abrdn plc Trims Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

abrdn plc trimmed its holdings in The Charles Schwab Co. (NYSE:SCHW) by 55.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,684,410 shares of the financial services provider’s stock after selling 2,108,580 shares during the quarter. abrdn plc’s holdings in Charles Schwab were worth $115,887,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA raised its holdings in shares of Charles Schwab by 26.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock worth $1,634,700,000 after buying an additional 6,195,934 shares during the period. Geode Capital Management LLC increased its holdings in Charles Schwab by 1.5% during the 1st quarter. Geode Capital Management LLC now owns 27,050,168 shares of the financial services provider’s stock worth $1,413,244,000 after purchasing an additional 391,238 shares during the period. Morgan Stanley increased its holdings in Charles Schwab by 62.5% during the 4th quarter. Morgan Stanley now owns 22,255,649 shares of the financial services provider’s stock worth $1,853,005,000 after purchasing an additional 8,563,389 shares during the period. Norges Bank purchased a new position in Charles Schwab during the 4th quarter worth $1,325,555,000. Finally, Invesco Ltd. increased its holdings in Charles Schwab by 3.3% during the 3rd quarter. Invesco Ltd. now owns 15,560,924 shares of the financial services provider’s stock worth $854,295,000 after purchasing an additional 502,304 shares during the period. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on SCHW. Bank of America raised their price objective on Charles Schwab from $68.00 to $70.00 and gave the stock an “underperform” rating in a report on Tuesday, April 16th. JMP Securities restated a “market outperform” rating and set a $80.00 price objective on shares of Charles Schwab in a report on Tuesday, April 16th. TD Cowen raised their price objective on Charles Schwab from $87.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Piper Sandler increased their target price on Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Finally, StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $74.47.

Insiders Place Their Bets

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab 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 owns 585,057 shares of the company’s stock, valued at approximately $38,198,371.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab 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 owns 585,057 shares of the company’s stock, valued at approximately $38,198,371.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Peter B. Crawford sold 5,482 shares of Charles Schwab stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $73.46, for a total value of $402,707.72. Following the sale, the chief financial officer now directly owns 60,567 shares of the company’s stock, valued at approximately $4,449,251.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 312,800 shares of company stock valued at $21,081,569. 6.60% of the stock is owned by company insiders.

Charles Schwab Stock Up 0.7 %

Charles Schwab stock opened at $73.42 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $130.40 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 1.07 and a beta of 1.01. The Charles Schwab Co. has a 1-year low of $45.65 and a 1-year high of $73.88. The business has a fifty day moving average price of $68.58 and a 200-day moving average price of $63.11.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Charles Schwab had a return on equity of 19.86% and a net margin of 26.14%. The business’s quarterly revenue was down 18.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.07 EPS. Equities research analysts forecast that The Charles Schwab Co. will post 3.42 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.36%. Charles Schwab’s dividend payout ratio is currently 41.84%.

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.