Arkadios Wealth Advisors Acquires 6,738 Shares of The Charles Schwab Corporation $SCHW

Arkadios Wealth Advisors raised its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 11.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 64,520 shares of the financial services provider’s stock after purchasing an additional 6,738 shares during the period. Arkadios Wealth Advisors’ holdings in Charles Schwab were worth $6,160,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SCHW. Turtle Creek Wealth Advisors LLC grew its holdings in shares of Charles Schwab by 48.2% in the third quarter. Turtle Creek Wealth Advisors LLC now owns 7,799 shares of the financial services provider’s stock valued at $745,000 after acquiring an additional 2,536 shares in the last quarter. Whelan Financial lifted its holdings in Charles Schwab by 80.0% during the third quarter. Whelan Financial now owns 14,007 shares of the financial services provider’s stock worth $1,337,000 after acquiring an additional 6,226 shares during the period. Mizuho Markets Americas LLC purchased a new position in Charles Schwab in the third quarter worth $1,002,000. Allstate Corp grew its stake in Charles Schwab by 1,643.1% in the 3rd quarter. Allstate Corp now owns 63,030 shares of the financial services provider’s stock valued at $6,017,000 after purchasing an additional 59,414 shares during the period. Finally, NorthCrest Asset Manangement LLC grew its stake in Charles Schwab by 9.3% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 19,058 shares of the financial services provider’s stock valued at $1,792,000 after purchasing an additional 1,628 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,000 shares of Charles Schwab stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $102.01, for a total transaction of $204,020.00. Following the completion of the sale, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,216,265.23. The trade was a 14.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 6.30% of the company’s stock.

Charles Schwab Stock Down 2.7%

Shares of NYSE SCHW opened at $100.98 on Wednesday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average of $97.42 and a 200-day moving average of $95.70. The firm has a market capitalization of $179.44 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 0.71 and a beta of 0.94. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $104.98.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio is presently 25.29%.

Analyst Upgrades and Downgrades

Several brokerages have commented on SCHW. Bank of America lifted their price objective on shares of Charles Schwab from $88.00 to $91.00 and gave the stock an “underperform” rating in a research report on Wednesday, December 10th. Barclays raised their price target on shares of Charles Schwab from $111.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday, October 8th. Piper Sandler increased their price objective on Charles Schwab from $100.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $114.45.

About Charles Schwab

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.