Concord Wealth Partners Decreases Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Concord Wealth Partners reduced its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 27.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,476 shares of the financial services provider’s stock after selling 1,320 shares during the period. Concord Wealth Partners’ holdings in Charles Schwab were worth $239,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SCHW. Essex Financial Services Inc. boosted its stake in shares of Charles Schwab by 2.7% in the fourth quarter. Essex Financial Services Inc. now owns 9,299 shares of the financial services provider’s stock valued at $640,000 after purchasing an additional 246 shares during the period. Cannell & Co. boosted its stake in shares of Charles Schwab by 5.4% in the fourth quarter. Cannell & Co. now owns 7,831 shares of the financial services provider’s stock valued at $539,000 after purchasing an additional 400 shares during the period. LCM Capital Management Inc purchased a new position in shares of Charles Schwab in the fourth quarter valued at $238,000. Mach 1 Financial Group LLC boosted its stake in shares of Charles Schwab by 17.5% in the fourth quarter. Mach 1 Financial Group LLC now owns 33,358 shares of the financial services provider’s stock valued at $2,295,000 after purchasing an additional 4,972 shares during the period. Finally, Savant Capital LLC boosted its stake in shares of Charles Schwab by 114.6% in the fourth quarter. Savant Capital LLC now owns 18,385 shares of the financial services provider’s stock valued at $1,265,000 after purchasing an additional 9,817 shares during the period. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SCHW has been the subject of several analyst reports. Piper Sandler upped their target price on shares of Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. TD Cowen upped their price target on shares of Charles Schwab from $87.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Citigroup upped their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Finally, Raymond James cut their price target on shares of Charles Schwab from $78.00 to $75.00 and set an “outperform” rating on the stock in a report on Thursday, January 18th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $74.47.

Charles Schwab Stock Up 0.8 %

Shares of NYSE:SCHW opened at $74.54 on Thursday. The stock has a market capitalization of $132.39 billion, a price-to-earnings ratio of 31.19, a price-to-earnings-growth ratio of 1.08 and a beta of 0.98. The Charles Schwab Co. has a 1-year low of $45.65 and a 1-year high of $75.55. The company’s fifty day moving average is $70.30 and its two-hundred day moving average is $64.40. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

Insiders Place Their Bets

In related news, Chairman Charles R. Schwab sold 71,226 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $64.99, for a total value of $4,628,977.74. Following the sale, the chairman now owns 61,251,038 shares of the company’s stock, valued at approximately $3,980,704,959.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Chairman Charles R. Schwab sold 71,226 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $64.99, for a total value of $4,628,977.74. Following the sale, the chairman now owns 61,251,038 shares of the company’s stock, valued at approximately $3,980,704,959.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Charles R. Schwab sold 89,275 shares of the stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.62, for a total transaction of $6,661,700.50. Following the completion of the sale, the chairman now directly owns 30,641,981 shares in the company, valued at approximately $2,286,504,622.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 514,459 shares of company stock valued at $36,371,155. Company insiders own 6.60% of the company’s stock.

Charles Schwab 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.