Garrison Bradford & Associates Inc. Sells 336 Shares of The Charles Schwab Co. (NYSE:SCHW)

Garrison Bradford & Associates Inc. lowered its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,269 shares of the financial services provider’s stock after selling 336 shares during the period. Charles Schwab makes up 1.9% of Garrison Bradford & Associates Inc.’s investment portfolio, making the stock its 15th largest holding. Garrison Bradford & Associates Inc.’s holdings in Charles Schwab were worth $1,796,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Franklin Resources Inc. lifted its stake in shares of Charles Schwab by 15.0% in the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after buying an additional 3,157,923 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Charles Schwab in the fourth quarter worth approximately $189,791,000. Veritas Asset Management LLP bought a new position in Charles Schwab during the fourth quarter valued at approximately $185,649,000. Massachusetts Financial Services Co. MA lifted its position in Charles Schwab by 6.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after purchasing an additional 1,711,312 shares during the period. Finally, KBC Group NV lifted its position in Charles Schwab by 186.7% during the fourth quarter. KBC Group NV now owns 2,138,033 shares of the financial services provider’s stock valued at $158,236,000 after purchasing an additional 1,392,255 shares during the period. Institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on SCHW shares. Jefferies Financial Group upped their target price on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a report on Monday, December 9th. JPMorgan Chase & Co. upped their target price on shares of Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Piper Sandler upped their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Citigroup increased their price objective on shares of Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $89.00 to $93.00 in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $86.33.

Charles Schwab Price Performance

Charles Schwab stock opened at $74.58 on Friday. The firm has a market capitalization of $135.25 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50. The firm has a 50-day moving average price of $78.50 and a 200-day moving average price of $73.99. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the firm posted $0.68 EPS. The firm’s revenue was up 19.5% compared to the same quarter last year. As a group, equities research analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.45%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. Charles Schwab’s payout ratio is presently 36.12%.

Insider Activity at Charles Schwab

In related news, Director Arun Sarin sold 8,548 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the sale, the director now owns 18,617 shares of the company’s stock, valued at approximately $1,523,242.94. The trade was a 31.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the sale, the chairman now directly owns 827,377 shares of the company’s stock, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 501,087 shares of company stock worth $40,952,233 in the last three months. Company insiders own 6.60% of the company’s stock.

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.