Murphy & Mullick Capital Management Corp Buys New Stake in The Charles Schwab Co. (NYSE:SCHW)

Murphy & Mullick Capital Management Corp purchased a new position in shares of The Charles Schwab Co. (NYSE:SCHW) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 512 shares of the financial services provider’s stock, valued at approximately $38,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in Charles Schwab by 0.6% in the third quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider’s stock valued at $432,536,000 after acquiring an additional 38,201 shares in the last quarter. United Bank boosted its position in shares of Charles Schwab by 13.0% in the 3rd quarter. United Bank now owns 11,352 shares of the financial services provider’s stock valued at $736,000 after purchasing an additional 1,309 shares during the period. Kingsview Wealth Management LLC grew its stake in Charles Schwab by 7.6% during the 3rd quarter. Kingsview Wealth Management LLC now owns 6,747 shares of the financial services provider’s stock worth $437,000 after buying an additional 477 shares during the last quarter. Bridgewater Associates LP acquired a new position in Charles Schwab during the third quarter worth approximately $1,754,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Charles Schwab by 3.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 541,079 shares of the financial services provider’s stock valued at $35,067,000 after buying an additional 20,066 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $94.00 target price (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. 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. Jefferies Financial Group increased their target price on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and boosted their price target for the company from $88.00 to $103.00 in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lifted their target price on Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Charles Schwab presently has an average rating of “Hold” and an average price target of $86.33.

Charles Schwab Stock Down 0.6 %

Charles Schwab stock opened at $79.63 on Friday. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50. The firm has a market capitalization of $144.42 billion, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The stock’s fifty day moving average is $79.52 and its two-hundred day moving average is $75.17. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data 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 business had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the firm earned $0.68 EPS. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. Analysts predict that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.36%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. Charles Schwab’s dividend payout ratio (DPR) is 36.12%.

Insider Buying and Selling

In related news, Director Arun Sarin sold 8,548 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the transaction, the director now owns 18,617 shares of the company’s stock, valued at approximately $1,523,242.94. This represents a 31.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction that occurred 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 $67,770,450.07. The trade was a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 509,701 shares of company stock worth $41,641,353 in the last ninety days. Insiders own 6.60% 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.