Meridian Wealth Management LLC Makes New $636,000 Investment in The Charles Schwab Co. (NYSE:SCHW)

Meridian Wealth Management LLC acquired a new position in shares of The Charles Schwab Co. (NYSE:SCHW) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 9,815 shares of the financial services provider’s stock, valued at approximately $636,000.

A number of other hedge funds have also recently added to or reduced their stakes in SCHW. Alliance Wealth Advisors LLC boosted its holdings in shares of Charles Schwab by 2.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 142 shares in the last quarter. GS Investments Inc. boosted its holdings in shares of Charles Schwab by 0.3% in the 3rd quarter. GS Investments Inc. now owns 57,434 shares of the financial services provider’s stock valued at $3,722,000 after purchasing an additional 146 shares in the last quarter. Washington Trust Advisors Inc. boosted its holdings in shares of Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 149 shares in the last quarter. Arcataur Capital Management LLC boosted its holdings in shares of Charles Schwab by 2.3% in the 3rd quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock valued at $431,000 after purchasing an additional 150 shares in the last quarter. Finally, Tandem Capital Management Corp ADV boosted its holdings in shares of Charles Schwab by 0.3% in the 3rd quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider’s stock valued at $3,210,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Analyst Ratings Changes

SCHW has been the topic of several recent research reports. JMP Securities raised their price objective on Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company raised their price objective on Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Bank of America cut their price objective on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their price objective on Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Raymond James cut their price objective on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Charles Schwab has a consensus rating of “Hold” and a consensus price target of $74.18.

Insider Activity

In related news, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was 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 represents a 12.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the transaction, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 112,929 shares of company stock valued at $8,196,624 in the last ninety days. 6.60% of the stock is owned by company insiders.

Charles Schwab Stock Up 0.6 %

Shares of NYSE:SCHW opened at $81.26 on Monday. The company has a market capitalization of $144.62 billion, a price-to-earnings ratio of 31.74, a P/E/G ratio of 1.75 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 0.47. The business’s 50-day moving average is $70.55 and its 200-day moving average is $69.76. The Charles Schwab Co. has a 1 year low of $55.59 and a 1 year high of $82.50.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 EPS. Equities research analysts predict that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Friday, November 8th. Charles Schwab’s dividend payout ratio is 39.06%.

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.