7,713 Shares in The Charles Schwab Co. (NYSE:SCHW) Bought by Lyell Wealth Management LP

Lyell Wealth Management LP bought a new position in shares of The Charles Schwab Co. (NYSE:SCHW) in the fourth quarter, HoldingsChannel reports. The firm bought 7,713 shares of the financial services provider’s stock, valued at approximately $531,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Courier Capital LLC raised its stake in Charles Schwab by 0.4% during 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 in the last quarter. Sugarloaf Wealth Management LLC raised its stake in shares of 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 acquiring an additional 165 shares during the period. Red Spruce Capital LLC raised its stake in shares of 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 acquiring an additional 172 shares during the period. Uncommon Cents Investing LLC raised its stake in shares of 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 acquiring an additional 175 shares during the period. Finally, Diligent Investors LLC raised its stake in shares of Charles Schwab by 3.0% in the fourth quarter. Diligent Investors LLC now owns 5,959 shares of the financial services provider’s stock valued at $410,000 after acquiring an additional 176 shares during the period. Institutional investors own 84.38% of the company’s stock.

Insider Activity

In related news, General Counsel Peter J. Morgan III sold 24,520 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $72.23, for a total value of $1,771,079.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Charles Schwab news, Chairman Charles R. Schwab sold 89,275 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $74.62, for a total transaction of $6,661,700.50. Following the completion of the transaction, the chairman now directly owns 30,641,981 shares of the company’s stock, valued at approximately $2,286,504,622.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Peter J. Morgan III sold 24,520 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $72.23, for a total transaction of $1,771,079.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 389,167 shares of company stock worth $26,987,035. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Stock Down 0.4 %

Shares of NYSE:SCHW traded down $0.33 during trading on Thursday, reaching $74.86. The stock had a trading volume of 4,408,981 shares, compared to its average volume of 7,727,873. The Charles Schwab Co. has a one year low of $45.65 and a one year high of $75.55. The company has a market capitalization of $132.96 billion, a P/E ratio of 31.14, a PEG ratio of 1.10 and a beta of 1.01. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82. The firm’s 50-day simple moving average is $69.27 and its 200 day simple moving average is $63.60.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Barclays upped their price target on shares of Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Friday, March 15th. TD Cowen upped their price target on shares of Charles Schwab from $87.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Finally, Bank of America upped their price target on shares of Charles Schwab from $68.00 to $70.00 and gave the stock an “underperform” rating in a report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $74.47.

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.