Buckingham Strategic Wealth LLC Increases Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Buckingham Strategic Wealth LLC raised its position in shares of The Charles Schwab Co. (NYSE:SCHWGet Rating) by 1.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,932 shares of the financial services provider’s stock after buying an additional 236 shares during the quarter. Buckingham Strategic Wealth LLC’s holdings in Charles Schwab were worth $1,765,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp raised its holdings in Charles Schwab by 6.6% in the 4th quarter. State Street Corp now owns 69,667,441 shares of the financial services provider’s stock valued at $5,859,032,000 after acquiring an additional 4,305,161 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Charles Schwab by 1.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 34,047,187 shares of the financial services provider’s stock valued at $2,863,369,000 after purchasing an additional 496,137 shares during the period. Geode Capital Management LLC grew its holdings in Charles Schwab by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 24,307,246 shares of the financial services provider’s stock worth $2,038,366,000 after purchasing an additional 681,202 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Charles Schwab by 1.4% during the fourth quarter. Alliancebernstein L.P. now owns 19,578,136 shares of the financial services provider’s stock worth $1,646,522,000 after acquiring an additional 267,209 shares during the period. Finally, Norges Bank acquired a new stake in Charles Schwab in the fourth quarter valued at $1,127,795,000. Institutional investors and hedge funds own 87.13% of the company’s stock.

Insider Transactions at Charles Schwab

In related news, Chairman Charles R. Schwab sold 120,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $62.70, for a total transaction of $7,524,000.00. Following the completion of the transaction, the chairman now owns 71,083,305 shares in the company, valued at approximately $4,456,923,223.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Charles Schwab news, Chairman Charles R. Schwab sold 120,000 shares of the business’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $62.70, for a total transaction of $7,524,000.00. Following the completion of the transaction, the chairman now owns 71,083,305 shares in the company, valued at approximately $4,456,923,223.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Charles R. Schwab sold 149,600 shares of the business’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $65.36, for a total value of $9,777,856.00. Following the transaction, the chairman now owns 69,749,230 shares of the company’s stock, valued at approximately $4,558,809,672.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 277,632 shares of company stock worth $17,904,256. 6.90% of the stock is currently owned by corporate insiders.

Charles Schwab Stock Up 1.7 %

Shares of NYSE:SCHW opened at $77.18 on Wednesday. The stock’s 50-day moving average price is $64.88 and its two-hundred day moving average price is $73.94. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.62. The Charles Schwab Co. has a 12-month low of $59.35 and a 12-month high of $96.24. The firm has a market cap of $140.30 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 0.91 and a beta of 1.10.

Charles Schwab (NYSE:SCHWGet Rating) last announced its earnings results on Monday, July 18th. The financial services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.91 by $0.06. The business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.04 billion. Charles Schwab had a return on equity of 16.82% and a net margin of 33.09%. The company’s revenue was up 12.5% on a year-over-year basis. During the same period last year, the business posted $0.70 EPS. On average, research analysts forecast that The Charles Schwab Co. will post 3.92 EPS for the current year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Friday, August 12th will be given a $0.22 dividend. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $0.88 annualized dividend and a dividend yield of 1.14%. Charles Schwab’s dividend payout ratio (DPR) is presently 28.95%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SCHW. Redburn Partners began coverage on shares of Charles Schwab in a research note on Thursday, June 23rd. They set a “neutral” rating for the company. The Goldman Sachs Group assumed coverage on shares of Charles Schwab in a report on Tuesday, April 26th. They set a “neutral” rating and a $75.00 price objective for the company. UBS Group upped their target price on shares of Charles Schwab from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Charles Schwab from $83.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, August 12th. Finally, Piper Sandler cut their target price on shares of Charles Schwab from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, April 22nd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $92.42.

About Charles Schwab

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The Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, retirement plan, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor and mutual fund clearing services, as well as compliance solutions.

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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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