume of 7,758,854. The stock has a market capitalization of $132.96 billion, a price-to-earnings ratio of 31.33, a P/E/G ratio of 1.10 and a beta of 1.01. The stock’s fifty day moving average is $69.27 and its 200 day moving average is $63.60. The Charles Schwab Co. has a 1-year low of $45.65 and a 1-year high of $75.55. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.00 annualized dividend and a yield of 1.34%. 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.