Finer Wealth Management Inc. Buys 1,883 Shares of The Charles Schwab Co. (NYSE:SCHW)

Finer Wealth Management Inc. lifted its position in The Charles Schwab Co. (NYSE:SCHW) by 6.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 29,056 shares of the financial services provider’s stock after acquiring an additional 1,883 shares during the quarter. Charles Schwab comprises approximately 1.2% of Finer Wealth Management Inc.’s portfolio, making the stock its 25th largest holding. Finer Wealth Management Inc.’s holdings in Charles Schwab were worth $2,150,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Stenger Family Office LLC bought a new stake in shares of Charles Schwab during the 4th quarter worth $1,318,000. Gabelli Funds LLC raised its position in Charles Schwab by 0.3% in the fourth quarter. Gabelli Funds LLC now owns 61,237 shares of the financial services provider’s stock worth $4,532,000 after acquiring an additional 162 shares during the period. Montag & Caldwell LLC grew its position in shares of Charles Schwab by 8.0% during the 4th quarter. Montag & Caldwell LLC now owns 161,743 shares of the financial services provider’s stock valued at $11,971,000 after acquiring an additional 11,916 shares during the period. Lafayette Investments Inc. increased its stake in shares of Charles Schwab by 0.5% during the 4th quarter. Lafayette Investments Inc. now owns 98,230 shares of the financial services provider’s stock worth $7,270,000 after purchasing an additional 480 shares during the last quarter. Finally, Dagco Inc. raised its holdings in shares of Charles Schwab by 7.5% in the 4th quarter. Dagco Inc. now owns 5,375 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 375 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the transaction, the chairman now directly owns 827,377 shares of the company’s stock, valued at $67,770,450.07. The trade was a 35.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arun Sarin sold 8,548 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the sale, the director now owns 18,617 shares of the company’s stock, valued at $1,523,242.94. The trade was a 31.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 513,081 shares of company stock valued at $41,903,066 over the last three months. Insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and boosted their price objective for the company from $88.00 to $103.00 in a research note on Tuesday, February 18th. Truist Financial cut their target price on shares of Charles Schwab from $91.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Morgan Stanley raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and set a $76.00 price target on the stock in a research report on Tuesday, April 8th. Finally, JMP Securities cut their price objective on shares of Charles Schwab from $96.00 to $94.00 and set a “market outperform” rating for the company in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.33.

Charles Schwab Trading Up 0.3 %

Shares of SCHW stock opened at $77.15 on Wednesday. The business has a 50-day moving average price of $77.54 and a two-hundred day moving average price of $76.32. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a market cap of $139.92 billion, a P/E ratio of 25.80, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the company posted $0.68 EPS. Charles Schwab’s quarterly revenue was up 19.5% compared to the same quarter last year. Equities analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.40%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

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.