Charles Schwab (NYSE:SCHW) Trading 0.3% Higher Following Dividend Announcement

The Charles Schwab Co. (NYSE:SCHW)’s stock price shot up 0.3% during trading on Wednesday after the company announced a dividend. The company traded as high as $75.49 and last traded at $75.43. 1,134,128 shares traded hands during trading, a decline of 85% from the average session volume of 7,712,198 shares. The stock had previously closed at $75.23.

The newly announced 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 annualized dividend and a dividend yield of 1.33%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Analyst Upgrades and Downgrades

SCHW has been the topic of a number of research reports. Raymond James reduced their target price on shares of Charles Schwab from $78.00 to $75.00 and set an “outperform” rating on the stock in a report on Thursday, January 18th. Piper Sandler increased their target price on shares of Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. JMP Securities reiterated a “market outperform” rating and set a $80.00 price target on shares of Charles Schwab in a research note on Tuesday, April 16th. Finally, Citigroup boosted their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and an average target price of $74.47.

Charles Schwab Stock Down 0.0 %

The company has a market cap of $133.56 billion, a PE ratio of 31.46, a P/E/G ratio of 1.09 and a beta of 1.01. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82. The firm’s fifty day simple moving average is $69.27 and its 200-day simple moving average is $63.60.

Insider Buying and Selling at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $65.29, for a total value of $587,610.00. Following the completion of the transaction, the director now owns 585,057 shares of the company’s stock, valued at $38,198,371.53. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $65.29, for a total value of $587,610.00. Following the completion of the transaction, the director now owns 585,057 shares of the company’s stock, valued at $38,198,371.53. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Charles R. Schwab sold 71,226 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $64.99, for a total transaction of $4,628,977.74. Following the completion of the transaction, the chairman now directly owns 61,251,038 shares of the company’s stock, valued at approximately $3,980,704,959.62. The disclosure for this sale can be found here. Insiders have sold 389,167 shares of company stock valued at $26,987,035 over the last quarter. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Investment Advisors LLC increased its position in shares of Charles Schwab by 5.1% in the third quarter. Capital Investment Advisors LLC now owns 5,239 shares of the financial services provider’s stock worth $288,000 after acquiring an additional 256 shares in the last quarter. Cedar Brook Financial Partners LLC increased its position in shares of Charles Schwab by 10.8% in the third quarter. Cedar Brook Financial Partners LLC now owns 4,128 shares of the financial services provider’s stock worth $227,000 after acquiring an additional 403 shares in the last quarter. Meridian Wealth Management LLC increased its position in shares of Charles Schwab by 109.3% in the third quarter. Meridian Wealth Management LLC now owns 13,470 shares of the financial services provider’s stock worth $739,000 after acquiring an additional 7,034 shares in the last quarter. Strategic Blueprint LLC increased its position in shares of Charles Schwab by 3.5% in the third quarter. Strategic Blueprint LLC now owns 9,423 shares of the financial services provider’s stock worth $517,000 after acquiring an additional 320 shares in the last quarter. Finally, CX Institutional increased its position in shares of Charles Schwab by 9.5% in the third quarter. CX Institutional now owns 9,953 shares of the financial services provider’s stock worth $546,000 after acquiring an additional 866 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

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.