The Charles Schwab Corporation $SCHW Shares Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC increased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 22.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 168,248 shares of the financial services provider’s stock after acquiring an additional 30,821 shares during the quarter. Wealthfront Advisers LLC’s holdings in Charles Schwab were worth $15,351,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Princeton Global Asset Management LLC acquired a new position in shares of Charles Schwab during the 2nd quarter valued at about $25,000. Westside Investment Management Inc. boosted its position in shares of Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 150 shares during the last quarter. RMG Wealth Management LLC acquired a new position in shares of Charles Schwab during the 2nd quarter valued at about $27,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 191 shares during the last quarter. Finally, Stone House Investment Management LLC acquired a new position in shares of Charles Schwab during the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Down 0.2%

Shares of NYSE:SCHW opened at $94.37 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market capitalization of $171.30 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97. The firm’s 50-day moving average is $94.43 and its two-hundred day moving average is $90.60. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The company had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 earnings per share. Analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its board has authorized a share buyback program on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s dividend payout ratio is 25.29%.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the sale, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. This represents a 34.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the business’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 267,128 shares of company stock valued at $26,232,077. 6.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Bank of America boosted their price target on shares of Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research report on Thursday, October 2nd. Piper Sandler reaffirmed a “neutral” rating on shares of Charles Schwab in a research report on Tuesday, October 14th. Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the company an “overweight” rating in a research report on Friday, July 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a research report on Saturday. Finally, Morgan Stanley decreased their target price on shares of Charles Schwab to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Charles Schwab Company 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.