2,480 Shares in The Charles Schwab Corporation $SCHW Acquired by Grandfield & Dodd LLC

Grandfield & Dodd LLC bought a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,480 shares of the financial services provider’s stock, valued at approximately $226,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SCHW. Donoghue Forlines LLC purchased a new position in Charles Schwab in the 2nd quarter worth $2,789,000. Oak Harvest Investment Services grew its stake in Charles Schwab by 6.5% during the 2nd quarter. Oak Harvest Investment Services now owns 44,666 shares of the financial services provider’s stock valued at $4,075,000 after purchasing an additional 2,714 shares during the last quarter. Allianz SE increased its holdings in shares of Charles Schwab by 934.9% in the second quarter. Allianz SE now owns 90,875 shares of the financial services provider’s stock valued at $8,291,000 after purchasing an additional 82,094 shares during the period. W.H. Cornerstone Investments Inc. purchased a new position in shares of Charles Schwab in the second quarter worth about $246,000. Finally, ABN Amro Investment Solutions purchased a new position in shares of Charles Schwab in the second quarter worth about $7,417,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on SCHW shares. Bank of America increased their price target on shares of Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $114.00 price objective on shares of Charles Schwab in a report on Friday, October 17th. JPMorgan Chase & Co. increased their price objective on shares of Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Truist Financial raised their target price on shares of Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, TD Cowen boosted their target price on shares of Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $106.45.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 3,072 shares of Charles Schwab stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total transaction of $301,056.00. Following the sale, the insider owned 11,923 shares of the company’s stock, valued at $1,168,454. The trade was a 20.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the sale, the insider owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 68,938 shares of company stock valued at $6,671,953 in the last 90 days. 6.30% of the stock is owned by insiders.

Charles Schwab Stock Performance

NYSE SCHW opened at $94.37 on Friday. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59. The stock has a market capitalization of $167.70 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 0.85 and a beta of 1.02. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average of $94.06 and a 200 day moving average of $92.35.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same quarter in the previous year, the firm earned $0.71 EPS. The firm’s revenue was up 26.6% compared to the same quarter last year. Sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab’s dividend payout ratio (DPR) is 25.29%.

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

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.