Highline Wealth Partners LLC Trims Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Highline Wealth Partners LLC lowered its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 9.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,024 shares of the financial services provider’s stock after selling 306 shares during the quarter. Highline Wealth Partners LLC’s holdings in Charles Schwab were worth $224,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Benjamin Edwards Inc. increased its stake in shares of Charles Schwab by 2,840.7% during the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 5,937 shares in the last quarter. Synovus Financial Corp grew its stake in shares of Charles Schwab by 46.0% in the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after buying an additional 21,377 shares during the last quarter. Patten & Patten Inc. TN increased its position in Charles Schwab by 155.9% during the 3rd quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock valued at $6,751,000 after buying an additional 63,463 shares in the last quarter. Equity Investment Corp raised its stake 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 valued at $106,299,000 after buying an additional 140,643 shares during the last quarter. Finally, Teewinot Capital Advisers L.L.C. grew its stake in shares of Charles Schwab by 9.0% in the second quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after acquiring an additional 64,041 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Charles Schwab stock traded down $0.16 during mid-day trading on Friday, reaching $72.84. 6,113,898 shares of the company’s stock traded hands, compared to its average volume of 7,626,395. The Charles Schwab Co. has a 12-month low of $59.67 and a 12-month high of $83.35. 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 stock has a 50 day moving average of $77.53 and a two-hundred day moving average of $70.65. The company has a market cap of $129.63 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 1.76 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the firm earned $0.77 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities analysts forecast that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.37%. Charles Schwab’s dividend payout ratio is presently 39.06%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SCHW. Piper Sandler upped their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Cowen upped their price objective on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. lifted their target price on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.19.

Insider Activity at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $72.16, for a total value of $2,150,368.00. Following the transaction, the director now owns 551,329 shares of the company’s stock, valued at $39,783,900.64. This represents a 5.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 118,968 shares of company stock worth $8,842,821. Insiders own 6.60% of the company’s stock.

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.