Marcum Wealth LLC Acquires 423 Shares of The Charles Schwab Co. (NYSE:SCHW)

Marcum Wealth LLC lifted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 4.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 9,595 shares of the financial services provider’s stock after buying an additional 423 shares during the period. Marcum Wealth LLC’s holdings in Charles Schwab were worth $707,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in SCHW. Frazier Financial Advisors LLC bought a new stake in Charles Schwab in the 4th quarter valued at about $30,000. Wetzel Investment Advisors Inc. bought a new stake in Charles Schwab in the 4th quarter valued at about $31,000. Tributary Capital Management LLC acquired a new position in Charles Schwab during the 1st quarter valued at about $31,000. Partnership Wealth Management LLC acquired a new position in Charles Schwab during the 4th quarter valued at about $41,000. Finally, Costello Asset Management INC boosted its stake in Charles Schwab by 916.7% during the 4th quarter. Costello Asset Management INC now owns 610 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 550 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on SCHW shares. Morgan Stanley cut their price target on Charles Schwab from $73.00 to $71.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. TD Cowen reiterated a “hold” rating and issued a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Jefferies Financial Group upped their price objective on Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 8th. JPMorgan Chase & Co. dropped their price objective on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Finally, Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $80.00 to $64.00 in a research note on Monday, July 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and an average target price of $74.27.

Charles Schwab Price Performance

SCHW traded down $1.10 during trading on Monday, reaching $62.29. The stock had a trading volume of 7,864,901 shares, compared to its average volume of 8,039,061. The stock has a market cap of $110.71 billion, a PE ratio of 26.06, a PEG ratio of 1.19 and a beta of 0.99. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49. The business has a 50-day moving average of $70.99 and a 200-day moving average of $70.05.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.65%. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. During the same period in the prior year, the business posted $0.75 earnings per share. The company’s revenue was up .7% on a year-over-year basis. As a group, equities research analysts anticipate that The Charles Schwab Co. will post 3.09 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.61%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Insider Transactions at Charles Schwab

In related news, Chairman Charles R. Schwab sold 67,386 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Charles Schwab news, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the completion of the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bernard J. Clark sold 77,431 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total transaction of $5,492,955.14. Following the transaction, the insider now directly owns 121,666 shares of the company’s stock, valued at approximately $8,630,986.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 273,586 shares of company stock worth $19,570,869. Company 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.