Eagle Ridge Investment Management Trims Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Eagle Ridge Investment Management lessened its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 355,624 shares of the financial services provider’s stock after selling 3,082 shares during the quarter. Charles Schwab comprises about 2.4% of Eagle Ridge Investment Management’s holdings, making the stock its 12th largest position. Eagle Ridge Investment Management’s holdings in Charles Schwab were worth $24,467,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Courier Capital LLC raised its position in Charles Schwab by 0.4% in the fourth quarter. Courier Capital LLC now owns 45,539 shares of the financial services provider’s stock valued at $3,133,000 after purchasing an additional 161 shares during the period. Sugarloaf Wealth Management LLC raised its position in Charles Schwab by 60.0% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 165 shares during the period. Red Spruce Capital LLC raised its position in Charles Schwab by 0.4% in the fourth quarter. Red Spruce Capital LLC now owns 41,855 shares of the financial services provider’s stock valued at $2,880,000 after purchasing an additional 172 shares during the period. Uncommon Cents Investing LLC raised its position in Charles Schwab by 1.2% in the fourth quarter. Uncommon Cents Investing LLC now owns 14,872 shares of the financial services provider’s stock valued at $1,023,000 after purchasing an additional 175 shares during the period. Finally, Diligent Investors LLC increased its position in shares of Charles Schwab by 3.0% during the fourth quarter. Diligent Investors LLC now owns 5,959 shares of the financial services provider’s stock worth $410,000 after acquiring an additional 176 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SCHW shares. Citigroup upped their price objective on Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Piper Sandler upped their price objective on Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Deutsche Bank Aktiengesellschaft upped their price objective on Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. JPMorgan Chase & Co. upped their price objective on Charles Schwab from $86.00 to $89.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Finally, JMP Securities reiterated a “market outperform” rating and set a $80.00 target price on shares of Charles Schwab in a research note on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $74.47.

Insider Activity

In other news, Chairman Charles R. Schwab sold 71,226 shares of the company’s 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 completion of the sale, the chairman now directly owns 61,251,038 shares of the company’s stock, valued at $3,980,704,959.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Charles R. Schwab sold 71,226 shares of the company’s 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 completion of the sale, the chairman now directly owns 61,251,038 shares of the company’s stock, valued at $3,980,704,959.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Peter B. Crawford sold 5,481 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $75.51, for a total transaction of $413,870.31. Following the transaction, the chief financial officer now directly owns 60,567 shares of the company’s stock, valued at $4,573,414.17. The disclosure for this sale can be found here. Over the last three months, insiders sold 394,648 shares of company stock valued at $27,400,905. Insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

NYSE SCHW traded down $0.17 during trading hours on Monday, hitting $74.82. The company had a trading volume of 3,013,578 shares, compared to its average volume of 7,672,756. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43. The Charles Schwab Co. has a 1-year low of $45.65 and a 1-year high of $75.55. The company has a market cap of $132.88 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. The business has a 50 day moving average of $69.68 and a 200-day moving average of $64.01.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a $0.25 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.00 annualized dividend and a yield of 1.34%. Charles Schwab’s dividend payout ratio is presently 41.84%.

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.