Linscomb Wealth Inc. Purchases 338 Shares of The Charles Schwab Co. (NYSE:SCHW)

Linscomb Wealth Inc. raised its position in The Charles Schwab Co. (NYSE:SCHW) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,096 shares of the financial services provider’s stock after buying an additional 338 shares during the quarter. Linscomb Wealth Inc.’s holdings in Charles Schwab were worth $2,469,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SCHW. Kingsview Wealth Management LLC grew its holdings in Charles Schwab by 26.3% during the 1st quarter. Kingsview Wealth Management LLC now owns 6,245 shares of the financial services provider’s stock worth $452,000 after acquiring an additional 1,302 shares during the last quarter. M&G Plc acquired a new position in shares of Charles Schwab during the 1st quarter valued at $11,452,000. Pinnacle Wealth Planning Services Inc. increased its stake in Charles Schwab by 4.4% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,983 shares of the financial services provider’s stock valued at $360,000 after purchasing an additional 211 shares in the last quarter. Allstate Corp increased its stake in Charles Schwab by 5.0% during the 1st quarter. Allstate Corp now owns 4,521 shares of the financial services provider’s stock valued at $327,000 after purchasing an additional 214 shares in the last quarter. Finally, Patten & Patten Inc. TN increased its stake in Charles Schwab by 9.8% during the 1st quarter. Patten & Patten Inc. TN now owns 40,270 shares of the financial services provider’s stock valued at $2,913,000 after purchasing an additional 3,610 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Trading Up 0.6 %

Shares of Charles Schwab stock opened at $80.64 on Friday. The Charles Schwab Co. has a 1 year low of $55.09 and a 1 year high of $82.50. The firm has a market cap of $143.51 billion, a PE ratio of 31.50, a PEG ratio of 1.71 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.42. The company has a 50 day simple moving average of $68.74 and a two-hundred day simple moving average of $69.66.

Charles Schwab (NYSE:SCHW) last announced its earnings results 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 net margin of 27.47% and a return on equity of 16.92%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the business posted $0.77 earnings per share. Charles Schwab’s revenue for the quarter was up 5.2% on a year-over-year basis. Analysts expect that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,500 shares of Charles Schwab stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This trade represents a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the transaction, the director now directly owns 554,929 shares in the company, valued at $35,543,202.45. This trade represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 103,645 shares of company stock valued at $7,440,627. 6.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on SCHW. The Goldman Sachs Group upped their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Piper Sandler increased their price target on shares of Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price objective on shares of Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Citigroup dropped their price objective on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, September 27th. Finally, Cowen upped their price objective on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab has an average rating of “Hold” and an average target price of $74.18.

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.