The Charles Schwab Corporation (NYSE:SCHW) Shares Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC lifted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 29.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 137,427 shares of the financial services provider’s stock after purchasing an additional 31,372 shares during the quarter. Wealthfront Advisers LLC’s holdings in Charles Schwab were worth $10,758,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SCHW. Vanguard Group Inc. raised its position in shares of Charles Schwab by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider’s stock worth $9,516,075,000 after buying an additional 1,187,384 shares during the period. Geode Capital Management LLC raised its position in shares of Charles Schwab by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider’s stock worth $2,279,742,000 after buying an additional 760,043 shares during the period. Norges Bank purchased a new position in shares of Charles Schwab in the 4th quarter worth $1,289,544,000. Northern Trust Corp raised its position in shares of Charles Schwab by 13.4% in the 4th quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider’s stock worth $1,164,911,000 after buying an additional 1,864,286 shares during the period. Finally, Invesco Ltd. raised its position in shares of Charles Schwab by 3.0% in the 4th quarter. Invesco Ltd. now owns 14,842,544 shares of the financial services provider’s stock worth $1,098,497,000 after buying an additional 430,250 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Down 1.2%

NYSE:SCHW opened at $91.63 on Wednesday. The company has a market capitalization of $166.49 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 0.98 and a beta of 0.93. The Charles Schwab Corporation has a one year low of $61.01 and a one year high of $93.35. The stock has a 50-day simple moving average of $88.89 and a 200 day simple moving average of $81.69. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same period in the previous year, the firm posted $0.74 earnings per share. Sell-side analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a $0.27 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a yield of 1.18%. Charles Schwab’s payout ratio is currently 32.73%.

Wall Street Analyst Weigh In

SCHW has been the topic of several research reports. JPMorgan Chase & Co. increased their target price on Charles Schwab from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Piper Sandler raised their price objective on Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday. Citigroup reissued an “outperform” rating on shares of Charles Schwab in a research report on Monday. Truist Financial raised their price objective on Charles Schwab from $97.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, June 16th. Finally, TD Securities raised their price objective on Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a research report on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.60.

Insider Buying and Selling

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 10,176 shares of Charles Schwab stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total value of $889,280.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nigel J. Murtagh sold 20,872 shares of the business’s stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total value of $1,878,688.72. Following the transaction, the insider owned 58,999 shares of the company’s stock, valued at approximately $5,310,499.99. This represents a 26.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,905 shares of company stock valued at $10,530,833 over the last 90 days. 6.30% of the stock is owned by corporate insiders.

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.