Ridgewood Investments LLC Lowers Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Ridgewood Investments LLC trimmed its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 30.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,888 shares of the financial services provider’s stock after selling 6,404 shares during the quarter. Ridgewood Investments LLC’s holdings in Charles Schwab were worth $1,102,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Benjamin Edwards Inc. raised its position in shares of Charles Schwab by 2,840.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after acquiring an additional 5,937 shares in the last quarter. Synovus Financial Corp raised its position in shares of Charles Schwab by 46.0% during the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after acquiring an additional 21,377 shares in the last quarter. Patten & Patten Inc. TN raised its position in shares of 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 worth $6,751,000 after acquiring an additional 63,463 shares in the last quarter. Equity Investment Corp raised its position in shares of Charles Schwab by 9.4% during the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock worth $106,299,000 after acquiring an additional 140,643 shares in the last quarter. Finally, Teewinot Capital Advisers L.L.C. raised its position in shares of Charles Schwab by 9.0% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Price Performance

SCHW traded up $0.32 during trading on Friday, reaching $73.32. 4,348,511 shares of the stock were exchanged, compared to its average volume of 7,247,302. The business’s 50 day moving average price is $77.53 and its two-hundred day moving average price is $70.65. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The company has a market capitalization of $130.48 billion, a price-to-earnings ratio of 28.64, a P/E/G ratio of 1.76 and a beta of 0.99. The Charles Schwab Co. has a 1 year low of $59.67 and a 1 year high of $83.35.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the business earned $0.77 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts anticipate that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.36%. Charles Schwab’s dividend payout ratio is currently 39.06%.

Insider Activity

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the company’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the completion of the sale, the director now directly owns 551,329 shares in the company, valued at $39,783,900.64. This represents a 5.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,481,838.69. This represents a 11.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 118,968 shares of company stock worth $8,842,821 over the last three months. 6.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SCHW. Bank of America cut their target price on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 16th. Barclays upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $74.00 to $95.00 in a research note on Monday, December 9th. Truist Financial upgraded Charles Schwab to a “strong-buy” rating in a research note on Monday. The Goldman Sachs Group raised their price target on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Finally, StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.19.

Charles Schwab 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.