The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Investment Research & Advisory Group Inc.

Investment Research & Advisory Group Inc. reduced its position in The Charles Schwab Co. (NYSE:SCHW) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,931 shares of the financial services provider’s stock after selling 405 shares during the quarter. Charles Schwab comprises approximately 1.4% of Investment Research & Advisory Group Inc.’s portfolio, making the stock its 15th biggest position. Investment Research & Advisory Group Inc.’s holdings in Charles Schwab were worth $4,732,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SCHW. Merit Financial Group LLC lifted its holdings in shares of Charles Schwab by 230.1% during the fourth quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock worth $2,483,000 after purchasing an additional 23,383 shares during the period. Benjamin Edwards Inc. lifted its stake in shares of Charles Schwab by 2,840.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after acquiring an additional 5,937 shares during the period. Synovus Financial Corp boosted its holdings in shares of Charles Schwab by 46.0% in the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after acquiring an additional 21,377 shares in the last quarter. Patten & Patten Inc. TN increased its stake in shares of Charles Schwab by 155.9% during the third quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock worth $6,751,000 after acquiring an additional 63,463 shares during the period. Finally, Equity Investment Corp raised its holdings in Charles Schwab by 9.4% during the third quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock worth $106,299,000 after purchasing an additional 140,643 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SCHW. Raymond James decreased their target price on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Piper Sandler upped their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Morgan Stanley upped their price target on Charles Schwab from $74.00 to $84.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Charles Schwab currently has an average rating of “Hold” and an average price target of $83.83.

Insider Activity

In related news, Director Christopher V. Dodds sold 9,284 shares of Charles Schwab stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $81.43, for a total value of $755,996.12. Following the completion of the transaction, the director now directly owns 442,807 shares in the company, valued at approximately $36,057,774.01. This trade represents a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the sale, the insider now owns 18,069 shares in the company, valued at $1,391,674.38. The trade was a 12.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,466 shares of company stock worth $3,352,884 over the last ninety days. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $81.67 on Friday. The company’s fifty day simple moving average is $77.81 and its 200-day simple moving average is $70.88. 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 Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $83.35. The company has a market cap of $145.34 billion, a PE ratio of 27.31, a P/E/G ratio of 1.46 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5,190,822.51 billion. During the same period in the previous year, the company posted $0.68 EPS. Charles Schwab’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, equities research analysts anticipate that The Charles Schwab Co. will post 4.09 EPS for the current year.

About Charles Schwab

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.