HB Wealth Management LLC Raises Stock Position in The Charles Schwab Corporation $SCHW

HB Wealth Management LLC lifted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 31.6% during the 3rd quarter, Holdings Channel reports. The firm owned 56,358 shares of the financial services provider’s stock after buying an additional 13,517 shares during the period. HB Wealth Management LLC’s holdings in Charles Schwab were worth $5,381,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Charles Schwab during the 2nd quarter worth approximately $1,889,858,000. Brown Advisory Inc. increased its position in shares of Charles Schwab by 88.4% during the second quarter. Brown Advisory Inc. now owns 12,162,260 shares of the financial services provider’s stock worth $1,109,687,000 after acquiring an additional 5,708,208 shares during the period. Primecap Management Co. CA raised its stake in shares of Charles Schwab by 35.9% in the second quarter. Primecap Management Co. CA now owns 19,034,806 shares of the financial services provider’s stock valued at $1,736,736,000 after acquiring an additional 5,032,728 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Charles Schwab by 28.3% in the second quarter. Bank of New York Mellon Corp now owns 14,182,132 shares of the financial services provider’s stock valued at $1,293,978,000 after purchasing an additional 3,125,179 shares during the period. Finally, Vanguard Group Inc. grew its stake in Charles Schwab by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock worth $13,793,853,000 after purchasing an additional 2,786,829 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Down 1.1%

Shares of NYSE:SCHW opened at $100.19 on Friday. The firm has a 50 day simple moving average of $96.33 and a 200-day simple moving average of $95.06. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $104.76. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $178.03 billion, a PE ratio of 23.46, a P/E/G ratio of 0.71 and a beta of 0.94.

Charles Schwab (NYSE:SCHW) last announced 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 21.02%. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same period last year, the business earned $0.71 EPS. Charles Schwab’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, equities analysts predict 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 was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, November 14th. Charles Schwab’s payout ratio is presently 25.29%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SCHW. Wolfe Research reaffirmed an “outperform” rating and issued a $122.00 price target on shares of Charles Schwab in a research report on Wednesday. Piper Sandler reaffirmed a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. TD Cowen boosted their price target on shares of Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Morgan Stanley increased their price objective on shares of Charles Schwab from $139.00 to $148.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Finally, BMO Capital Markets began coverage on shares of Charles Schwab in a research note on Friday, October 3rd. They set an “outperform” rating and a $110.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Charles Schwab currently has an average rating of “Moderate Buy” and an average target price of $111.25.

Insider Activity

In related news, insider Jonathan S. Beatty sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $102.01, for a total transaction of $204,020.00. Following the transaction, the insider owned 11,923 shares in the company, valued at $1,216,265.23. This trade represents a 14.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 6.30% of the stock is currently owned by company insiders.

About Charles Schwab

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.